While the week has teases from Razer Co-Founder and CEO, Tan Min-Liang, it hints a major reveal; indeed, Razer Pay is deploying with immediate effect and it will take over from MOL e-Wallet services, MOLPay.
This new venture into the mobile wallet space is the end-result of its earlier acquisition. The infrastructure and services that MOL developed for MOLPay is now under the management of Razer. This opened the door to a full re-branding and re-deployment.
For Razer, this is the opportunity it needs to make its biggest move into the fintech space. It’s a huge step and, in Razer’s case, a world’s first. After all, this is a gaming peripheral maker and this move is totally outside of its original job scope. As is, this announcement is a global move for Razer.
“We will rollout into Malaysia first because we are working closely with Berjaya Corporation Berhad. Part of this launch will see Razer Pay engaging more than 6,000 merchants; most of them are under the purview of Berjaya Corp. Of course, we’re more than happy to engage other merchants and, well, Razer Pay does more than act as a mobile payment system. There is the cash top-up and cash transfer features too,” shares Min-Liang.
During the launch, Min-Liang goes into how easy it is to use Razer Pay as he shares on the three features it offers: Topping Up Easily, Transfer Quickly, and Pay Everywhere (Online and Offline).
When queries on plans for expansion came up, Min-Liang reveals that somethings are in the pipeline but he didn’t elaborate. “We will be very aggressive with how we will roll-out Razer Pay. It will go to the rest of Southeast Asia for sure. It’s now a matter of when,” he says.
Present for the launch is Tan Sri Dato Seri Vincent Tan, the Founder of Berjaya Group. Vincent reveals how he is excited for this new platform and the potential it offers as an e-Wallet service. To commemorate the roll-out of Razer Pay, he confirms that Berjaya will commit RM10 to Tabung Harapan Malaysia for each transaction made on the new e-Wallet. This commitment will cap at RM5 million and runs from 4 July to 30 August 2018.
Those keen on trying out Razer Pay now will get a RM10 Bonus Credit. This is upon signing up for the app. It will also run from 4 July to 30 August 2018. The app is now available on Google Play and Apple App Store.