Razer, a multinational technology company focused on home gaming, incorporates its Razer Pay e-wallet services and Razer card ends September 30, 2021.
All Razer e-wallet payments will be suspended after August 31, 2021. This means that all Razer Pay (beta) wallet reload, payment, and transfer features will no longer be available.
The same term also applies to the amortization of Razer card gift codes.
In addition, the Razer Pay app will also be inaccessible from October 1, 2021.
Less than two years have passed
Launched in Malaysia in July 2018 and in Singapore in March 2019, Razer’s short-lived electronic payments portfolio unfortunately did not get enough support from the masses.
The first statements by Razer CEO Tan Min-Liang said that Razer Pay was one of the largest electronic wallets in Malaysia it was not in line with his reception in Singapore.
Singapore’s bank-owned mobile portfolios also have a strong market share, leaving little or no room for new entrants.
Despite Razer’s strong fan base and multiple marketing efforts, including free masks from Razer Pay-enabled vending machines, Razer Pay struggles to gain significant strength here.
The tech giant’s prepaid Razer card didn’t fare well with its target millennial clientele, despite its efforts to launch attractive benefits.
The return privileges of their banking competitors were difficult to surpass. Its exclusive 10% cash back on purchases Razer Store (hardware) and Razer Gold (in-game transactions) was not enough to encourage a strong enough acquisition rate.
Other reasons mentioned for the suspension of the Razer card include customer complaints about errors and the incidence of double purchase charges, among other issues.
More recently, Razer failed to win the bid for digital banking license in Singapore. He had said in a statement to the media that if they were successful, they would take advantage of their brand and their global presence to build the “world’s first youth bank,” called Razer Youth Bank.
Along with this recent news, it appears that Razer’s mobile payment company has been delayed. For now, it’s time for Razer fans to fire up their premium cards in matte black and matte black gaming aesthetics.
Featured Image Credit: Razer