Gaming hardware maker Razer today announced its e-wallet service Razer Pay in Malaysia through a partnership with local conglomerate Berjaya Corporation Berhad.
Billed as “designed for youth and millennials” according to a statement from the company, the e-wallet app will allow users to top up funds, transfer money from one person to another, and make payment online.
Top-up could be made by visiting local 7-Eleven stores in Malaysia to buy a ‘top up PIN’ or to transfer funds from their online banking accounts to the app itself. Currently, participating banks include AmBank, Bank Islam, CIMB, Hong Leong Bank, Maybank, Public Bank and RHB Bank.
Users can also use their e-wallets to pay for various online services and games, from zGold MOLPoints, Steam Wallet, Garena, Sony PlayStation, Spotify, iflix, Astro NJOI and more. Those on prepaid mobile accounts with uMobile, Digi, Maxis and Celcom, can also top up their SIM cards with Razer Pay.
Users of Razer Pay will be able to use the app at more than 6,000 retail and F&B outlets, from popular brands like 7-Eleven to Starbucks to Wendy’s and Krispy Kreme.
Berjaya Corporation Berhad has also pledged to donate up to RM5 million ($1.2 million) to the country’s national Tabung Harapan Malaysia fund, which was set up on 30 May 2018 as a way for Malaysians to help reduce the nation’s debt.
Based out of Kuala Lumpur, Malaysia, Berjaya Corporation Berhad is one of the largest firms in the country, its interests spanning across various industries including real estate, food and beverage, gaming and lottery management, and motor trading and distribution.
The Malaysian firm will also donate RM 10 (around $2.5) with each first use of Razer Pay at participating Berjaya brands, the release added. The country is currently owing RM 1 trillion (around $251 billion) in national debt.
In April 2018, Razer announced that it will spend an additional $61 million to acquire remaining shares of Malaysian firm MOL Global, after already investing $20 million in the virtual currency firm in 2017.
Right now, MOL’s e-wallet app ONE2PAY which was launched in 2017 will be changed to Razer Pay, and users of the older app will be automatically upgraded through app updates.
Southeast Asia’s e-pay space heating up
In Singapore, e-payment options are not in lack, but the challenge is in having an e-wallet that is usable at most places.
Founder Tan Min Liang, who is Singaporean, once tweeted at the Prime Minister of Singapore an offer to ‘unify’ the e-payment options in Singapore, to which the latter replied, “Make me a proposal, and I will study it seriously.”
Vehicle-hailing platform company Grab has also launched its own GrabPay option, which allows users to pay via scanning a QR code available at the various establishments participating in the programme. GrabPay was also launched in Malaysia early last month.
China’s Ant Financial has also been aggressive in Malaysia with its e-payment platform Alipay, having partnered with Malaysian banks CIMB and Public Bank as well as Groupon successor Fave. Tencent also launched WeChat Pay in Malaysia last month.
Razer plans to roll out the app, which is available on the iOS App Store and Google Play Store, in other Southeast Asian countries in the coming months.
Razer made its fame with its gaming devices, from keyboards to headsets to its computer mouse. Dual-headquartered in San Francisco and Singapore, this company has entered the smartphone space, with its Razer Phone, a phone said to be made for gamers.
Editor: Ben Jiang
