By Zac Liew, Co-founder and Chief Executive Officer of Curlec by Razorpay
With the explosive growth in the digital payments industry, cyberattacks ranging from incidences of data breaches, ransomware, and fraudulent transfers to leaks have threatened the security and safety of digital transactions worldwide.
Locally, the Malaysian Computer Emergency Response Team (MyCERT) reported a surge in cyber incidents with a total of 1,307 incidents, a 13% increase compared to 2022. With rampant fraud cases, vigilance and utmost commitment must be given when it comes to transacting digital payments.
Curlec by Razorpay’s Commitment to Digital Payments
Nateskin & Kualesa Saves Costs & Boosts Transactions with Curlec’s Cutting-Edge Security
Curlec by Razorpay makes it easy for businesses of all sizes to collect payments, automate payouts and take control of their cash flow.
Locally, prominent brands such as RedBus and CTOS, as well as small and medium enterprises (SMEs) such as Nateskin, Kualesa and BloomThis have entrusted Curlec by Razorpay’s range of payment methods to cater to diverse business needs.
Every click and decision matters for online businesses, which is where Nateskin, a provider of self-grooming tools for men has seen a spike in growth since utilising Curlec’s payment gateway. The seamless checkout process and User Interface (UI)/User Experience (UX) have resulted in 51.3% in FPX and wallet transactions and a 20% reduction in processing fees.
As for Kualesa, an eco-conscious apparel brand that retails primarily online, the site now offers a more streamlined customer experience since switching to Curlec’s payment gateway. This has resulted in improved experience and clicks-to-checkouts by 43% while transaction fees have also been reduced by 18%.
Providing the best of both worlds, Curlec by Razorpay features India’s fintech giant, Razorpay Group’s technology capabilities with Curlec’s deep local understanding of the Malaysian payments ecosystem. Stringent data security is prioritised as Curlec by Razorpay protects both consumers and businesses with its world-class cybersecurity measures.
“We have not experienced any fraudulent matters as Curlec’s payment gateway encrypts all sensitive data transmitted on the network.
“With a secure network, stringent security controls and regular compliance, we have full confidence that Curlec prioritises security for digital businesses.
“Frankly, we are just glad Curlec handles all of that for us, so we can channel all our focus into creating and improving our products for our customers,” said Jared Chuah, Head of Growth & Co-founder of Nateskin.
“Secured payments are vital to our business. If a customer does not trust the gateway and loses confidence, then there is little chance financial information will be shared. As a business, we will lose that purchase.
“This is where as digital businesses, we are highly assured when Curlec is regulator-approved by both Bank Negara and is a member of Paynet in Malaysia. The expansiveness of PayNet gives us confidence that most of our local customers are familiar with the policies and security that are provided by the group.
“We look forward to seeing new features added that would benefit our business and customers,” said Ariff Faisal, Founder & Chief Executive Officer of Kualesa.
From face shavers, and nose trimmers to eco-conscious apparel for men and women, Curlec ensures tip-top security for Nateskin, Kualesa and more than 3,000 Malaysian businesses with the following features:
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PCI-DSS Level 1 (payment card industry data security standard): Ensures all cardholders data is secured, while maintaining a secure network, strong access control measures and regular compliance
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SOC 2 Type 2 (System Organisation Controls): Safeguarding customer data is of utmost priority. Curlec by Razorpay continually tests internal controls over an extended period to ensure security controls are in place
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SSL certificate, the EV SSL (Extended Validity SSL) certificate: Sensitive data such as personal identifiable information (PII) utilises field-level encryption.
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Employing end-to-end API encryption: End-to-end encryption ensures that sensitive data (such as cardholder information) is encrypted from the point of entry to the point of storage or processing, minimising the risk of exposure during transmission.
These measures collectively ensure that as businesses scale, they can rely on Curlec to provide a stable, secure, and efficient payment processing environment.
Stability, Scalability and Security for Consumers & Merchants
With a 99.9% system uptime, Curlec by Razorpay ensures business continuity and stability ensuring that merchants experience minimal to no disruptions.
The platform is also engineered to support businesses as they grow, ensuring both scalability and security. Systems are battle-tested for performance and stress to cater for millions of merchants and process billions of transactions.
The stress-tested stack, proven across over 10 million merchants, can handle high transaction volumes efficiently, supporting up to 10,000 transactions per second. This capability meets the region’s requirements for high peak traffic, ensuring smooth operations even during busy periods.
Democratising & Securing Digital Payments For All
Whether you are a merchant on social media or a startup ready to launch products and need a payment gateway to an enterprise looking to take control of your cash flow, Curlec by Razorpay has a solution for each phase of an entrepreneur’s journey.
Curlec by Razorpay is committed to enabling a transition to a cashless society by focusing on securing digital payments with world-class cybersecurity measures for startups, SMEs, and enterprises.
