Razer Fintech and Visa unveil virtual card for millennials in Singapore
Razer Fintech, the financial technology arm of Razer, has collaborated with digital payments company 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 enjoy year-long 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.
This integrated prepaid payment solution is aligned with Razer Fintech’s ambition to establish the world’s first global youth bank — one it has outlined in its application for the MAS (Monetary Authority of Singapore) Digital Full Bank License in Singapore.
“Right from the start, we have been very excited about our collaboration with Visa to transform the digital payments experience globally. Over the last year, since our initial announcement, a lot of time and effort has gone into developing and perfecting this product, that is truly going to value-add significantly to the lifestyle of our users. 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.
“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 such as taking public transportation on buses and trains, buying movie tickets at the cinemas and purchasing a meal at quick-service restaurants,” said Kunal Chatterjee, Visa Country Manager for Singapore & Brunei.
Prior to the official launch, the first-ever prepaid card under the Razer brand will be made available to 1,337 selected users till December 31, via an exclusive beta testing program. This provides selected users with 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.
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.