United Overseas Bank Limited (UOB) and Razer Inc. (Razer) has announced that they have entered an exclusive partnership while launching Razer’s e-wallet in Singapore. One more app to download sia.
The e-wallet is “designed for youth and millennials”, and is slated to be released “within the next few months”. On UOB’s side, they will be facilitating payment and cash management solutions, processing payments for Razer Pay’s global network of merchants so that Razer Pay Singapore users would be able to top up their e-wallets.
UOB and Razer are also said to be exploring the use of PayNow Corporate to allow digital payments to merchants and users. All that is required is the business’ Unique Entity Number or the user’s mobile phone number.
Thanks to UOB’s digital foreign exchange solution, Razer has access to wholesale foreign exchange rates when making payments to its merchants around the globe. Thankfully, Razer Pay Singapore users will also get to enjoy “competitive FX rates when making in-app purchases in a foreign currency.”
The Razer Pay was first launched in Malaysia on 4 July 2018 and received more than 500,00 sign ups in less than a week. There are over 6,000 vendors in Malaysia, including 7-Eleven, Starbucks and Wendy’s that are accepting payments using the Razer Pay e-wallet. Hopefully Singapore will be just as good ah. I wouldn’t mind using the e-wallet in Singapore if it’s that convenient.
