Razer Pay Is Shutting Down On 30 September

Alex Cheong Pui Yin

6 Aug - 3 min read

Razer has announced that it is shutting down its Razer Pay e-wallet come 30 September 2021, although it did not mention any specific reasons for this decision. The termination applies to its services in both Malaysia and Singapore.

In announcing the closure, the service provider thanked its users for supporting Razer Pay, which had apparently been a beta project since it was launched. “Since the launch of the beta, we have been able to test-bed multiple innovative products and features with the valuable feedback provided by our users and partners,” it said.

Following this announcement, Razer Pay users can choose to either finish up their remaining e-wallet credit via payments by 31 August 2021 or withdraw the credit balance and close their accounts. Additionally, the top-up and peer-to-peer transfer functions will cease to work after today (6 August 2021).

“With the end of the beta, we are committed to ensure that all account withdrawal and closure processes are user-friendly and compliant with regulations. We look forward to innovating more solutions in the future for our community,” Razer said in its notice.

For Malaysian users who wish to withdraw their credit balance, tap on the “Withdraw” tab in the app, followed by “Cash Out”. You’ll then be prompted to carry out some additional steps to complete the withdrawal. Once done, the balance will be transferred to your preferred bank account within five business days.

Do note, though, that the above steps must be done before 30 September 2021. If you happen to miss the deadline and would like to cash out your funds after 30 September, you can reach out to Razer Pay’s customer support via an online form instead. But with almost two whole months of lead time, it’s best to do so before the end of the closing date.

Meanwhile, individuals who were able to sign up for the distinctive Razer Card (both standard and premium version) at the end of last year can continue using it for payments until 31 August 2021. Those with any remaining Razer Card gift codes will also have until 31 August to claim them. (The Razer Card was only released to Singapore Razer Pay users.)

Razer’s fintech venture in Malaysia began with the Razer Pay e-wallet in 2018, with minimal features such as QR-based payments as well as digital payments for a range of merchants. From there, it grew its user base by collaborating with brands such as 7-Eleven, Kenny Rogers, and U Mobile to provide rewards and incentives. Additionally, it rolled out various upgrades, including in-app coupons and an online shopping feature.

To find out more about the termination of the Razer Pay e-wallet, head on over to its official website. You can also check out its detailed FAQ here.

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Alex Cheong Pui Yin

Previously covered recruitment-related stories and had a short stint as a copywriter for the property industry. She subsequently developed an interest in investment and robo-advisors.

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