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Digital Payments: A ‘Nice-to-Have’ To The Only Way To Do Business

Covid-19 has sent the world into a panic. This is particularly true for businesses, with companies of all sizes being sent into survival mode. If cash flow wasn’t the priority before, it certainly is now.

A survey conducted by SME Malaysia found that only 33% of Malaysian businesses had just enough cash flow to pull through in March, while another 37.8% can sustain themselves until April 2020.

The fallout from this pandemic for businesses is clear for all to see. Initiatives such as going digital, which we previously viewed as “nice to have” pre Covid-19, have quickly accelerated overnight to becoming the only way to do business. This is particularly true when taken against a payments perspective – when there is no cash, no cheques, no over-the-counter transactions, then digital payments are a must.

Here at Curlec, we provide an online platform that helps businesses collect recurring and one-off payments, and ultimately puts them in control of their cash flow. In this article, we will explore how solutions such as ours can help mitigate the short term impacts that we all currently face right now, as well as what can be done longer term to weather the next potential storm.


Make it as easy as possible for your customers to pay

In the midst of the global pandemic, it is more important than ever for businesses to offer convenience and flexibility to their customers. The last thing you need is having your remaining prospects cancel their purchase or subscription due to restricted payment options, especially when sales are at a premium.

Relevance remains the key currency for business owners to scale up their operations effectively, and there has never been a more important time for businesses to become truly digital. To address this issue, Curlec enables business owners such as yourselves to not only manage your payments digitally and remotely, but ultimately the power to design your own payment plan to dictate when to bill, how much to invoice as well as when to collect.

Being truly digital means having to be closely attuned to how your customer wants to pay, or in the case in a lockdown, how they can pay. So, when making payments by cheques or over the counter is out of the question, have your customers complete their transactions directly through your website using Curlec’s API, or utilise our Request-To-Pay feature via email or WhatsApp. Here payment links with pre-filled forms can be sent to your customer, where they can simply authorise within a few clicks.

When payment becomes real-time and instant, all the customers need to do is authorise forms online or approve requested payments in real-time, without even making a trip to the store. This means that you can get paid instantly!


Have full visibility over your payments process

While some perceive going digital as just a requirement to engage with new customers, being digital actually requires you to be open to re-examining your entire way of doing business and understanding where the new frontiers of value are.

The Curlec system easily integrates with accounting systems, meaning that collecting payments become automatic when invoices are due, and reconcile these payments automatically so that you will be able to know what has been collected as well as how many payments that are due or outstanding. Having all this information at hand meant that you can easily manage your projections, as well as having the ability to act on certain issues quicker to avoid any disruptions to your cash flow.

In addition to that, one of the major benefits of going digital with Curlec is its mobility. The cloud enables you and your team to have a consolidated view of all your payment records in real-time, while offering the flexibility to work from any location remotely. Aside from improving the level of productivity and efficiency, this saves you having to deal with stacks of invoices and worrying about payment notices getting lost. You can spend less time worrying about who has yet to pay you and focus more on growing your business.


Widen your collection strategies

Collecting funds, especially recurring payments should be easy. And for most businesses, using Direct Debit puts you in control of when you get paid.

But what happens if the collections fail? Every failed transaction will negatively impact your cash flow, increase churn rates as well as require heavy admin work to be rectified.

So, how does one expand and diversify their debtor strategy when this happens?

With the Curlec portal, you get instant notifications of any failed transactions as well as the ability to automate retries to improve your collection rates accordingly. The system provides a variety of automatic notifications which includes mandate set up, transaction status and failures that encompasses the entire collection process so that you are notified and are able to rectify any related issues instantly. Having full visibility of your collection status using the Curlec portal means you can act on this a lot quicker and strategically.

And if the retries for Direct Debit still don’t work, you don’t need to worry. Curlec gives you the ability to combine your regular collections with our one-off Instant Pay (FPX) tool. As a result, your customers can pay off what is owed for a one-off period while you sort out the recurring issue. So, whether you collect monthly subscriptions, instalments or one-off transactions, collecting payments with Curlec has never been easier.

