United Overseas Bank set to launch Razer Pay in Singapore
United Overseas Bank Limited and Razer Inc. are working together for the Singapore launch of Razer Pay, an e-wallet designed for youth and millennials, according to a press release.
The companies plan to launch Razer Pay in Singapore in the next couple of months.
Razer Pay first went live in Malaysia on July 4. In less than a week, Razer Pay Malaysia received more than 500,000 sign-ups, making it one of the fastest-growing e-wallet apps in the country, according to the release.
As part of an exclusive partnership with Razer, United Overseas Bank will provide an holistic suite of payment and cash management solutions such as enabling Razer Pay Singapore users to top up their e-wallet, as well as processing payments for Razer Pay's global network of merchants.
Razer Pay Singapore users will be able to top up their e-wallet using eNETs debit or credit service, or by transferring funds via FAST (Fast and Secure Transfers) directly to Razer. This will enable Razer Pay Singapore users to enjoy a smoother customer experience online and at point-of-sale terminals. No other e-wallet app in Singapore supports FAST for the facilitation of funds transfer, cash out or top-up currently, according to the release.
UOB and Razer will also explore the use of PayNow Corporate1 to enable digital payments to both merchants and e-wallet users with just the business' Unique Entity Number or the user's mobile phone number respectively.
Topics: Mobile/Digital Wallet