Curlec review (2026): Fees, features & verdict

Key Takeaways:

• Razorpay Curlec is a Bank Negara Malaysia–regulated payment gateway built for Malaysian businesses, with standout support for FPX, e-wallets, and recurring payments via Direct Debit.

• Its Basic plan has no setup fee, with domestic card rates from 2.40% and FPX from 1.50% (or RM1 per transaction, whichever is greater) — competitive for most SMEs.

• If your business needs to receive international payments or manage foreign currencies, Airwallex's Global Accounts are a stronger option — with multi-currency accounts, local account details in 20+ countries, and no account opening or monthly fees.

If you're researching a Curlec review, you're likely weighing up whether Razorpay Curlec is the right payment gateway for your Malaysian business.

This review covers everything you need to know: how Curlec works, what it costs, where it performs well, and where it has limits. Whether you run an eCommerce store, a SaaS company, or a subscription-based service, the goal is to help you decide if Curlec is the right fit before you sign up.

A quick note on naming: Curlec was acquired by Indian fintech Razorpay in 2022 and is now officially called Razorpay Curlec. Both names are used interchangeably in this article.

What is Curlec (Razorpay Curlec)?

Curlec was founded in Malaysia in 2018 as a Direct Debit and recurring payment specialist. In 2022, Indian fintech Razorpay acquired a majority stake in the company — its first international expansion. By 2023, Curlec had evolved into a full-stack payment gateway, adding card payments, e-wallets, payment links, and payouts to its original recurring billing offering.

Today, Razorpay Curlec is regulated by Bank Negara Malaysia (BNM) and is a PayNet member, meaning it operates within Malaysia's core payment infrastructure. It is also PCI DSS Level 1 compliant — the highest certification level for payment security.

Who is Curlec for?

Curlec is built for Malaysian businesses that want a single gateway to handle domestic payments. It works well for:

• eCommerce merchants needing FPX, cards, and e-wallet support in one integration

• SaaS companies and subscription businesses that need automated recurring billing

• Gyms, tuition centres, and membership services relying on Direct Debit collections

• SMEs and startups that want fast onboarding without a traditional bank merchant account

• Social sellers who want to collect payments via links without a website

Curlec features

Razorpay Curlec has expanded well beyond its Direct Debit roots. It now offers a full suite of payment tools — from a payment gateway with a developer-friendly API to no-code options for sellers with no website. Here's what's included:

Payment gateway

Curlec's payment gateway lets you accept credit and debit Cards, Financial Process Exchange (FPX), and e-wallets through a single integration. FPX connects to more than 30 local banks and payment methods,¹ covering the majority of Malaysian consumers.

The gateway includes a Flash Checkout feature that draws on a pool of 4 million+ saved cards, so returning customers can pay without re-entering their card details. For developers, Curlec offers REST APIs and Software Development Kits (SDKs) across major languages, as well as one-click plugins for Shopify and WooCommerce.¹

Recurring payments and direct debit

This is where Curlec stands apart from most Malaysian payment gateways. Recurring payments have been part of Curlec's product since it launched, and the infrastructure shows it.

Businesses can automate billing through Direct Debit via e-Mandate — customers authorise you to debit their bank account directly, and Curlec handles the collections from there. Three billing models are supported:¹

• Fixed Payment Schedule — charge customers a set amount on a recurring basis

• Quantity-Based Model — charge based on number of users or units per billing cycle

• Usage-Based Model — charge customers for what they actually consume

Subscriptions also support trial periods, upfront charges, add-ons, and plan upgrades or downgrades.¹ Failed payments trigger automated retries, which reduces revenue lost to declined transactions.

Payment links, pages, and buttons

For businesses that don't have a website — or don't want to build one — Curlec provides three no-code tools:

• Payment Links — generate a link from the dashboard and share it via WhatsApp, SMS, or email to collect payment instantly

• Payment Pages — a custom-branded online storefront, no coding required

• Payment Buttons — embed a payment button on any existing page in minutes

All three are included at no extra cost with a Curlec payment gateway plan.¹

Payouts

Curlec supports real-time payouts to Malaysian bank accounts, letting businesses disburse funds to vendors, contractors, or customers from the same dashboard.¹

Dashboard and reporting

The merchant dashboard gives you real-time transaction data, settlement reports, reconciliation tools, and customer management in one place.¹ Reports can be customised and downloaded for accounting or audit purposes.

Curlec fees and pricing

Curlec offers two standard plans — Basic and Premium — plus an Enterprise tier for businesses processing more than RM1 million per month. The main difference between Basic and Premium is the upfront cost and the transaction rates you get in return.

