Malaysian small and medium enterprises (SMEs) are being better positioned to tap international markets following a strategic integration between local payment gateway Razorpay Curlec and global online payments provider PayPal.
The collaboration comes amid strong growth in Malaysia’s digital export sector, which recorded an increase of RM6.8 billion between 2024 and the first half of 2025. SMEs, which make up more than 97 per cent of all registered businesses and employ almost half of the country’s workforce, remain central to this expansion.
Despite high levels of digital adoption domestically, many SMEs continue to face challenges when expanding overseas, particularly in managing cross-border payments and building trust with international customers. Industry players note that fragmented payment systems, foreign currency complexities and settlement delays often hinder global scaling efforts.
Razorpay Curlec said its integration with PayPal aims to address these barriers by enabling Malaysian merchants to accept international payments through a single platform.
Since its beta rollout last year, the solution has processed tens of thousands in gross merchandise value, indicating early traction among exporters and digital-first businesses.
The timing aligns with broader trade developments supporting Malaysia’s access to Western markets. The United Kingdom’s accession to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Malaysia-United States Agreement on Reciprocal Trade are expected to enhance market access and reduce trade costs for local businesses.
Razorpay Curlec Country Head and Chief Executive Officer, Kevin Lee said SMEs often juggle multiple systems for domestic and international payments, increasing operational burden and affecting cash flow.
“High transaction costs, regulatory requirements, currency conversion and payment delays frequently discourage SMEs from prioritising cross-border growth,” he said, adding that the new integration helps streamline these processes.
Through PayPal, merchants can accept payments in over 100 currencies and reach customers in key markets such as the United States, United Kingdom and Europe. The platform also supports recurring and direct debit payments, benefiting subscription-based and repeat transactions.
At the same time, businesses retain access to local payment options including FPX, cards and popular e-wallets such as Touch ’n Go, GrabPay and Boost, all managed via a unified dashboard that offers real-time insights and reporting.
Razorpay Curlec said it will continue focusing on simplifying cross-border payments as part of efforts to support a more inclusive and cashless Malaysian economy.
-NIAGATIMES
