1/27/2024 0 Comments The link process failed ewallet goWhile Razer Pay clinched partnerships with some big brands like 7-Eleven, Tealive, Starbucks, 99 Speedmart, Secret Recipe, etc., other e-wallets didn’t miss out on partnerships with them either. Other e-wallets offered better deals from the same merchants This meant that, with so many other more versatile e-wallets to pick from, there was little incentive to download and use Razer Pay just for these deals. Its promotions and cashback deals were instead geared towards bill payments, gaming equipment, and mainly for convenience stores like 7-Eleven. Yet, it wasn’t quite the focus of Razer Pay. It’s reasonable to assume that it was a dominant category from the start. Offered promotions in less popular usage categoriesĪs of Q3 2020, the most popular usage of e-wallets among Malaysians is for F&B, which stands at a 24% majority among other categories of usage like groceries, convenience stores, food delivery, bill payment, etc. GrabPay, Boost, and Touch ‘n Go eWallet all launched sometime from 2017-2018, around the same time as Razer Pay’s launch, but evidently, the latter fell behind due to the disparity between its developments and that of the others. Unfortunately, the decision to remove itself from the competition came before that plan came to fruition. When it first launched, it had shared plans of wanting to include more partners from the healthcare and travel sectors in its list of merchants. Razer Pay had ambitions to deliver similar experiences, of course. With the big 3, you’re able to find additional features like investments, insurance deals, home services, travel deals, parking payments, and more. There, it faced strong competitors like Boost, GrabPay, and Touch ‘n Go eWallet, to name a few.īut compared to them, it lacked features that helped it stand out in the category. An e-wallet in the lifestyle category that didn’t fulfil enough needsįor starters, there are many types of e-wallets in Malaysia, and Razer Pay falls under the lifestyle e-wallet category, which is probably the largest category. We took a look at 5 possible factors behind why it pulled the plug on its stay here. Razer Pay has had a 3-year beta run in Malaysia since its launch in July 2018 with the branding of being the “e-wallet for youth and millennials”.īut as we now know, it didn’t quite take off with its target group of Malaysians, especially with the red sea of e-wallet competitors it went up against here. Razer Pay e-wallet and Razer Card have been discontinued in both Malaysia and Singapore, and these services will come to a halt after September 30, 2021.Īll Razer Pay e-wallet functions will also be suspended after August 31, 2021, so users can no longer top-up, pay or transfer, and the app will be inaccessible from October 1, 2021.
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