Plan overview

The information in this table has been reviewed to be accurate as of 10 April 2026.

The Premium plan pays for itself fairly quickly for higher-volume businesses. If you process a significant amount in card payments each month, the 0.4% saving on domestic cards alone can offset the RM999 setup cost within a few months.

For Enterprise pricing, contact Curlec’s sales team directly.

Whichever plan you choose, the following are bundled in at no additional charge:²

• Payment Links

• Payment Pages

• Payment Buttons

• Invoices

Curlec pros and cons

Curlec has clear strengths — but it's not the right fit for every business. Here's an honest breakdown.

Curlec’s pros

Recurring payments and Direct Debit

This is Curlec's strongest suit. No other Malaysian payment gateway has invested as deeply in Direct Debit infrastructure. For subscription businesses, gyms, and SaaS companies, this alone is a compelling reason to choose Curlec over alternatives.

Competitive FPX rates

At 1.50% (or RM1, whichever is greater) on the Basic plan, Curlec's FPX pricing is among the lower rates available in Malaysia.² FPX is the most-used online payment method in Malaysia, so this matters.

Fast onboarding

Approval typically takes 1–2 business days.² Traditional bank merchant accounts can take weeks or months. For businesses that need to start collecting payments quickly, this is a significant advantage.

BNM-regulated and PayNet-integrated

Curlec is regulated by Bank Negara Malaysia and operates directly on Malaysia's core payment rails.¹ This matters for compliance-conscious businesses and their customers.

Curlec’s cons

MYR-only settlement, no multi-currency accounts

Curlec settles in Malaysian Ringgit only. There are no foreign currency accounts, no ability to hold balances in USD, SGD, or other currencies, and no FX management tools. If your business receives revenue from overseas customers, you'll need to handle currency conversion separately.

Limited international payment reach

Curlec is built for the Malaysian market. Its payment methods are primarily domestic — FPX, local e-wallets, and Malaysian bank cards. International card acceptance exists, but there's no native support for global payment rails beyond this.

Premium plan requires RM999 upfront

For micro-businesses or early-stage startups, the Premium plan's setup fee may be a barrier — especially if transaction volumes don't yet justify the lower rates.

How to sign up for Curlec

Getting started with Curlec is fully digital — there's no branch visit or paper forms involved. The process typically takes 1–2 business days from sign-up to going live.

Step 1: Create an account

Go to curlec.com and sign up. You'll be asked for your business details and your website or social media URL.

Step 2: Submit your documents (e-KYC)

Upload the following documents for verification:¹

• SSM Certificate (Borang D or E)

• Director's Identity Card (IC)

• Bank statement header (to verify your settlement account)

Note that business registration with the Companies Commission of Malaysia (Suruhanjaya Syarikat Malaysia / SSM) is a requirement. Curlec does not support unregistered sole traders or individuals without a registered business entity.

Step 3: Test in Sandbox mode

Before going live, use Curlec's test environment to simulate successful payments, failed transactions, and refunds. This lets you catch any integration issues before real customers are involved.

Step 4: Go live

Once approved, switch your account to live mode and start accepting payments immediately. Approval typically takes 1–2 business days from submission.

Curlec vs other payment gateways in Malaysia

How does Curlec stack up against other gateways Malaysian businesses commonly consider? The table below gives you a quick overview, followed by a more detailed look at each comparison.

The information in this table has been reviewed to be accurate as of 10 April 2026.

Curlec vs Billplz

Billplz is a Malaysian-built gateway that has built a loyal following among cost-sensitive businesses — schools, NGOs, property managers, and B2B services — thanks to its flat-rate FPX pricing and fast settlement.

On FPX, Billplz's Standard plan charges a flat RM0.75 per transaction,³ which is cheaper than Curlec's 1.50% or RM1 minimum for smaller transaction values. For businesses that primarily collect via FPX and keep ticket sizes low, Billplz can work out cheaper.

That said, Curlec offers a fuller product stack. Billplz's eCommerce features are more limited, and its recurring billing tools are less sophisticated than Curlec's Direct Debit engine. If you need cards, e-wallets, BNPL, and subscriptions all in one place, Curlec covers more ground.

Worth knowing: Billplz's Basic plan is free with no setup or annual fee,³ making it an accessible starting point for very small businesses.

Curlec vs Stripe

Stripe is a global payments platform built for developers, with support for 135+ currencies⁴ and a highly customisable API. It's a natural fit for tech companies and businesses with significant international transaction volumes.

