Razer Pay launches in Malaysia
Singapore
RAZER on Wednesday made its debut in Malaysia with the launch of an e-wallet service targeted at the millennial generation.
The Singapore gaming company, co-founded by chief executive Tan Min-Liang, announced that the initiative is a partnership between Razer Inc and Berjaya Corporation Berhad.
Users can transfer funds via peer-to-peer cash transfers using Razer Pay.
They can also transfer money from their Razer Pay e-wallet to their bank accounts. The e-wallet can be used for online transactions as well.
Razer Pay, initially known as One2Pay, was the e-wallet app launched by MOL Inc in 2017. MOL Inc was subsequently acquired by Razer in May this year.
Razer said that more than 6,000 major retail and food-and-beverage outlets, including 7-Eleven, Starbucks and Kenny Rogers, will accept Razer Pay.
The app is available for download from the iOS App Store or Google Play Store. The company is aiming to grow Razer Pay's merchant network to include healthcare, travel and other lifestyle services in Malaysia.
Razer Pay will be available in other South-east Asian countries in the coming months, with a focus on "interoperability between countries", the company said.
Razer has been aggressive in the area of digital payments in recent months. In May, it teamed up with Singtel to link its regional e-payment systems.
Neither company disclosed the timeline for the project.
The Business Times reported that the move would give each partner access to the other's one million merchant points.
Earlier in April, Razer proposed to acquire South-east Asian virtual gaming credits and e-payment platform MOL Global, a company in which it already has a nearly 35 per cent stake, at a valuation of US$100 million.
Market observers said then that the move will not only expand Razer's gaming ecosystem and business in the region, it will also strengthen its growth in the e-payments area.
