Fintech

Razer Partners Visa To Launch Virtual Prepaid Card, Expand Payment Network To 54M Merchants

Razer today announced a partnership with Visa, which will let up to 60 million Razer users make payments at 54 million merchants worldwide that accept Visa.

The partnership will also see Razer’s fintech arm, Razer Fintech, joining Visa’s fintech fast-track programme.

Under the programme, Razer Fintech and Visa will work together to develop a virtual Visa prepaid solution via a “mini-app” which will be embedded in the Razer Pay e-wallet.

This prepaid solution will complement Razer Pay’s existing offerings, which include mobile top-ups, leading virtual credits, and entertainment purchases for music and streaming services.

Users will also be able to enjoy benefits and rewards when they use their prepaid cards for ecommerce transactions and when overseas purchases are made.

Said Chris Clark, Regional President, Asia Pacific, Visa: “This announcement reaffirms Visa’s commitment to the fast-growing and digitally savvy Southeast Asia region.”

“Together, Visa and Razer Fintech have the opportunity to transform the payments experience for not only the gaming community but many of Southeast Asia’s unbanked and underserved consumers as well.”

Added Min-Liang Tan, Co-Founder and CEO of Razer: “Razer Fintech is a core growth initiative for Razer as we continue to empower digital payments across emerging markets, starting from Southeast Asia.”

“This partnership with Visa significantly extends Razer Fintech’s position as the largest offline-to-online digital payment network in the region.”

According to the press release, Southeast Asia has a “large unbanked and underserved population” of over 438 million, and this partnership aims to extend micro-financial services to this segment.

Razer Fintech and Visa’s solution also wants to “empower [Southeast Asia’s youth and millennials population of over 213 million]” by introducing interactive and straightforward financial planning capabilities with a “Razer-gamified twist”.

Razer Fintech and Visa are looking to roll out these solutions “progressively in selected countries across Southeast Asia in the coming months, before expanding globally”.

Razer Pay is currently still in beta in Singapore, but, according to queries by Vulcan Post, “will be available in Singapore in the coming months”.

 

Subscribe to Vulcan Post Newsletter

Stay updated with our weekly curated news and updates.
 
Read more about our privacy policy here.