In a time where cashless methods are the safest and most practical way to conduct your business, it is now mission critical to be able to make the change quickly and become truly digital. So while you work on what needs to be done to sustain and grow your business, Curlec will be right behind you to handle all of your collection needs.

To find out more on how Curlec can help you collect payments remotely, connect with us today by filling in the contact form below.

How Tos Tips

5 Excuses For Late Payments & How To Deal With Them

It probably does not come as a surprise that late payments are not just a problem for SMEs and large corporates in Malaysia, but also for businesses of all shapes and sizes across the globe.

Dealing with late payments has become part and parcel in running a business. Reports suggest an estimated $3.1 trillion are currently stuck in account receivable for U.S businesses alone, writing off around $150 billion every year in bad debt from receivables that could not be recovered.

The decades old practice of late payments has proven to cause difficulties for businesses who have their own overhead and staff to pay, hence, suffer from numerous admin and cash flow issues in trying to stay afloat.

A study by SME Media Group and INTI International University reports 73% of Malaysian businesses suffer from late payments, getting paid on an average of 94 days for invoices with 30-day payment terms.

While recovering from late payments can be a hefty challenge, the most important thing to remember is that you have delivered your end of the bargain, and you have every right to seek for payment. Preparation is key in getting past the excuses provided by both vendors and customers, and taking a proactive stance when speaking with them will help you overcome these challenges.

In this article, we highlight 5 different excuses that customers and clients have commonly used when it comes to late payments, and the fixes you can utilise to ensure that you get paid on time while maintaining a good relationship with the said customer.


Excuse #1: “We have yet to receive your invoice”

Lost invoices happen to be one of the most common delaying tactics used by clients and customers. Whatever your product or services may be, ensure that you keep a paper trail on all your communication with your customers that will prove useful when you take necessary actions to recover these payments.

Here are two ways in which you can do to address this;

i) Request for email acknowledgement upon receipt of your invoice.
ii) Send email reminders before payment is due to ensure that the invoice has been received and any issues they have are answered prior to the due date.

Excuse #2: “The person in charge is not in today”

In any industry sector, the business should still operate as usual even in the absence of the person who issues the company’s payments. However, this excuse has been constantly used as a way to put off payments whenever the collectors come calling.

First of all, ask for the exact person you would need to get in touch with and when they will be available. Remember to make a note on their availability and call back then.

Alternatively, if that doesn’t seem to work out, ask for another person from the team to assist. Today’s technology has made it possible for clients to store proof of delivery, invoices as well as other types of important documents that would be useful to the rest of the team when the person in charge is not available for long periods of time.

Perhaps, to speed up the process, you can offer an alternative payment method and remind them of the possible interest charges should the payment be further delayed to prompt their immediate action.


Excuse #3: “We are waiting for payments ourselves”

In some cases, clients feel that they are entitled to withhold payment until their customers make payment to them.

While you may be willing to forgive the occasional delay, you might want to review your payment plan outlined in the contract with your client or customer, and reiterate the terms they have agreed upon in the beginning of the partnership.

Give them a new deadline and advise that any future services will probably require a deposit ahead of time or at the very least, a part payment or payments in the form of instalments to ensure that you receive some sort of compensation to cover your business needs.

Excuse #4: “There is a problem with the work”

Possibly the oldest excuse in the book, it is common for clients to withhold payment on the grounds that the work is wrong, or it was never signed off. And disputes regarding the work deliverables are often left unattended for as long as possible to cause delays in resolution, in turn, the need for payment as well.

From minor discrepancies to deliverable conflicts, the key here is, the more details you ask, the harder it is to get it wrong. The best thing you can do is to call before the invoice is due so that any feedback with the work is jotted down and gets resolved by the time payment is scheduled to be transmitted.


Excuse #5: “Our system is down”

While struggles with technology are understandable, they are also usually temporary. And blaming payment delays on technology is another way to try and excuse the fact that they are not able to pay you for your services on time.

