Razorpay launches first international payment gateway in Malaysia: Fintech unicorn Razorpay has launched its first international payment gateway for the Malaysian market with Curlec.
Daily Current Affairs Quiz: July 2023
In February 2022, Razorpay acquired a majority stake in the Malaysia-based startup which is now known as Curlec by Razorpay. The company currently works with over 700 Malaysian businesses, including Tune Protect, CTOS, Courts, Mary Kay and The National Kidney Foundation. “The new Curlec payment gateway will serve more than 5,000 businesses with a target of RM10 billion ($2 billion) in annualized gross transaction value (GTV) by 2025,” Razorpay said in its statement.
Aim: To widen its reach in the international markets and make its capabilities available in emerging markets.
As per the report, digital trade in Malaysia contributes 22.6% to the country’s GDP and is expected to rise to 25.5% by 2025.
