Razer Merchant Services Bags Best Non-Bank FPX Acquirer Award by PayNet For Second Year Running

Razer Merchant Services is awarded the Best Non-Bank FPX Acquirer at PayNet Malaysia’s Malaysian e-Payments Excellence Award 2022 for number of merchants acquired, FPX transactions volume generation and FPX volume growth.

SHAH ALAM, MALAYSIA – Media OutReach – 24 May 2022 – Razer Merchant Services (RMS), the B2B arm of Razer Fintech, has been recognized as the Best Non-Bank FPX Acquirer for the e-Payments Acceptance Growth category at the Malaysian e-Payments Excellence Award (MEEA) 2022 organized by Payments Network Malaysia (PayNet Malaysia).

The annual MEEA award by PayNet Malaysia, the Malaysian national payments network and shared central infrastructure for Malaysia’s financial markets honors banks, non-bank participants, businesses and government agencies for their efforts and contribution to the nation’s cashless agenda.

The award was supplemented by Razer Fintech’s total payments volume (TPV) of $7 billion through its system for FY2021, representing a 63.5% year-on-year growth driven by e-commerce marketplace purchases, food deliveries, and e-wallet top-ups.

“RMS would like to thank PayNet for awarding us this prestigious award for the second year in a row. The award is a testament to the continuous support and trust of our merchants, as we strive to provide the best-in-class payment services. RMS will continue to grow and invest in our capabilities to expand and contribute to our merchants across the Southeast Asian region.” said Lee Li Meng, CEO of Razer Fintech.

“We would like to congratulate RMS on winning the Best FPX Acquirer under the Non-Bank category. RMS showed remarkable commitment in fostering greater e-commerce merchants’ acceptance with continuous merchant engagements for enhanced e-payments experience. We trust this award will inspire RMS to continuously champion enablement of more businesses to adopt ePayments and transform Malaysia into a cashless society. We are encouraged by RMS’ pioneering efforts to migrate merchants from FPX to DuitNow Online/ Banking Wallets and look forward to similar initiatives from RMS in other fronts.” said Khairuan Abdul Rahman, Director of Retail Payment Services of PayNet.

RMS merchants, Touch and Go Digital and Foodpanda advocated for the award through their congratulatory messages and commendations to the payment solutions provider.

“Congratulations to RMS on this prestigious award. TNGD has been utilizing RMS’ payment services since 2019 and we look forward to staying competitive through the plethora of payment channels within RMS’ offerings.” said Danny Chua, Chief Commercial Officer of Touch and Go Digital.

“Foodpanda has recently integrated with RMS, and we are excited to scale our payments by offering our customers the best payment experience. Foodpanda looks forward to continuous support and development from RMS in its payment’s solutions.” said Abhishek Ahuja, Director of Foodpanda APAC.

About Razer Fintech

Razer Fintech is the financial technology arm of Razer Inc. Established in April 2018, Razer Fintech has grown to become one of the largest O2O (offline to online) digital payment networks in emerging markets and has processed over billions of dollars in total payment value. Razer Fintech recorded a Total Payment Volume (TPV) of US$7 billion for FY 2021, representing an increase of 63.5% year-on-year with its B2B arm, Razer Merchant Services (“RMS”), a major contributor to the figure.

RMS, a leading B2B (business-to-business) solution encompasses:

RMS Online: Card processing gateway supporting global scheme cards and over 110 payment methods, powering online payments for global and regional blue-chip merchants in SEA.

RMS Offline: SEA’s largest offline payment network of over 1 million physical acceptance points across SEA. RMS Offline also extends point-of-sale services (such as bill payments and telco reloads), cash-over-counter services including fulfilment of e-commerce purchases, distribution of third-party point-of-sale activation (POSA) cards, and merchant acquiring services for third-party e-wallets.

For more information, please visit our website at merchant.razer.com.