Razer Fintech and Google partner for offline payments
Kuala Lumpur-based Razer Fintech has announced that Google Play Store consumers can make offline-to-online (O2O) payments through its Razer Cash solution. The FinTech company’s solution enables Google Play Store customers to purchase in-app items and they can top up Google Play credits by paying cash at offline acceptance points.
The O2O solution addresses the requirements of users interested in purchasing digital goods but yet are unable to because of the lack of a credit/ debit card, or an internet-ready bank account. This solution will be first available at the 2,761 7-Eleven stores across Malaysia.
Limeng Lee, CEO, Razer Fintech enunciated, “Razer Fintech recognizes the needs of the underserved and underbanked population, and we want to bridge the gap between offline to online channels.”
“With Razer Cash, we can now open up a new channel for users to gain access to Google’s in-app products. This partnership underlines Razer Fintech’s commitment to work with a best-in class industry leader such as Google to create and deliver practical financial solutions for the general public especially in the emerging markets”.
The acceptance of the solution is said to represent the deepening partnership between both the parties.
“Regionally, in Thailand and Malaysia, Razer Fintech has already availed the Google Play Store gift cards at physical stores. There, users can purchase these Point-of-Sale-Activated (POSA) cards to top up their Google Play balance,” Eng Sheng Guan, Head of Razer Merchant Services adds. “Meanwhile, Razer Cash is already utilized by other leading partners in Malaysia such as Lazada, Shopee and Agoda.”
In April, Singapore FinTech Association (SFA) and the financial technology company partnered to address the key issues facing the FinTech industry in Singapore as a result of the Covid-19 pandemic, which includes business continuity concerns, high business costs, funding and employment.