Visa, Razer partner for digital wallet to serve underbanked

By Olivia Minnock
Share
Payment solutions giant Visa has partnered with a Singaporean business that aims to improve financial inclusion for the underbanked. Razer is best know...

Payment solutions giant Visa has partnered with a Singaporean business that aims to improve financial inclusion for the underbanked.

Razer is best known for gaming laptops and other equipment, but much like Chinese giant Tencent has diversified from gaming into fintech, offering a mobile payments app for users called Razer Pay.

The pair are developing a Visa prepaid solution, which will allow users to upload credit to a digital prepaid card even if they do not have a bank account. Users can top up and cash out, and are able to pay at any merchant that accepts Visa around the world.

SEE ALSO:

Razer has 60mn registered users, often from countries with poor financial infrastructure. The companies announced their partnership on Monday and are currently rolling out the service across selected countries in the SEA region, but in the long term aim for global expansion.

“Razer Fintech is a core growth initiative for Razer as we continue to empower digital payments across emerging markets,” said Razer CEO Min-Liang Tan. “We are incredibly excited with the opportunities that this innovative payment solution serves to millions of customers, connecting them to an extensive network of merchants globally.”

Share

Featured Articles

Money20/20: Thredd Charts US Expansion with New Fraud Tools

As fintechs race to capture the US market, Thredd bolsters its offering with enhanced fraud prevention and cross-border capabilities

Thredd CEO Highlights Tokenisation Milestone at Money20/20

At Money20/20 USA, Thredd CEO Jim McCarthy reflects on a decade of digital payment innovation and shares his vision for embedded finance

FinTech LIVE New York - The Agenda

Everything you need to know ahead of the return of FinTech LIVE New York next year

G+D Talks Digital Payment Evolution at Money20/20

Digital Payments

TSYS Harnesses AI to Transform Financial Fraud Prevention

Tech & AI

UK Fintech: Why Global Investors Are Looking Elsewhere

Financial Services (FinServ)