The two sides will collaborate to enable a «Buy-Now-Pay-Later» solution for merchants in Southeast Asia.
Razer Fintech, the financial technology arm of Singapore gaming and technology brand Razer, is expanding its fintech offerings and its payments ecosystem for customers with access to a buy-now-pay-later (BNPL) solution provided by Rely, it announced in a statement.
The service will be offered in Southeast Asia to merchants registered under Razer Merchant Services (RMS), its B2B (business-to-business) solution. RMS includes online payments and a card processing gateway, and the region’s largest offline payment network of over 1 million physical acceptance points.
«This collaboration is also aligned to our longstanding commitment to continue using our know-how in fintech to build new and innovative ways to meet the needs of a burgeoning and digital-savvy youth and millennial segment in Southeast Asia,» Lee Li Meng, CEO, Razer Fintech, said in the announcement.
More BNPL Transactions
The announcement noted the growing popularity of BNPL, citing a «Finder» survey from October 2020 that said almost 1.1 million Singaporeans have used a BNPL service.
Founded in 2017, Singapore-based Rely works with brands and enterprise clients such as Qoo10 Singapore, to offer deferred and installment payments for online and offline purchases.
Rely's strategic partnership with Razer follows the company's recent announcement to expand its services in Singapore, Malaysia and South Korea after securing capital from Goldbell Financial Services to process up to S$100 million in buy-now-pay-later transactions.
