Today, Curlec by Razorpay announced that it is now a member of the national payments network and infrastructure, Payments Network Malaysia Sdn Bhd (PayNet). For those who don't know, Curlec is a full-stack payment solution provider under Razorpay.
As the first new member of PayNet since 2019, Curlec is now empowered to drive the adoption of real-time payment processing across a wider cross-section of Malaysia than before. This new membership lets Curlec adopt DuitNow product suite, allowing their customers to make and receive real-time payments from bank accounts and e-wallets.
In addition, Curlec will be able to leverage innovations that the Razorpay Group has built around real-time payments in India. This technology was the first to market India’s real-time payments solution, the Unified Payment Interface (UPI), which processed 74 billion transactions in 2022 and has been growing on an average of 380% since its inception in 2016.
Zac Liew, Co-Founder and Chief Executive Officer of Curlec by Razorpay, Rahul Kothari, Chief Business Officer, Razorpay and Gary Yeoh, Chief Commercial Officer, PayNet are all optimistic about this initiative to drive DuitNow adoption across Malaysia. Curlec is regulated by Bank Negara Malaysia and is also trusted by over 1,000 businesses. This includes Tune Protect, CTOS, Mary Kay, and The National Kidney Foundation.
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