Razer launches e-wallet app in Malaysia

Razer yesterday made its debut in Malaysia by launching an e-wallet service targeting the millennial generation.

The Singapore gaming company, co-founded by chief executive Tan Min-Liang, announced that the initiative is a partnership between Razer and Berjaya Corporation.

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.

Razer Pay was initially known as One2Pay, the e-wallet app launched by MOL last year. MOL was subsequently acquired by Razer in May this year.

Razer said 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 firm 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 firm said.

  • 6,000

  • Number of major retail and F&B outlets that will accept Razer Pay.

Razer has been aggressive in the area of digital payments in recent months. In May, it teamed up with Singtel to link their regional e-payment systems. Although both companies did not share on 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.

In April, Razer proposed to acquire South-east Asian virtual gaming credits and e-payment platform MOL Global - a firm in which it already had a nearly 35 per cent stake - at a valuation of US$100 million (S$136 million). Observers had said the move will do more than just expand Razer's gaming ecosystem and business in the region, but will also strengthen its growth in the e-payments area.

A version of this article appeared in the print edition of The Straits Times on July 06, 2018, with the headline 'Razer launches e-wallet app in Malaysia'. Print Edition | Subscribe