- Integration of Visa prepaid solution in Razer Pay e-wallet to enable users to make payments at 54 million merchant locations on Visa's global network
- Bringing financial inclusion to Southeast Asia's unbanked and underserved population
KUALA LUMPUR, Malaysia– (BUSINESS WIRE) -#Razer–Razer ™, the leading global lifestyle brand for gamers, and Visa, the world's leading digital payments company, has announced a first of its kind partnership that will make payments in the gaming industry Pay e-wallet users.
The partnership will see Razer's financial technology arm, Razer Fintech, join Visa's fintech fast-track program, which is designed to make it easier for customers to access the global Visa payments network. Here, Razer Fintech and Visa will develop a virtual Visa prepaid solution to be embedded in the Razer Pay e-wallet, which will allow 60 million users to make payments wherever Visa is accepted at 54 million merchant locations worldwide.
Chris Clark, Regional President, Asia Pacific, Visa, said: “We are pleased to partner with such a forward-looking and innovative company that understands the value and importance of expanding access to digital payments. This announcement reaffirms Visa's commitment to the fast-growing and digitally savvy Southeast Asia region. Together, Visa and Razer Fintech has the opportunity to transform itself into an experience for many.
Min-Liang Tan, Co-Founder and CEO of Razer, said: “Razer Fintech is a core growth initiative for Razer as we continue to empower digital payments across emerging markets, starting from Southeast Asia. We are incredibly excited by the opportunities for this innovative payment solution to connect to an extensive network of merchants globally. This partnership with Visa significantly extends Razer Fintech's position as the largest offline-to-online digital payment network in the region. "
INTEGRATION OF VISA PREPAID SOLUTION INTO RAZER PAY
Razer Fintech and Visa look to roll out an exclusive Razer-branded Visa prepaid payment solution integrated into Razer Pay via mini-app, which will cement Razer Pay's position as one of Southeast Asia's leading e-wallet platforms.
By leveraging Visa's global network, Razer Pay users will be able to make payments wherever Visa is accepted. The prepaid solution will complement Razer Pay's existing offerings, which includes everyday essentials such as mobile top-ups, leading virtual credits, and entertainment purchases for music and streaming services. Users will also be able to benefit from rewards when using their prepaid cards for e-commerce transactions and when they make purchases overseas.
The integrated prepaid card solution will offer users the most convenient top-up and cash-out methods available on Razer Pay, underpinned by an advanced privacy and security framework. Razer Pay has collaborated with innovative partners to enhance its existing offerings by introducing ride-hailing, movie ticketing and utility payments in streamlined mini-applications.
BRINGING FINANCIAL INCLUSION TO SOUTHEAST ASIA'S UNBANKED AND UNDERSERVED
Southeast Asia has a large unbanked and underserved population of over 438 million1. The partnership between Razer and Visa has the potential to extend micro-financial services to this underserved segment. Southeast Asia is also home to a massive youth and millennial population of over 213 million.2
The collaboration between Razer and Visa aims to empower this segment of early adopters and introduces interactive and straightforward financial planning capabilities with a Razer-gamified twist. These capabilities will help to enhance the financial literacy levels of the Southeast Asia population. Razer Fintech and Visa's partnership will help meet the needs of the market and provide innovative financial tools for young people to participate in the global cashless economy.
Razer Fintech and Visa anticipate rolling out these solutions progressively in selected countries across Southeast Asia in the coming months, before expanding globally.
Razer ™ is the world's leading lifestyle brand for gamers. The triple-headed snake trademark of Razer is one of the most recognized logos in the global gaming and export communities. With a fan base that spans every continent, the company 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, Blade gaming laptops and the acclaimed Razer Phone. Razer's platform software, with over 60 million users, includes Razer Synapse (an Internet of Things platform), Razer Chroma (a proprietary RGB lighting technology system), and Razer Cortex (a game optimizer and launcher). In services, Razer Gold is one of the world's largest virtual credit services for gamers, and Razer is the e-wallet designed for youth and millennials.
Founded in 2005 and dual-headquartered in San Francisco and Singapore, Razer has 18 offices worldwide and is recognized as the leading brand for gamers in the USA, Europe and China. Razer is listed on the Hong Kong Stock Exchange (Stock Code: 1337).
ABOUT VISA INC.
Visa Inc. (NYSE: V) is the world leader in digital payments. Our most innovative, reliable and secure payment network - enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world and is capable of handling more than 65,000 transaction messages per second. The company's focus on innovation is a driving force behind the dream of cashless future for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce. For more information, visit www.visa.com.sg.
Razer - For Gamers. By Gamers.™
1 KPMG Fintech: Opening the door to the unbanked and underbanked in Southeast Asia, accessed at: https://home.kpmg/xx/en/home/insights/2016/04/fintech-opening-the-door-to-the-unbanked-and-underbanked-in-southeast-asia.html
2 ASEAN's First ASEAN Youth Development Index 2017
Visa Worldwide Pte. Limited
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Ruder Finn Asia
Phone: +65 9157 8826