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Deepti Sri · · 1 min readRazer to suspend e-wallet services by September 30
”Homegrown multinational gaming-centric tech company Razer’s foray into its e-wallet services Razer Pay and Razer Card is coming to an end on 30 September 2021,” stated a Vulcan Post report.
Details:
- The suspension of e-wallet payments by Razer includes all wallet top-up, payment, and transfer features on Razer Pay (beta).
- The gaming tech firm’s exclusive 10% cashback on Razer Store and Razer Gold purchases were reportedly not enough to incentivize its target millennial clientele.
Dive deeper:
- Razer turned profitable in 2020 after it hit a record high of US$1.2 billion in revenue in the fiscal year 2020, representing a 48% year-on-year growth that was driven by high hardware demands.
- The company is also on track for an entry into the crypto space, potentially joining a number of mainstream corporations jumping on the trend, such as Elon Musk’s Tesla, DBS Bank, and BNY Mellon.
Editing by Collin Furtado and Arpit Nayak
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