Razer launches e-wallet in Singapore for testing

Local gaming firm Razer has released its electronic payments wallet here in a limited-testing phase six months after it made its debut on the other side of the Causeway.

The e-wallet was launched yesterday for testing by gamers and other users ahead of a full roll-out sometime in the first half of this year.

The testing phase over the coming months will allow Razer Pay users to make purchases at Dunkin' Donuts outlets and Buzz convenience stores owned by Singapore Press Holdings.

Razer chief executive Tan Min-Liang had previously said Razer Pay, which was introduced in Malaysia in July last year, would be available in Singapore by next month.

Hong Kong-listed Razer also named mobile payment company Fomo Pay as its official merchant acquirer yesterday.

Fomo Pay, which provides merchants with the technology to accept payment from multiple e-wallets with a single QR code, will accept Razer Pay on its network of 4,000 payment points in Singapore, while helping to add more merchants to the platform.

The deal with Fomo Pay follows a tie-up last November to enable Razer Pay to be used on unified point-of-sale terminals run by Nets, which is owned by Singapore's three local banks.

Mr Tan said in a statement: "Over the next few weeks to months, we expect tens of thousands of new merchants to begin enabling Razer Pay as part of our partnerships with Nets and Fomo Pay in Singapore."

Fomo Pay chief operating officer Zack Yang said: "Many of our merchants have seen accelerated growth upon the adoption of mobile payments.

"This partnership with Razer Pay... will enable them to extend their reach even further to youth and millennials."

Mr Tan's e-wallet ambitions made headlines after he said in August 2017, in the wake of Prime Minister Lee Hsien Loong's National Day Rally, that he could have a unified e-payment system "nationwide in 18 months".

He later set his sights regionally, inking a partnership with telco Singtel, which has its own plans for an e-payment network across Asia, in May last year. Razer also bought out Malaysian e-payments platform MOL Global for US$61 million (S$83 million) around that time.

Other previously named Razer Pay partners here include energy utilities provider SP Group and ticketing agent Sistic.

Razer, which has been based in San Francisco, broke ground on Feb 22 for its new regional headquarters in the one-north district near Buona Vista.

The building is set for completion by the middle of next year.

A version of this article appeared in the print edition of The Straits Times on March 02, 2019, with the headline 'Razer launches e-wallet in Singapore for testing'. Print Edition | Subscribe