As Malaysia gears up for Budget 2025, Curlec by Razorpay is stepping up to champion initiatives that enhance financial inclusion and drive digital innovation. The year’s budget is in line with the Ekonomi MADANI framework. The framework focuses on three key pillars: “Raise the Ceiling,” “Raise the Floor,” and good governance reform.
“Raise the Ceiling” emphasizes the importance of digital and innovation-led industries. It aims to position Malaysia as a key player on the global stage. Curlec by Razorpay, a leading FinTech payment gateway processing up to 10,000 transactions per second, is fully committed to supporting these ambitions.
1. Supporting Seamless Payment Infrastructure
Image via Curlec
In the 2023 Global Financial Inclusion Index, Malaysia achieved an impressive rank of 18th out of 42 markets. Curlec is crucial in this achievement by providing businesses and consumers with secure, seamless payment options. By integrating local insights with Razorpay’s technology, Curlec enhances payment experiences for various companies, from SMEs to large enterprises.
The Co-founder and Chief Executive Officer of Curlec, Zac Liew stated,
Our recent partnership with TNG Digital has benefited many Malaysian businesses and consumers. Up to 88% of Malaysians prefer TNG eWallet as a payment method. With such a high market penetration rate, leveraging the TNG eWallet payment method would reach the underbanked and those who cannot obtain credit cards.
Zac Liew, Co-founder and Chief Executive Officer of Curlec
2. Driving Cross-Border Opportunities
Image via DNBC Financial Group
Under Mission 2 of the NIMP 2030 and the Ekonomi MADANI framework, the government focuses on accelerating digitalization, AI adoption, and automation. Thus, Curlec aims to facilitate cross-border payments and real-time transactions. Additionally, Curlec seeks to leverage Malaysia’s DuitNow system to enable seamless cross-border transactions. This effort is inspired by India’s impressive Unified Payments Interface (UPI).
Zac further elaborated,
In line with Budget 2025’s vision to promote innovation, we urge the Government to continue prioritizing digitalization and the development of real-time payments infrastructure. The expansion of cross-border payments within ASEAN presents vast opportunities, and we believe that a supportive regulatory framework will be essential to drive these advancements.
Zac Liew, Co-founder and Chief Executive Officer of Curlec
3. Upping Cybersecurity Measures
The rapid growth of the digital economy has led to increased cybersecurity threats. Curlec recognizes the need for thorough security protocols to protect sensitive data and transactions. Hence, Liew advocates for government measures to monitor fraudulent activities and provide tax incentives for businesses investing in cybersecurity.
Overall, it takes the cooperation and collaboration of industry peers, cybersecurity communities, and government agencies to exchange threat intelligence and best practices, to further elevate the cybersecurity safety net at a national level.
Zac Liew, Co-founder and Chief Executive Officer of Curlec
Curlex prioritizes security with a secured network, heavy security controls, and regular compliance. With almost 3,000 local businesses and one million businesses worldwide, this FinTech company ensures business continuity and stability.
4. Creating A Robust Ecosystem For Startups
Recently, the Indian and Malaysian Governments exchanged a Memorandum of Understanding (MOU) to enhance cooperation in emerging technologies. The Malaysian fintech startup, Curlec, was launched in 2018 to simplify payment collection and cash flow management for businesses. It is now part of the Razorpay group, India’s leading Payments and Banking Platform for businesses. Zac expressed,
We’re grateful for the opportunities that have enabled us to transition from a local, to now a global player in the market. Having India’s leading payment and banking platform, Razorpay invest in our company is a huge leap forward.
Zac Liew, Co-founder and Chief Executive Officer of Curlec
Moreover, the government should stay committed to uplifting startup businesses, as he elaborated,
We encourage the Government to continue to invest in startups and provide a comprehensive ecosystem that allows for ease of doing business, enables the creation of quality startups, establishes regulatory frameworks that are agile to trends, and technology as well as mitigate the risk of innovation.
Zac Liew, Co-founder and Chief Executive Officer of Curlec
As we move forward with Budget 2025, Curlec is optimistic about the government’s ongoing support for the digital economy. At the same time, Curlec remains deeply committed to fostering a strong ecosystem for startups, enhancing cybersecurity measures, facilitating cross-border opportunities, and advancing financial inclusion.
