New Delhi: fintech unicorn razorpay announced on Wednesday the launch of its first international payment gateway for the Malaysian market with Karleck. In February last year, Razorpay acquired a majority stake in the Malaysia-based startup that is now known as curlec by Razorpay.
Razorpay said this launch will enable it to further broaden its reach in international markets and make its capabilities available in emerging markets. Karlec currently works with over 700 Malaysian businesses including TuneProtect, CTOS, Courtesy and Mary Kay. The new Curlec payment gateway will serve over 5,000 businesses with a target of RM10 billion in annual gross transaction value (GTV) by 2025.
According to recent reports, in the digital business malaysia Today it accounts for 22.6% of the country’s GDP and is expected to increase to 25.5% by 2025, indicating significant economic activity. By promoting digital technology adoption and taking advantage of digital business opportunities, Malaysia and its businesses have the potential to achieve a 150% increase in economic activity, reaching $52.7 billion by 2030.
“When we associated with Klarec, our sole vision was to build products that cater to the needs of the SEA region, and today Klarec Payment Gateway is the first step in that direction. We believe the new PG in Malaysia will revolutionize the way businesses and end-consumers transact and interact with money until now,” said Shashank Kumar, MD and Co-Founder, Razorpay.
Razorpay said this launch will enable it to further broaden its reach in international markets and make its capabilities available in emerging markets. Karlec currently works with over 700 Malaysian businesses including TuneProtect, CTOS, Courtesy and Mary Kay. The new Curlec payment gateway will serve over 5,000 businesses with a target of RM10 billion in annual gross transaction value (GTV) by 2025.
According to recent reports, in the digital business malaysia Today it accounts for 22.6% of the country’s GDP and is expected to increase to 25.5% by 2025, indicating significant economic activity. By promoting digital technology adoption and taking advantage of digital business opportunities, Malaysia and its businesses have the potential to achieve a 150% increase in economic activity, reaching $52.7 billion by 2030.
“When we associated with Klarec, our sole vision was to build products that cater to the needs of the SEA region, and today Klarec Payment Gateway is the first step in that direction. We believe the new PG in Malaysia will revolutionize the way businesses and end-consumers transact and interact with money until now,” said Shashank Kumar, MD and Co-Founder, Razorpay.