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Razorpay Curlec to enable UPI payments in Malaysia

EntrackrEntrackr · 1m ago
Razorpay Curlec to enable UPI payments in Malaysia
Medial

Razorpay, through Razorpay Curlec, has partnered with NPCI International Payments Limited (NIPL) to enable UPI payments in Malaysia. Indian travellers will be able to pay Malaysian merchants using UPI apps, with settlement in Malaysian Ringgit (RM). The integration removes the need for cash or international cards for Indian visitors. Malaysian merchants will receive payments in local currency through Razorpay Curlec. Razorpay Curlec will offer UPI acceptance to businesses across sectors including retail, travel, hospitality, and small enterprises. In 2024, more than one million Indian tourists visited Malaysia and spent over Rs 110 billion. The partnership aims to simplify cross-border payments and improve payment acceptance for merchants serving Indian visitors. UPI processed 19.6 billion transactions in India in September 2025. The arrangement gives Malaysian businesses access to Indian UPI users and supports cross-border payments with instant settlement. Razorpay Curlec currently supports recurring payments, card payments, payouts, subscription management, and billing solutions for businesses in Malaysia. The company will use the partnership to expand its cross-border payment stack and merchant network. NIPL focuses on expanding UPI and RuPay outside India through partnerships with payment service providers and central payment networks. The Malaysia launch is part of NIPL’s plan to enable UPI acceptance in international markets. UPI has expanded to several new countries, including France and the UAE, with agreements in place for Namibia, Trinidad and Tobago, and Peru. It is already operational in Bhutan, Singapore, Sri Lanka, Mauritius, and Nepal, and recently went live in Qatar.

UPI processes 20.47 Bn transactions in November

EntrackrEntrackr · 9d ago
UPI processes 20.47 Bn transactions in November
Medial

UPI processes 20.47 Bn transactions in November This marks the third time since its launch that UPI has crossed 20 billion monthly transactions, the earlier instances being in October and August this year. Unified Payments Interface recorded 20.47 billion transactions in November 2025, slightly below the 20.70 billion transactions reported in October, according to fresh data from NPCI. Despite the marginal month-on-month decline, UPI transactions grew 32% year on year. In terms of value, UPI reported Rs 26.32 lakh crore in November compared to Rs 27.28 lakh crore in October. While the annual growth rate stood at 22%, the monthly dip points to a mild cool off after October which was driven by festival-related spending. Average daily transactions rose to 682 million, while the average daily transaction value stood at Rs 87,721 crore, slightly below October which reported Rs 87,993 crore. In October, PhonePe continued to dominate the ecosystem with 9.4 billion UPI transactions, well ahead of Google Pay and Paytm. NPCI has not yet released the UPI app-wise distribution for November. UPI, launched by NPCI in 2016, has expanded steadily beyond India through NPCI International to enable merchant payments and cross-border transactions. It is already live in countries such as Singapore, UAE, Bhutan, Nepal, France, Sri Lanka, and Mauritius, with more overseas partnerships currently under rollout. Recently, the Reserve Bank of India said that UPI will be interlinked with TARGET Instant Payment Settlement, the instant payment system operated by the Eurosystem.

Razorpay secures RBI’s cross border license

EntrackrEntrackr · 8d ago
Razorpay secures RBI’s cross border license
Medial

Razorpay secures RBI’s cross border license Razorpay has received the payment aggregator cross border (PA–CB) license from the Reserve Bank of India. This authorisation allows the company to facilitate both inward and outward cross-border payments under full regulatory oversight. With the new license, Razorpay will support exporters, SaaS companies, freelancers, D2C brands, and global companies operating in India. Razorpay’s international payments stack is used by companies such as Airbnb, Agoda, Shopify, Klook, and Hostinger. The cross-border business is growing at 40% year-on-year. Razorpay International Payments enables Indian businesses to accept payments in more than 130 currencies through cards, wallets, and local bank transfers. The platform provides optimised payment flows with a reported 95% success rate for international transactions. For global companies entering India, Razorpay offers a single integration that enables UPI, RuPay, EMIs, netbanking, and over 100 local payment methods. Companies can go live in India without creating a local entity. The platform supports INR-based pricing, OTP-led checkout, and India-based customer support. The company has raised more than $741 million from investors including Lightspeed, Lone Pine Capital, Alkeon Capital, TCV, GIC, Tiger Global, Peak XV Partners, Ribbit Capital, Matrix Partners, Salesforce Ventures, and Y Combinator. With this, Razorpay joins the list of few payment fintech companies in India authorized to offer all three key payment capabilities under a single infrastructure. Last month, Easebuzz, PayU and Pine Labs also received integrated authorisation from the Reserve Bank of India (RBI).

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