In the announcement, Razer said that they were able to test-bed multiple products and features with the valuable feedback received from their users and partners since the launch of the Razer Pay beta back in 2018. It also thanked all of its users for participating in the beta and noted that it will continue to innovate more solutions in the future for its community. Razer added that it is committed to ensure all account withdrawals and closure processes are user-friendly and compliant with regulations. The gaming firm is advising all users to withdraw all of their eWallet balance via the Razer Pay app prior to the service’s termination. It also noted that balances will be transferred within 5 working days. At the same time, the company also noted that today (6 August) will be the last day that Razer Pay accepts new registrations, top-ups and peer-to-peer transfers. In addition, users can still redeem gift codes and make payments via the service’s Razer Card up until 31 August 2021. Other than emphasising on reaching the end of Razer Pay’s beta, the Singapore-based gaming firm did not disclose any further details regarding the service’s termination. One potential reason for Razer’s withdrawal from the cashless payment scene is likely due to the appearance of multiple eWallet services that have been made available in both Malaysia and Singapore – causing the company to struggle with various competitors.
And given that the service was in its beta phase, there’s also a chance that Razer Pay might be relaunched one day as a full release with updated features. However, this is merely a speculation, so do take it with a grain of salt. (Source: Razer [Website] [Facebook])