The best thing to do is to ask when they can expect the issue to be resolved, and if arrangements can be made to send the payment using other methods rather than waiting by the computer.

With resources such as mobile banking and other various methods of payment available, there is no real technical excuse for not being able to provide payment by the time it is due.


Curlec: A Smarter Way to Collect Recurring Payments.

In an industry where chasing payments is commonplace, let outstanding invoices be a thing of the past. Curlec creates a seamless payment experience that enables you to get paid on time, every time via Direct Debit and Instant Pay (FPX).


Improve your cash flow – While traditional payment collections result in never-ending recurring late payments, Direct Debit automatically pulls fees from customer’s accounts whenever it’s due.

Automate Your Payments – As your customer base grows, collecting payments only becomes more and more of a hassle. Provide your customers the option of a more convenient, worry-free way of making payments and stay one step ahead in terms of convenience and flexibility.


Minimise employee workload – Direct Debit’s hands-off approach to recurring payment collections take the burden off your employee’s shoulders. The need for follow-ups are reduced and employees can then turn their focus elsewhere.

Want to talk to us about swapping your current payment solution provider to Curlec? Contact us below and we will get in touch soon!

How Tos Tips

The Ultimate Checklist To Get You Started With Curlec

For some, setting up your payment system can be as easy as popping a checkout button on your site and calling it a day.

For smart business owners, however, taking full control of the entire payment process is definitely the way to go to not only ensure that they provide a seamless payment process for their customers, but also a smarter solution that can help improve their cash flow significantly.

So, if you are a business owner who has just signed up to Curlec, but are not sure where or how to begin, we have come up with the ultimate checklist to get you started with Curlec’s Direct Debit solution in just 3 easy steps.


Deciding On Your Billing Process

Whether you are selling subscription packages or one-off products, the best way to get things rolling is to choose the simplest way possible to process your payments. A method that not only simplifies your workflow, but also provides a straightforward process for customers to complete the payment value chain.

Here are 3 things you will need to consider when structuring your billing tactics:

Sign Up Method – May it be in-store or online, establishing your onboarding method determines where and how your customers sign up. With our web-based application, your customers can make purchases in-store at the point of sale, or have them sign up directly through your website using Curlec’s powerful API. Our system provides an easy solution for customers to authorise their eMandates from wherever they are.

Billing Cycle – Unlike any other payment methods, Direct Debit works great for businesses that charge varying amounts depending on how much a customer uses or buys. You have the ability to customise the amount, date, frequency and duration of payments according to your business model. This means that whether you bill your customers just once a month or everyday of the month, we provide the flexibility to do this!

Dealing with Failed Transactions – Concerned with failed payments? With the Curlec dashboard, you can now get real-time notifications of failed transactions as well as being able to automate collection retries. Additionally, we offer additional payments options such as our Instant Pay (FPX) feature to improve your collection rates.

Determining Your Roll Out Plan

It turns out, timing really is important. But that’s not the only thing that gets your payments going. Even the best possible payment solution can quickly turn disastrous if no proper adoption process is being implemented.

Here are a couple of things you will need to make clear when designing your roll out plan:

Notifying your clients – Identifying key communication strategies to go along with the launch of Curlec will ensure you maximise your adoption rates from the very beginning. The best possible way to do this is to launch your system in phases and communicate this to your clients throughout. Start with the group of people you know are most likely to adopt and succeed, before venturing with the groups who are less open to change.

Getting your team aligned – Most of the time, the difference between a successful and failed adoption is having a great team that works well together for implementation. Always remember that communication works both ways. Make the team feel they are part of the decision making process by giving them a chance to provide feedback and concerns regarding the new system.

There’s more to prepping the team than just having a single training session.

  • Announce the changes in advance, preferably weeks or months before to get them ready.
  • Take advantage of the resources provided by hosting ongoing training sessions to keep the teams engaged and familiarise themselves with the system.
  • Evaluate your roll out success at different intervals as you go forward by consistently following up with the team to ensure everyone is onboard with the process.


