The scheme will allow users to top up through eNets and to transfer funds via FAST.
UOB and Razer will launch Razer Pay Singapore as an e-wallet for youth and millennials in the next few months, an announcement revealed. The scheme will enable users 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, allowing them to pay online and at point-of-sale terminals.
The partnership will tap on the use of PayNow Corporate to allow digital payments for both merchants and e-wallet users through using their business’ unique entity number or the user’s mobile phone number, respectively.
UOB will also aid Razer’s cross-border foreign exchange (FX) transactions through the bank’s digital FX solution that will let Razer access wholesale FX rates when making payments to its global network of merchants.
“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,” UOB managing director and head of group transaction banking So Lay Hua said.
Razer Pay initially launched in Malaysia on 4 July 2018 where it has received more than 500,000 sign-ups in less than a week.
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