United Overseas Bank (UOB) has partnered with gaming hardware manufacturer Razer to assist the launch of e-wallet Razer Pay Singapore.
The new e-wallet, targeted at youth and millennials, is expected to be launched in the next few months.
Under the partnership, UOB will offer several payment and cash management solutions to enable Razer Pay Singapore customers recharge their wallets and process payments for Razer Pay merchants.
To recharge the e-wallet, users can also use the eNETS debit or credit service or transfer funds through FAST (Fast and Secure Transfers).
Additionally, UOB will also facilitate Razer’s cross-border foreign exchange (FX) transactions through its digital FX solution. The solution will enable Razer to access wholesale FX rates while making cross-border payments to its merchants.
UOB managing director and head of group transaction banking and group wholesale banking So Lay Hua said: “Working with an innovative trailblazer brand, such as Razer, at the start of their journey to launch an e-payment solution, aligns with UOB’s commitment to champion a robust digital payments landscape in Singapore.
“More broadly, with the Bank’s regional connectivity across ASEAN and scalable payment platforms we look forward to the next step of the journey – supporting Razer Pay beyond local shores.”
Razer Pay SVP Preecha Praipattarakul added: “Razer Pay Singapore is the e-wallet designed for youth and millennials, making it easy for users to transfer money quickly, to top up easily and to pay everywhere.
“UOB brings best-in-class payment solutions to help make the experience faster and more seamless for all our customers. We are confident that this partnership will accelerate the use of cashless payments in Singapore and across the region.”
Earlier this month, Razer Pay launched in Malaysia and was said to have received over 300,000 sign-ups within 48 hours of its launch.