Singapore-based gaming hardware manufacturing company Razer has teamed up with financial giant Visa to develop a prepaid card that will allow up to 60 million Razer users to make payments worldwide easily.
In a statement, Razer – which listed on the Hong Kong Exchange in 2017 and was one of the earliest unicorns from Southeast Asia to IPO – said a virtual Visa prepaid solution will be embedded in the Razer Pay e-wallet under the partnership.
Razer Fintech and Visa plan to roll out an exclusive Razer-branded Visa prepaid payment solution integrated into Razer Pay via a mini-app. This will enable Razer Pay e-wallet users to make payments wherever Visa is accepted at 54 million merchant locations around the world.
But more than just providing digital payments solutions to Razer’s users, the partnership with Visa also targets Southeast Asia’s large unbanked and underserved population of over 438 million.
Southeast Asia is also home to a massive youth and millennial population of over 213 million, according to ASEAN’s First ASEAN Youth Development Index 2017.
“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, Visa’s Regional President for Asia Pacific, said.
The integrated prepaid card solution allows users the same convenient top-up and cash-out methods available on Razer Pay, underpinned by an advanced privacy and security framework.
It will 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.
“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,” said Razer co-founder and CEO Min-Liang Tan.
The two firms expect to roll out the integrated prepaid car in selected countries across Southeast Asia in the coming months before expanding globally.
Founded in 2005 and dual-headquartered in San Francisco and Singapore, Razer has 18 offices worldwide and is recognized as the leading brand for gamers in the USA, Europe, and China.
Early this month, LINE app’s fintech arm, LINE Pay, announced that it has partnered with Visa to create new financial services in payments, transfer platforms, and blockchain.
The partnership covers areas such as everyday consumer payments, merchant solutions, B2B and cross-border payments, alternative currency transactions and marketing.
LINE’s 187 million global monthly active users will be able to apply for a digital Visa card from within the LINE app, and eventually, be able to add any of their existing Visa cards to make payments from their mobile phone.