Encourage Your Customers To Use Direct Debit

With Curlec, Direct Debit doesn’t just benefit your business, it also brings a whole host of advantages to your customers too. Advantages that ultimately, add to the quality of services that you are delivering.

Mention your payment options from the start – Talk openly about your payment methods to set clear expectations that Direct Debit is the preferred payment channel.

Explain how easy it is to sign up with Curlec – Show customers how easy it is to set up their payment with Curlec. By highlighting key benefits of using Direct Debit to customers, you are offering them peace of mind that builds an element of trust for your business.

Incentivise the switch – The truth is using Direct Debit brings a whole host of cost, time and admin savings to your business. You may pass on some of these savings to your customers and encourage them to start using Direct Debit ASAP. This can be:

  • Discounted monthly fees
  • Waiving any upfront fees
  • A gift for those paying by Direct Debit!

If you haven’t checked out our previous article on how you can further encourage customers to move to Direct Debit, you can brush up on your knowledge here.

Eager to get started on your very own Direct Debit solution with Curlec? Get in touch with us today by filling up the form below, and we’ll help you boost your business with the right roll out plan!

Case Studies

Powered By Curlec: Union Strength

Curlec has enabled us to create a better payment experience for our members with faster payouts and flexible payment options to cater to our packages, resulting in a 40% increase in our collection rates since last year.”
Carlos Villa,
Founder of Union Strength.

Founded in 2017, Union Strength was established with a mission to provide a community of like-minded gym goers a space where they could truly focus on strength and conditioning. Through its personal training, group HIIT and mobility classes, the gym is working towards its vision in playing a huge part to help Malaysians get fitter.


The Challenge

As a newcomer in the scene with no prior experience working with any other payment platforms, Union Strength needed a payment solution that not only provides better recurring payment experience to cater to the different subscription packages for its customers, but to also remove any concerns with high cost, high failed transactions as well as lack of customer support seen in other payment providers.


The Solution

Taking away the admin work associated with their recurring payment collection, Union Strength’s partnership with Curlec has enabled the gym to see a 40% increase in their collection rates since last year. Thus, creating faster payouts and flexible payment options to cater to different membership packages, resulting in better payment experience for its gym members.

Case Studies

Powered By Curlec: Mahzan Sulaiman

As a proponent of technology, our partnership with Curlec has improved our cash flow, shorten our debtor days, as well as automating our workflow to become more efficient.”
Mahathir Mahzan,
Founding & Managing Partner of Mahzan Sulaiman

Launched as a tech-savvy firm of professionals driven to help SMEs achieve their strategic and financial goals, Mahzan Sulaiman aims to provide financial freedom and independence for business owners and stakeholders alike through its core services, which includes #businessimprovement #globalserviceoutsourcing #cloudtechnology and #charteredaccounts.


The Challenge

Prior to the partnership with Curlec, Mahzan Sulaiman utilised traditional and manual methods such as bank transfers and cheques to collect its monthly payments, which resulted in spending half of the time sending out reminders for overdue invoices and chasing for collections.

With high receivable days (> 150 days) as well as numerous overdue payments that strapped their cash flow significantly, the team needed a system that was efficient enough to remove any concerns and provide the automation that is needed to run the business.


The Solution

With the help of Curlec’s Direct Debit solution, Mahzan Sulaiman is now letting outstanding invoices be a thing of the past by streamlining and automating its processes, that not only syncs well within the company itself but also with the client’s cloud accounting processes, welcoming a future of carefree payment solution that significantly improves on its cash flow, shorten their debtor days as well as automating their workflow to become more efficient.



Case Studies

Powered By Curlec: RentGuard

“Through its data tracking and recurring payment reporting system, Curlec has enabled us to double our revenue growth by turning payments into our competitive advantage.”
Jeff Tan,
Co-Founder & CEO of RentGuard

Launched as the first online rental collection system in Malaysia, RentGuard is a property technology startup that aims to digitise property operations by providing a fast and secure platform for both Agencies and Landlords to tackle its business and investments such as Agency Business Process Management, Rental Collection, Tenant Profile Screening as well as Ageing Report.


