Curlec by Razorpay, a payment gateway firm, has announced a partnership with TNG Digital, the company that operates TnG eWallet. With the collaboration, Curlec is now one of the first payment gateways to integrate recurring payments into the popular e-wallet platform.
What does this mean for regular users? Well, it seems that the partnership will widen the reach of digital payments to those in the rural areas, specifically those who are unbanked. While those without bank accounts can already pay for stuff using e-wallets, they might not necessarily be able to pay for online subscriptions, as that usually requires a credit or debit card.
The new integration allows unbanked users to pay for gym memberships, streaming subscriptions, and other types of recurring payments using just TnG eWallet. Of course, this also enables small and medium-sized companies to also implement subscriptions more easily with Curlec’s payment gateway through the e-wallet platform.
Citing a recent study by Ipsos Malaysia, Curlec CEO and co-founder Zac Liew says that “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.”
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