Msia’s FinTech payment gateway, Curlec by Razorpay announces partnership with TNG Digital enabling recurring payments for SMEs & underbanked communities nationwide

  • Over two million merchants and more than 21 million verified users from SMEs, rural areas, and younger demographics nationwide will benefit from financial accessibility.
  • Curlec is one of the first payment gateways to integrate recurring payments with TNG eWallet.

Kuala Lumpur, 29th May 2024 – Malaysia’s leading FinTech payment gateway, Curlec by Razorpay, which processes up to 10,000 transactions per second and serves a vast range of clientele with over 2,000 merchants locally and over 10 million businesses served globally, announced its partnership with TNG Digital, Malaysia’s largest integrated FinTech player, and the operator of TNG eWallet

Directly integrated with the TNG eWallet, this enables Curlec to work collaboratively to empower underserved markets to improve financial accessibility for merchants and consumers nationwide. This includes small and medium-sized enterprises (SMEs), unbanked individuals in rural areas, and the younger generation lacking access to debit or credit cards. 

Co-founder and Chief Executive Officer of Curlec, Zac Liew said, “While many payment gateways have partnered with TNG eWallet for one-off payments, we are delighted to be one of the first payment gateways in the market to offer recurring payments with TNG eWallet. 

“Since Curlec’s establishment, recurring payments have been one of our most important focus areas. Today, consumers and businesses alike can enable recurring payment schedules, control the billing cycle and get instant alerts on subscription activity with Curlec Subscriptions.

“This partnership will truly benefit 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 TNG eWallet as a payment method would reach the underbanked and those who cannot obtain credit cards.” 

Benefits to Consumers: Reaching the Unbanked

“For consumers, gym memberships or streaming services usually require card details for a monthly subscription.

“Being among the selected few to be integrated with the TNG eWallet means consumers no longer require a debit or credit card. They can now key in their TNG eWallet information and subscribe to recurring payments seamlessly and safely,” he further added. 

Committed to serving underserved merchants and customers, Curlec now has an additional recurring payment method with TNG eWallet in addition to two major instruments including Cards such as Visa, Mastercard and Online Banking utilising Direct Debit.

With more than 60% market share, TNG eWallet offers a familiar and trusted payment platform for underserved communities. Through this partnership, the unbanked and younger audiences can seamlessly make payments by opting for recurring payments through TNG eWallet with Curlec, alleviating concerns about the need for a debit or credit card. 

Benefitting SMEs: Recurring Payment, Financial Stability, Wider Consumer Reach for Rural Cities 

Post-pandemic, SMEs are still experiencing cash flow issues. Studies have shown that 87% of Micro, Small, and Medium Enterprises (MSMEs) in Malaysia have encountered challenges obtaining loans and financing from banks. 

Utilising Curlec’s payment gateway with TNG eWallet empowers SMEs to collect payments regularly, which would help in their overall financial cash flow. 

As such, small businesses such as tuition centres, community gyms or any subscription-based business such as rent-to-own items, or self-storage facilities would benefit from Curlec’s payment gateway which offers recurring payment on the TNG eWallet.

To date, the TNG eWallet has reached over two million merchants. This partnership aims to extend TNG eWallet’s reach to more merchants, making financial services accessible to all. It empowers micro and small businesses to flourish in the digital economy by enhancing their operational efficiency and financial management.

“This also applies to merchants or businesses located in rural areas, where card penetration is not as high. Payment choices are more inclined towards TNG eWallet. This is a game-changer for any small medium businesses looking for financial stability,” added Liew. 

Serving the Underserved in Line with Creating a Cashless Society 

Alan Ni, Chief Executive Officer of TNG Digital said, “Our collaboration with Curlec aligns perfectly with TNG Digital’s commitment to democratising financial access in Malaysia, fostering a financially empowered society. Through this partnership, more people, including consumers, businesses, and organisations, will enjoy the advantages of recurring eWallet payments.” 

Alan Ni further emphasised, “As Malaysia’s largest eWallet, we’re poised to bridge gaps, foster financial inclusion, and empower over 21 million verified eWallet users nationwide with seamless transactions and tailored financial solutions. This is particularly impactful for areas with limited card usage.”

This partnership goes in line with Bank Negara Malaysia’s Financial Sector Blueprint 2022-2026 which aims to advance the digitalisation of the financial sector through the support of a vibrant digital financial services landscape.

To learn how you can supercharge your business, visit Curlec’s website at or follow its social media platforms on Facebook (@curlec), Instagram ( and LinkedIn (@curlec).

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