Razer Merchant Services bags Best Non-Bank FPX Acquirer award by PayNet

PETALING JAYA: Razer Merchant Services (RMS), the business-to-business arm of Razer Fintech, has won the Best Non-Bank FPX Acquirer for the e-Payments Acceptance Growth category for the second year in a row at the Malaysian e-Payments Excellence Award (MEEA) 2022.

The annual MEEA award by Payment Network Malaysia (PayNet Malaysia) honours banks, non-bank participants, businesses and government agencies for their efforts and contribution to the nation’s cashless agenda.

Razer Fintech’s win was supplemented by total payments volume of US$7 billion (RM31 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.

Razer Fintech CEO Lee Li Meng said the award is a testament to continuous support and trust of merchants as RMS strives 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,” he added.

Meanwhile, PayNet director of retail payment services Khairuan Abdul Rahman said RMS showed commitment to fostering greater e-commerce merchants’ acceptance with continuous merchant engagements for enhanced e-payments experience.

“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 on other fronts,“ he said.

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