The fee difference on domestic transactions is significant. Stripe charges 3% + RM1.00 per transaction for both cards and FPX,⁴ compared to Curlec's 2.40% for cards and 1.50% (or RM1) for FPX on the Basic plan.² For a Malaysian business primarily collecting from local customers, Curlec is meaningfully cheaper.

Stripe's advantage is its global reach and multi-currency infrastructure. If you need to accept payments from customers in the US, Europe, or across Asia in their local currencies, Stripe handles this natively in a way Curlec does not.

Worth knowing: Stripe has no setup or annual fees,⁴ and onboarding is near-immediate.

Curlec vs iPay88

iPay88 is one of the longest-established payment gateways in Malaysia, with a strong track record among SMEs and enterprise merchants. It supports a broad range of card schemes and has deep integration with local banks — including features Curlec doesn't offer, such as American Express acceptance.

However, iPay88 does not publish its pricing online, which makes direct fee comparisons impossible without contacting their sales team. Onboarding timelines are also typically longer than Curlec's, particularly for credit card processing.

Where Curlec has the clearer edge is recurring payments. iPay88 supports some recurring billing, but Direct Debit and subscription automation are not its primary focus the way they are for Curlec. If automated collections are central to your business model, Curlec is the stronger choice.

Worth knowing: iPay88 now operates under ADAPTIS, the regional payments group formed by NTT DATA Payment Services.

Is Curlec right for your business?

If your business receives revenue from overseas, needs to pay suppliers, or needs to hold foreign currencies, Curlec is not built for that. That’s where Airwallex comes in.

With Airwallex Global Accounts, you get:

• The ability to collect payments in 130+ currencies across 180+ countries

• The ability to hold balances in foreign currencies without converting immediately

• Transfers to 200+ countries: 93% of transfers arrive on the same day, and transfers are free when they go through local rails

• Currency conversion at competitive FX rates, saving you up to 80% on FX fees

• No account opening fees and no monthly maintenance charges

Frequently asked questions (FAQs)

What is Curlec used for?

Curlec is a payment gateway for Malaysian businesses. It lets you accept payments via FPX, credit and debit cards, e-wallets, and Buy Now, Pay Later — through a single integration. It's also the leading provider of Direct Debit and recurring payment infrastructure in Malaysia, making it a popular choice for subscription businesses, gyms, tuition centres, and SaaS companies.

How much does Curlec charge per transaction in Malaysia?

On the Basic plan (no setup fee), Curlec charges 2.40% for domestic cards, 1.50% or RM1 per transaction (whichever is greater) for FPX, and 1.50% for e-wallets.² The Premium plan (RM999 setup fee) offers lower rates: 2.00% for domestic cards, 1.00% or RM1 for FPX, and 1.30%–1.50% for e-wallets.² Always confirm current rates directly with Curlec before signing up.

Is Curlec regulated in Malaysia?

Yes. Razorpay Curlec is regulated by Bank Negara Malaysia (BNM) and is a member of PayNet, Malaysia's national payments network.¹ It is also PCI DSS Level 1 compliant — the highest certification level for payment data security.¹

How long does it take to get approved for Curlec?

Approval typically takes 1–2 business days after you submit your documents.² This is significantly faster than applying for a traditional merchant account through a bank, which can take weeks or months. You'll need an SSM-registered business to apply.

What payment methods does Curlec support?

Curlec supports Financial Process Exchange (FPX) with access to 30+ local banks and payment methods, credit and debit cards (Visa, Mastercard, UnionPay), e-wallets, and Buy Now, Pay Later options.¹ For subscription businesses, it also offers Direct Debit via e-Mandate, which lets you collect recurring payments directly from customers' bank accounts.

What is the difference between Curlec and Razorpay?

Curlec is a Malaysian payment gateway that was founded in 2018 and acquired by Razorpay — India's leading payments platform — in 2022. The two now operate as one group, with Curlec bringing deep local knowledge of Malaysia's payment infrastructure and Razorpay contributing its technology, scale, and global processing capabilities. For Malaysian merchants, Curlec is the entity you sign up with and the brand you interact with day to day.

Sources:

1. curlec.com/payment-gateway

2. curlec.com/pricing

3. billplz.com/pricing

4. stripe.com/en-my/pricing

This publication does not constitute legal, tax, or professional advice from Airwallex nor substitute seeking such advice, and makes no express or implied representations / warranties / guarantees regarding content accuracy, completeness, or currency. If you would like to request an update, feel free to contact us at [[email protected]]. Airwallex (Malaysia) Sdn Bhd is licensed in Malaysia as a MSB Class B (remittance business only) licensee and is regulated by Bank Negara Malaysia (licence number 00318).