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Razer Pay has 300k users in Malaysia within 48 hours of launch

Razer announced that within 48 hours from the launch of Razer Pay on 4 July 2018, over 300,000 users in Malaysia downloaded and signed up for the Razer e-wallet app “designed for youth and millennials”. The company claims that this could be a speed record for e-wallet adoption in the region.

razer pay malaysia

Also within the same 48 hours, over 11,000 transactions were made by first-time Razer Pay users at Berjaya Group stores (such as 7-Eleven and Starbucks), generating over RM110,000 worth of donations to the Tabung Harapan Fund by the Berjaya Group.

Said co-founder and CEO of Razer Inc, Min-Liang Tan: “Razer Pay launched globally in Kuala Lumpur and we are heartened by the incredible response from users. We will continue bringing more services and improvements to the app, and we thank users in Malaysia for their confidence in Razer.”

From 4 July to 30 Sep 2018, users who sign-up for Razer Pay will receive RM10 bonus credits as part of the launch celebrations. To get started, download the Razer Pay Malaysia app from iOS App Store or Google Play Store. Upon successful sign-up with a valid local mobile number, users will receive RM10 bonus credits to spend for in-store purchases.

The bonus credits can be used for in-store purchases (eg. buying coffee from Starbucks or over-the-counter purchases from 7-Eleven). The bonus credits cannot be used for other services such as in-app purchases of Mobile PIN reloads, game PINs and entertainment services. The bonus credits are non-transferable, cannot be exchanged for cash and will expire after 90 days from account activation. The total bonus credits are capped at RM5 million, so there are now less than 200,000 sign-ups available before the launch promotion ends.

Over 6,000 major retail and F&B outlets will accept Razer Pay, with participating brands such as 7-Eleven, Starbucks, Singer, Cosway, Greyhound Café, Wendy’s, Kenny Rogers, Krispy Kreme, 99 Speedmart, Thundermatch, Sweet Hut and more.

Razer said its Razer Pay service will grow its merchant network rapidly to encompass F&B, healthcare, travel and other lifestyle services in Malaysia.

To add funds to a Razer Pay account, users can visit any 7-Eleven store in Malaysia at any time to buy a Razer Pay top-up PIN. Alternatively, users can also use their online banking account to add funds. Participating banks include AmBank, Bank Islam, CIMB, Hong Leong Bank, Maybank, Public Bank and RHB Bank.

With Razer Pay, users can transfer funds to family and friends easily (i.e. peer-to-peer cash transfers) in just a few steps. Users can also transfer money quickly from their Razer Pay e-wallet to their bank account.

Razer Pay can be used for online transactions. For example, users who love games and video entertainment can purchase PIN codes instantly for popular services such as Steam Wallet, Garena, Sony PlayStation, Spotify, iflix, Astro NJOI, zGold MOLPoints and more. At the same time, prepaid mobile customers can also choose to top up their accounts with Razer Pay if they have an account with Malaysia’s top telcos – UMobile, Digi, Maxis, Celcom and more.

As a partner to Razer Pay, Berjaya Corporation Berhad has pledged to donate up to RM5 million to the national Tabung Harapan Malaysia fund.

The fund was set up by the Ministry of Finance Malaysia on 30 May 2018 as a crowdfunding initiative to reduce the country’s national debt. From 4 July to 30 Aug 2018, Berjaya has committed to donating RM10 with each first-time use of the Razer Pay wallet at participating Berjaya outlets – 7-Eleven, Starbucks, Singer, Cosway, Greyhound Café, Wendy’s, Kenny Rogers, and Krispy Kreme.

About Kugan

Kugan is the founder of MalaysianWireless. He has been observing the mobile industry since 2003. Connect with him on Twitter: @scamboy