Curlec by Razorpay supports Malaysia’s Budget 2025 initiatives under the Ekonomi MADANI framework, focusing on financial inclusion, cross-border payments, cybersecurity, and startup growth. The fintech leader aims to help drive digital transformation and strengthen the nation’s position as a global digital economy hub.
15 October 2024 – As Malaysia’s digital economy advances under the Ekonomi MADANI framework, Curlec by Razorpay, a leading FinTech payment gateway, is positioning itself as a key player in supporting the nation’s vision for economic growth. The upcoming Budget 2025 focuses on three main pillars—”Raise the Ceiling” for economic stature, “Raise the Floor” for quality of life, and public sector reform. These priorities align with Curlec’s commitment to financial inclusion, cross-border opportunities, enhanced cybersecurity, and fostering a robust startup ecosystem.
Curlec’s Co-founder and CEO, Zac Liew, highlights the importance of building a seamless payment infrastructure to support businesses and consumers alike. Malaysia’s rise in the 2023 Global Financial Inclusion Index to 18th place reflects the progress of its digital economy, and Curlec’s advanced payment solutions are helping to bridge the gap for SMEs, enterprises, and underserved markets. Liew emphasizes the critical role of partnerships like Curlec’s collaboration with TNG Digital, which reaches 88% of Malaysian consumers who use TNG eWallets.
In terms of cross-border opportunities, Curlec supports the government’s push for digitalisation and automation, particularly through initiatives like the Real-Time Retail Payments Platform (RPP) and ASEAN cross-border payment linkages. Drawing inspiration from India’s Unified Payments Interface (UPI), Liew sees vast potential in Malaysia’s own DuitNow system to drive real-time payments and support the digital transformation of businesses.
As cybersecurity remains a pressing concern, Liew calls for stronger government guidelines and incentives for businesses to invest in security measures. Curlec maintains high-level security certifications, such as PCI-DSS and SOC 2 Type 2, ensuring safe and reliable transactions for its 3,000 local merchants and millions globally.
Finally, Curlec underscores the need to nurture Malaysia’s startup ecosystem. Since its launch in 2018, Curlec has grown from a local fintech startup into a global player, with backing from India’s Razorpay Group. Liew encourages the government to continue investing in startups and promoting a dynamic ecosystem that fosters innovation, collaboration, and international expansion opportunities.
