- Provides safer, trusted payment running for players and designers
- Approval allows Razer Gold to expand its reach, help the game industry
The Monetary Authority of Singapore ( MAS ) has granted the company’s founders ‘ approval to operate as a major payment institution, according to Razer Gold, the unified virtual currency used by gamers worldwide. This allows Razer Gold to develop its product range and offerings while offering frictionless payment options for gaming platforms.
Razer Gold has been conducting business as part of a temporary provision as part of the transitory arrangements made since the Payment Services Act’s inception. This initial acceptance represents a significant step in the development of its status as a big pay organization. Once it has obtained the licence, Razer Gold may be authorised to offer restricted payment services, including account issuance, facilitating both private and cross-border money transfers, merchant acquisition, and providing e-money issuance services—all of which are necessary for supporting the dynamic and fast growing gaming industry.
Razer is celebrating a major step by obtaining this in-principle consent from MAS. It reflects our unwavering commitment to upholding the highest standards for conformity and advancing our long-term goals for sustainable development. It strongly positions Razer as a trusted spouse in Singapore’s online economy”, said Adisorn Phonnarut, International Head of Razer Gold.
The thoroughness of the licensing procedure and the initial approval show how dedicated our team was to creating a solid compliance framework. We look forward to improving our techniques and working with MAS, our partners, and the gaming industry to create a safe, trustworthy transaction ecosystem that meets the changing needs of the sector, he continued.
Razer Gold will continue to offer players and game developers faster, safer, and more trustworthy transaction processing as the company continues to innovate and adapt to the changing demands of the gaming industry.
As a member of Razer, the world’s leading global life product for players, Razer Gold provides one-stop access to full coverage of both online and off-line channels in Singapore and emerging markets. It is accessible in more than 50 000 sports and entertainment titles, and players may use Razer Gold to buy in-game items like Razer Silver and unique deal deals.
For more information on Razer Gold, please visit https ://gold .razer.com