With the MAS in-principle approval, Razer Gold is set to enhance payment services for gamers, merchants, and partners in Singapore’s digital economy.
Singapore – Razer Gold, the unified virtual credits for gamers worldwide, today announced that it has received the in-principle approval from the Monetary Authority of Singapore (MAS) to operate as a Major Payment Institution. This significant milestone paves the way for Razer Gold to provide seamless payment solutions for gaming platforms, and to further expand its reach and offerings.
To date, Razer Gold has been operating under a temporary exemption as part of transitional arrangements following the commencement of the Payment Services Act. This in-principle approval is an important milestone for Razer Gold to transition towards being licensed as a Major Payment Institution. Once it has obtained its Major Payment Institution licence, Razer Gold will be authorized to offer regulated payment services, including account issuance, facilitating both domestic and cross-border money transfers, merchant acquisition, and providing e-money issuance services. All of which are essential for supporting the dynamic and rapidly growing gaming industry.
“Securing this in-principle approval from the MAS is a significant milestone for Razer. It reflects our unwavering commitment to upholding the highest compliance standards and advancing our long-term vision of sustainable growth. It firmly positions Razer as a trusted partner in Singapore’s digital economy,” said Adisorn Phonnarut, Global Head of Razer Gold. “The licensing process has been thorough, and this in-principle approval is a testament to our team’s dedication in establishing a robust compliance framework. We look forward to enhancing our systems and collaborating with the MAS, our partners, and the gaming community to foster a secure, reliable payment ecosystem that meets the evolving needs of the industry.”
Razer Gold – Empowering Gamers with Seamless, Secure Payment Solutions
As Razer Gold continues to innovate and adapt to the evolving needs of the gaming industry, the brand will continue to deliver faster, safer, and more reliable payment processing for gamers and game developers alike.
As part of Razer, the leading global lifestyle brand for gamers, Razer Gold provides for one stop access to complete coverage of online and offline channels throughout Singapore and emerging markets. It is available in over 50,000 games and entertainment titles and gamers can use Razer Gold to purchase games and in-game content – including getting rewarded with Razer Silver and exclusive game deals.
For more information on Razer Gold, please visit LINK.
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ABOUT RAZER
Razer™ is the world’s leading lifestyle brand made For Gamers. By Gamers.
The triple-headed snake trademark of Razer is one of the most recognized logos in the global gaming and esports communities. With a fan base that spans every continent, Razer has designed and built the world’s largest gamer-focused ecosystem of hardware, software and services.
Razer’s award-winning hardware includes high-performance gaming peripherals and Blade gaming laptops.
Razer’s software suite, which consists of Razer Chroma RGB, Razer Synapse and more, boasts over 200 million users, offering customization, lighting effects and optimization.
Razer also offers payment services for gamers, youth, millennials and Gen Z, through Razer Gold, one of the world’s largest game payment services to over 50,000 games and Razer Silver, the accompanying rewards program.
Razer is committed towards a sustainable future and is taking responsibility through its #GoGreenWithRazer movement – its 10-year roadmap that aims to minimize environmental impact through its various initiatives.
Founded in 2005, Razer is dual headquartered in Irvine, California and Singapore, with regional headquarters in Hamburg and Shanghai and 19 offices worldwide.
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Nikhil Kharoo
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Razer — For Gamers. By Gamers.™
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