Razer and Visa to launch Razer-branded Visa prepaid payment

Razer’s financial technology arm, Razer Fintech, has inked a deal with Visa’s fintech fast-track program, which is designed to make it easier for fintechs to access the global Visa payments network. Razer Fintech and Visa will develop a virtual Visa prepaid solution to be embedded in the Razer Pay e-wallet, that it claims, will allow up to 60 million Razer users to make payments wherever Visa is accepted, at 54 million merchant locations worldwide, the two said in a press statement.

Razer Fintech and Visa will be rolling out an exclusive Razer-branded Visa prepaid payment solution integrated into Razer Pay via a mini-app. The move, which allows users to make payments where Visa is accepted, seeks to cement Razer Pay’s position as one of Southeast Asia’s leading e-wallet platforms. Users using their prepaid cards for eCommerce transactions and purchases overseas are presented with various benefits and rewards.

According to Razer co-founder and CEO Min-Liang Tan, Razer Fintech is a core growth initiative for the company 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,” he added.

The prepaid solution will also complement Razer Pay’s existing offerings, which include everyday essentials such as mobile top-ups, leading virtual credits, and entertainment purchases for music and streaming services. Additionally, the company has also tied up with partners to add offerings such as ride-hailing, movie ticketing, and utility payments in streamlined mini-applications.

Through the collaboration, the two companies look to enhance the financial literacy levels of the Southeast Asia population, and meet the demands of youths and Millennials in the global cashless economy. For a start, Razer aims to empower the early adopters by introducing interactive and straightforward financial planning capabilities “with a Razer-gamified twist”. Razer Fintech and Visa anticipate rolling out the financial tools progressively in selected countries across Southeast Asia in the coming months, before expanding globally.

Chris Clark, regional president, Asia Pacific, Visa added: “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.”

Read More News