The Challenge

Since launching in 2016, the team behind RentGuard discovered pretty quickly that the other payment gateways that were utilised not only came with high fees, but also tremendously lack in the systematic integration needed to link the various banks used by their customers.

“We knew that we had to find a different solution to give us the reliability that we needed, and this is where our partnership with Curlec comes in,” says Jeff.
The Solution

RentGuard has now doubled their monthly revenue growth by turning payments into their competitive advantage.

Utilising Curlec’s data tracking and recurring payment reporting capabilities, RentGuard is now able to grow their business by offering Property Agents and Landlords a completely automated solution for rental collection.

Jeff adds: “I can definitely say that Curlec’s Direct Debit was the key that made it possible for us to launch the first ever rental collection tech system in Malaysia.”
Case Studies

Powered By Curlec: Funding Societies Malaysia

“We are now able to open up an additional repayment option to our clients which is automated, resulting in increased customer efficiency and shortened processing time.”
Wong Kah Meng, Co-Founder & CEO of
Funding Societies Malaysia

As the first and largest peer-to-peer (P2P) financing platform in Malaysia, Funding Societies connect creditworthy SMEs with investors through an online marketplace that increases access to financing for SMEs.

Being an alternative financing option that is gaining traction in recent years, Funding Societies help bridge the funding gap by providing an attractive alternative source of capital for local SMEs alike to fund business expansions and meet other financial requirements.

The Challenge

As an investment platform, Funding Societies processes high volume of deposits from investors as well as repayments from SMEs on a regular basis. And due to its operational complexities, processing and reconciling both investments and repayments proved to be a cumbersome task.

On one hand, the team was required to pair each deposit transaction from investors manually, making it an unpleasant experience for investors as it takes approximately 1-2 days for the funds to be reflected in the account. At the same time, the company was also facing late repayments from SMEs, as well as processing tedious cheque payments – hence, the need to manually verify the proof of payment from the issuers, which proves to be both labour intensive and time consuming.


The Solution

Curlec has worked with Funding Societies to implement a payment solution that not only help to streamline the processes, but also optimise their payments by expanding their business through a fast and simple online process.

For investors, they can now make real-time deposit immediately in their Funding Societies account without needing to send in their bank-in slip through Curlec’s Instant Pay (FPX).

And as for SMEs, they can now opt for Curlec’s Direct Debit solution as a repayment option that will automate their payments, resulting in increased customer efficiency and shortened processing time.

Taking control of payments with Curlec’s Direct Debit and FPX solutions, Funding Societies is now staying one step ahead by offering additional payment and repayment options for both investors and SME’s, as well as automating these processes to finally further empower Malaysian SMEs both strategically and economically.

Life at Curlec

Michelle Lim: Building The Best Direct Debit Experience Through Customer Success Management

While this particular job goes by many names across the board, Customer Success is becoming one of the most important transformative aspects of growth for all types of businesses today. We can no longer talk about Customer Success as a separate function within the business, but ultimately, a driving force to the way we do business.

Fully strategised to maximise customer and business sustainability by optimising its efforts, Curlec’s Customer Success team is constantly evolving to find effective ways to manage our clients, as well as making them as successful as possible when using our services.

We sat down with Curlec’s Head of Customer Success, Michelle Lim to discuss her role, as well as how she is helping businesses, big and small to derive value from their partnership with Curlec.


What is Customer Success, and why does it matter?

As its name implies, Customer Success is focused on working proactively in partnership with clients and customers to drive the client experience forward and ensure a successful flourishing partnership in the future.

As the Head of the Customer Success team here at Curlec, I make sure we help our clients get the most out of their experience with us by delivering value throughout every step of the customer journey. And we work closely with our product and development team to do so, that includes designing programs for client onboarding, product training, as well as customer service and support.

