Razer and Visa have recently announced a first of its kind partnership that’s bound to transform the way payments are made in the gaming industry – done by bringing the latter’s global network to Razer Pay e-wallet users.
Razer’s financial technology arm, Fintech, will join Visa’s fintech fast-track program, which makes it easier for fintechs to access the global Visa payments network.
Razer and Fintech will develop a virtual Visa solution that will be embedded in the Razer Pay e-wallet, which in turn will allow up to 60 million Razer users to make payments wherever a Visa is accepted. That’s 54 million merchant locations around the globe.
“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 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.”
– Chris Clark, Regional President, Asia Pacific, Visa
“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 with the opportunities that this innovative payment solution serves to millions of consumers, connecting them 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.”
– Min-Liang Tan, Co-Founder and CEO of Razer
Integration of Visa Prepaid Solution Into Razer Pay
The prepaid solution will seamlessly complement Razer’s existing offerings, including mobile top-ups, leading virtual credits, and entertainment purchases for music and streaming services. Users will also have access to exciting benefits and rewards when using their prepaid cards for ecommerce transactions, as well as when making purchases overseas.
It will also offer users the same convenient top-up and cash-out methods available on Razer Pay, protected by an advanced privacy and security framework. Razer pay has also collaborated with innovative partners to introduce other offerings such as ride-hailing, movie ticketing, and even utility payments.
Bringing Financial Inclusion to SEA’s Unbanked and Underserved
The collaboration between Razer Fintech and Visa also has the potential to extend micro-financial services to SEA’s unbanked and underserved population of over 438 million, and aims to empower them by introducing interactive and straightforward financial planning capabilities with a Razer-twist.
Razer Fintech and Visa see the rollout of these solutions progressively in select countries across SEA in the coming months, before expanding globally.