Razer shuts down its e-wallet services in Malaysia and Singapore

According to its website, the last date for users to top up their wallet was on 6 August and users will still be able to use the wallet to purchase games, entertainment, food and mobile top-ups until 31 August. Users will have until 30 September to withdraw their funds via the in-app withdrawal function.

Razer previously partnered Berjaya Corporation to launch Razer Pay in Malaysia three years ago in 2018. It later launched the e-wallet service in Singapore in the following year for beta testing, where it collected users’ feedback to help optimise operations for a smooth public launch.

Subsequently, Razer launched its prepaid card offering Razer Card which encompasses facilities such as cashback features and a gamified in-app rewards system, following its partnership with Visa in 2019. 

Separately, the gaming company had previously attempted to bolster its position as a digital financial service provider. With the goal of being a ‘global youth bank’, Razer led a consortium to apply for a digital banking license in Singapore last year. However, it failed to win the bid, having been beaten out by the Grab-Singtel consortium and tech giant Sea.