My main role here is to help merchants to quickly master our system, and of course, to advise them on how they could leverage our system to reach their goals and untapped potential. We do this by custom designing the client program, encourage high-value feature adoption as well as provide on-going value driven engagement with the clients accordingly.

You have dealt with numerous clients at Curlec, ranging from SMEs, Enterprises and Big Corporations alike. What are some of the distinctive differences you see when handling these cases in terms of Customer Success Management?

The portfolio of clients I have served includes businesses from different industries, may it be Fitness, Professional Services, Financial Services, Property, Education and etc.

And based on my experience, the definition of a payment solution provider for these businesses can be very broad. Different companies will need different requirements and solutions when it comes to billing and collection cycles.

Identifying their payment pain points as well as providing the best solution are parts of what I do on a daily basis. Some will require payments in the forms of weekly or monthly recurring payments, a few would opt for one-off payments, and in some cases, clients will need to include instalment plans as well, which we can assist with to fit their needs accordingly.

However, the engagement goal has always remained the same – to overcome the traditional payment barriers such as expensive cost, error-prone and time consuming processes that are associated ‘push’ payments, and replacing this with what we coined as ‘pull’ payments that will automate these processes so that the merchants can be in control of when they get paid.

What were some of the key challenges along the way?
Well, the way I see it, Direct Debit is still new in the Malaysian market. So the key challenge here is to educate the public on how the system works, and how it can be beneficial to not only big corporates and Enterprises, but also to SMEs.

Historically, the banks only served large corporations for this particular method. And now, with our resources, we are able to help the SME market, who never had the payment option available to them before, to access this particular method.

Our role in Customer Success is all about being proactive, as opposed to reactive. So, looking at it from that perspective, the main challenge that we face is to constantly work to figure out the ongoing efforts so that we can continue to deliver value to our clients and customers, as well as improve their payment processes using Curlec.

How do you measure success in your current role, and how do you keep yourself up to date on the changes in the industry?

As of date, we are now serving a diverse range of businesses in terms of size and industries. This includes more traditional brick and mortar businesses, such as gyms and tuition centres, to technology related businesses such as P2P financing platforms.

I measure success by looking at:

  • The ability to turn these new clients into long time partners
  • The ability to increase our client’s lifetime value
  • The ability to prioritise client issues and improve on their experience so that they fully leverage on our system to process their month-to-month collection

The key idea here is to be constantly learning. Utilising all the channels that are available to us such as industry news, having good connections with experts in the field who will be able to help you grow and advise you on how to improve in your craft.

Want to work with us? Our team come from a variety of backgrounds and we always welcome diversity – submit your applications today by visiting

Case Studies

Powered By Curlec: AXA AFFIN Life Insurance

“With 61% of our customers opting for Direct Debit, Curlec has clearly helped us move our business forward by making the customer experience much simpler, resulting in a 300% month-on-month revenue growth in our online health insurance product.”
Rohit Nambiar, CEO of AXA AFFIN Life Insurance.


With a purpose to empower people to live better lives, AXA AFFIN Life Insurance aims to disrupt the insurance/health space by putting the customers at the centre of everything they do through the launch of the first-in-the-market online medical plan for Malaysians and expatriates. AXA eMedic offers immediate and convenient purchase of medical cards designed to digitally inclined lifestyle of millennials today.


The Challenge

While AXA has garnered much success and interest among millennials comprising of young professionals and families with the launch of the eMedic online insurance in 2018, a large pool of these potential customers face payment roadblocks due to the lack of credit card ownership by Malaysians (less than 21%) as well as the cumbersome processing to set up a standing order to authorise monthly payments using credit/debit cards.


The Solution

With the help of Curlec’s online Direct Debit solution, AXA can now offer customers a unique health ecosystem as eMedic customers can now opt for monthly payments using the preferred online banking account, without the hassle of setting up a standing order and the need for a credit card.

“Curlec’s Direct Debit service has helped enhanced our customer purchase experience by providing a hassle free insurance purchase at their fingertips. We believe this has certainly help drive us to be the preferred health insurer among the Millennials and digital natives today,” says Rohit.

