Razer and Visa partner to offer digital prepaid card in Southeast Asia

The partnership will help Visa to bring unbanked and underserved population into the financial system
San Francisco-headquartered Razer Inc. has announced that it has signed a partnership with VISA, the multinational financial services company, to develop and offer Visa prepaid solutions.
As per trusted sources, the proposed service will enable even unbanked users to top up and cash out easily. The prepaid solution will be embedded in Razer's mobile payments app, Razer pay. This will allow Razer's 60 million registered users to pay at any of the 54 million merchant locations around the world that accept Visa.
For the record, Razer is a global gaming hardware manufacturing giant and has built the biggest global gamer ecosystem of software and hardware. Today, Razer is considered as on one of the biggest brands in eSports. The products the company offers are gaming laptops, gaming tablets and Computer peripherals.
Li Meng Lee, Chief Strategy Officer, Razer, was reportedly quoted stating that virtual payment option is the natural step considering South East Asia's growing digital population. However, the partnership will not rule out the possibility of introducing a physical prepaid card in the future.
Apparently, Razer pay app handles transactions for several internet services such as Grab and Lazada and had reportedly made a huge offline push, with a network of over one million touchpoints including 7 eleven and Starbucks.
Chris Clark, Regional President for the Asia- Pacific, Visa had reportedly stated that the partnership will address how the company works to bring the unbanked and underserved population into the financial system. The companies will work on financial literacy and financial planning to educate the people across the region, he said.
According to industry experts, Razer's fintech ambitions have been evident ever since it acquired MOL, an online and offline payments company in Southeast Asia. Reportedly, the company also wants to extend their fintech operations by offering microfinance services like lending and insurance, in the near future.
Sources: https://techcrunch.com/2019/06/23/razer-visa-prepaid-card/

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