Curlec by Razorpay, a prominent Fintech payment gateway in Malaysia, has entered into a partnership with Seedflex Technologies (Seedflex).
The goal introduce the ‘Pay-As-You-Sell Advance’ (PAYS Advance) for emerging Malaysian entrepreneurs.
PAYS Advance
The PAYS Advance solution of the Singaporean fintech lending provider will be available to Curlec merchants in Malaysia once they register.
Approval does not incur any activation costs and the processing time for deposits is just 48 hours. It offers merchants an efficient and quick solution when they require credit.
Since it is a pioneering product, PAYS Advance functions as a dynamic credit solution for merchants. It can be automatically adjusted to future revenue projections.
In addition, it uses fractional deductions from future sales for returning the advance. 10 weeks of sales are accessible to cashless merchants in advance.
They have the option to repay the credit through automated deductions from any future transactions that are settled with Curlec.
Most importantly, the PAYS Advance financing solution is also Shariah-compliant. This means that it complies with Islamic financial principles, allowing it to cater to a greater number of entrepreneurs.
As compared to traditional lending products, users do not incur any interest charges, late fees, or hidden fees.
There is no need to worry about filling out lengthy forms and there is a one-time flat fee, which is completely transparent.
With this product, merchants can enjoy hassle-free, simple and straightforward credit and benefit from complete transparency.
The Statements
The co-founder and CEO of Curlec, Zac Liew, said that Seedflex shares their commitment to cater to the underserved.
He added that they want to provide burgeoning entrepreneurs access to innovative financial solutions. Therefore, their decision to align with Seedflex is a good one.
He asserted that they were looking forward to empower merchants with PAYS Advance, as it would boost businesses and help entrepreneurs in achieving their dreams.
Similar views were shared by the co-founder and Chief Executive Officer (CEO) of Seedflex, Ritwik Ghosh.
He stated that Curlec’s excellent reputation and its dedication to customer-led innovation was worth noting. Therefore, they were looking forward to working with the Malaysian firm.
He went on to say that they consider every merchant the same and wish to assist underdog entrepreneurs.
In addition, he said that they believe every merchant should have access to credit and get a fair chance. He added that they were looking forward to cater to Curlec merchants based in Malaysia.
The CEO said that they would also continue to focus on innovation and develop new products that can assist entrepreneurs.
The Partnership
Malaysian entrepreneurs would have access to flexible and simple financial solutions with this partnership between Seedflex and Curlec.
PAYS Advance has leveraged the strengths of both firms, which provides merchants with a revolutionary solution to manage their cash flow and achieve growth.