Since making the switch to Curlec in December 2018, the company has seen a 300% month-on-month revenue growth with 61% of customers opting to use Direct Debit as a method of payment.

Following this success, AXA has recently launched the eMedic Family Plan – a single, online medical package for families.


Direct Debit vs. Payment Gateways

According to the 2019 Nielsen Payment Landscape report, two in three Malaysians have gone cashless with 57% of the population utilising online banking, and only 27% have opted to use credit cards to pay for their expenses.

There is no denying that when it comes to accepting and processing payments, payment gateways such as PayPal and Stripe have been the de facto solution for business owners. However, with the rise of the subscription economy and the shift towards payment digitisation, many more viable options for processing recurring payments such as Direct Debit have surfaced in the market.

So, whether you are a new business looking to set up a new payment system, or if you are a regular business planning to switch up your payment providers, any changes you make to the payment methods makes that much of a difference from having to make a successful sale, to losing that particular customer to another merchant due to payment preference issues.

In this article, we will shed some light on Direct Debit vs. Payment Gateways along with their differences, benefits as well as disadvantages to help you narrow down your choice to best suit your business needs.

But first…

What Is It And How Does It Work?

Let’s start off with payment gateways. A payment gateway is a conduit between the customer and the merchant that processes credit card payments for businesses. A virtual service that collects credit card information securely, stores it, and routes it to a payment processor every time a transaction needs to be made. As a Third Party Acquirer (TPA), the proceeds of your transactions will be received on your behalf before the funds are directed to your bank account in batches over a certain period of time.

On the other hand, and contrary to popular belief, Direct Debit is not a payment gateway, but is categorised as a payment solution that allows businesses to pull payments directly from their customers’ bank account. It is the easiest way for businesses to receive regular or recurring payments from a customer. By filling out a one-time online eMandate form, the customer gives permission for the business to collect payments directly from their account when it is due. Unlike traditional TPAs, settlement happens solely between the buyer’s bank and the seller’s bank, and the funds will go directly into the merchant’s bank account.

So, while there are plenty of payment solutions in the market, there is no one solution that fits all. What is less clear for people for the most part are the ins-and-outs related to each of these concepts, and how choosing and configuring them can impact your business.


Distinguishing The Key Differences
Which one is better?

With all that is being said, the answer to this question boils down to the 3 important differentiations below that could make or break your business.

Flexibility – Utilising a subscription model is more than just charging the same fees to the same customers over a certain period of time. You should also take into consideration of having a payment provider that supports a variety of package plans, to offer not only a variety of billing cycles but with flexible time periods and multiple pricing levels as well to improve customer retention.

Settlement/Payout policy – While some payouts are performed on the same day, others may be performed in batches and could take multiple days before it is successfully transacted into your account. Find a solution that will ensure that you receive the payments on time so that you are able to predict your cash flow.

Reporting – Whether you want to see a single transaction or analyze trends for an entire portfolio, reporting gives you real-time visibility into your transactions. You would want a solution that provides not only daily transaction reports, but also specialised ones such as settlement report, payment modes report, unsettled/failed transactions report, etc.

In any case, both Direct Debit and Payment Gateway solutions offer services beyond payment processing. However, if your plan is to collect recurring payments, then the advantages are obvious. While payment gateways provide options for recurring subscriptions, credit card payments often expire and lead to high level of churn. So, if you are a subscription-based business utilising credit card payments, you might want to rethink your strategy on this.


How Does Curlec Stand Out?

As the only payment solutions provider that utilises online Direct Debit in Malaysia, Curlec creates a seamless payment experience that enables you to get paid on time, every time via Direct Debit and Instant Pay (FPX).

Curlec’s simplicity makes a powerful platform for businesses of all shapes and sizes as the system is designed to save you time and manual administrative work, allowing you to focus on growing your business. Hence, putting you, the merchants in control of your own cash flow.

Want to talk to us about swapping your current payment solution provider to Curlec? Contact us below and we will get in touch soon!