Razer Fintech and Visa Offers Sneak Peak of New Prepaid Card
by Fintech News Singapore October 6, 2020Razer Fintech, the financial technology arm of Razer has collaborated with Visa, to unveil a brand-new Visa prepaid solution – the Razer Card.
Users can sign up and use the virtual card at no subscription, with the option to upgrade to a Standard or Premium physical card. All card users will get cashback features with no capped limit, a gamified rewards system in-app, and can make payments at over 61 million merchant locations globally where Visa is accepted.
Prior to the official launch, the prepaid card will be made available to 1,337 selected users from now till 31 December, via an exclusive beta testing programme.
This provides selected users an opportunity to experience the virtual beta and physical card first-hand and play a part in the product enhancement process by providing user feedback before the card’s public release.
To incentivise active testing, beta testers will receive an increased 10% cashback on RazerStore and Razer Gold purchases, and a slew of gamified Card Beta rewards where testers complete tasks, level up and stand to redeem up to S$2,000 worth of Razer gear and free card upgrades.
This exclusive three-month beta testing opportunity is the first time a new Razer solution is being conducted in the Singapore market.
Established in 2018, Razer Fintech is a digital payment networks in Southeast Asia. Razer Pay, its B2C e-wallet solution, focuses on offering a plethora of use cases for youth and millennials.
This integrated prepaid payment solution is aligned to Razer Fintech’s ambition to establish its youth bank — one it has outlined in its application for the Monetary Authority of Singapore’s (MAS) digital banking license.
Lee Li Meng
“With this Razer Card, we have co-developed a unique prepaid solution that further cements our position as the largest offline-to-online digital payment network in the region. This collaboration opens up many opportunities for us to reach out and meet the needs of consumers, particularly the youth and millennials,”
said Lee Li Meng, Chief Executive Officer, Razer Fintech.
Kunal Chatterjee
“We’re excited to launch the Razer Card, the first Razer Visa prepaid product, to expand digital payments access to youth and millennials. Razer cardholders will enjoy a number of benefits including unlimited cashback for online and face-to-face purchases. The Razer Card will also feature contactless payment technology, allowing cardholders to tap to pay for their day-to-day activities,”
said Kunal Chatterjee, Visa Country Manager for Singapore & Brunei.
Following the launch in Singapore, and leveraging Visa’s reach in the region, the Razer Card will be made available in other countries globally where Razer Pay is available, subject to local regulatory approvals.
All versions of the Razer Card will be made available to users in Singapore from January 2021 before expanding globally.
Featured image credit: Razer Fintech
