Razer Merchant Services awarded the Best Non-Bank FPX Acquirer at PayNet Malaysia’s Malaysian e-Payments Excellence Award 2021 for number of merchants acquired, FPX transactions volume generation and FPX volume growth.SHAH ALAM, MALAYSIA - Media OutReach - 16 August 2021 - Razer Merchant Services (RMS), the B2B arm of Razer Fintech, has been recognized as the Best Non-Bank FPX Acquirer at the Malaysian e-Payments Excellence Award 2021 organised by Payments Network Malaysia (PayNet Malaysia), the national payments network and shared central infrastructure for Malaysia's financial markets.
The annual award honors banks, non-bank participants, businesses and government agencies for their efforts and contribution to the nation's cashless agenda. According to a JPMorgan's E-commerce Payments Trends: Malaysia report, FPX Payments is identified as the preferred method of payments by e-commerce users in Malaysia and is expected to account for 48% of all e-commerce payments in 2021. "Razer Merchant Services Sdn Bhd was recognised as Best FPX Acquirer for Non-Bank category of the Malaysian e-Payments Excellence Award 2021 for its role and contribution to the growth of FPX including volume generation, volume growth and number of merchants acquired during 2020. With this recognition, we look forward to their continued support in propelling the adoption of e-payments further in this country," said PayNet Malaysia's Director of Retail Payments Services, Mr. Khairuan Abdul Rahman. "We are deeply honored by the prestigious award and would like to thank PayNet for the recognition. This is a testament of the strides we have made in our fintech business over the last few years since we embarked on this journey and are highly appreciative of the trust and continuous support of our merchants. Razer Fintech continues to see further momentum in the first half of 2021 with B2B payments Total Payment Volume (TPV) growing at high double-digit year on year. Looking ahead, we will continue to invest and grow our capabilities in the region to address the needs of our merchants," Razer Fintech CEO, Lee Li Meng said. RMS merchants, Hermo, Doctor2U and BP Healthcare Group shared their congratulating messages and commendations to RMS on the award and renewed their continued trust in the payment solutions provider. "RMS has maintained secure and reliable FPX integration of Doctor2U & BP Healthcare platform since 2011. We look forward to continuous reliability and growth with RMS," said Founder & CEO of Doctor2U and Executive Director of BP Healthcare Group, Garvy Beh. "We are truly grateful towards the support from RMS, be it the maintenance and support for any payment issues. This has indeed helped us in providing the overall user shopping experience especially during check out. We are looking forward for future collaborations and further development together with Razer Merchant Services," said CEO of Hermo, CK Khong.