Razer Commits US$50 Million To Support Business Partners During The Fight Against COVID-19
SINGAPORE (April 10th, 2020, at 5am SGT) – Razer™, the leading global lifestyle brand for gamers, today pledges to support business partners, both current and future, through the economic downturn brought about by the Coronavirus Disease 2019 (COVID-19). With Razer’s unique ecosystem, the company will leverage on Razer Gold, Razer Fintech and zVentures to empower business partners and help them tide over the negative impacts brought about by COVID-19.
Razer will deploy up to US$50 million within 2020 through three main support arms within the ecosystem – Razer Gold, Razer Fintech and zVentures. The fund will be split across these three pillars in the form of financial contributions, cashflow support and investments. This initiative will also provide businesses with access to Razer’s unique ecosystem of hardware, software and services with over 80 million total registered users worldwide, and create positive business impact through alliances and partnerships.
“There are many growing implications with COVID-19 on the global economy and it is affecting everyone from all walks of life,” says Razer Co-Founder and CEO Min-Liang Tan. “We see the best way for us to do our part is to support our business partners starting with our ecosystem.”
Support will be provided through three business pillars
As one of the largest virtual currencies for all digital content including games and entertainment with over 3.4 million channel touchpoints in 130 countries worldwide, Razer Gold will provide support to current and new content partners through marketing contributions and other immediate cashflow relief measures such as cash pre-payment, cash rebates, special rates and reduced settlement periods from 30 to 15 days. Razer will also explore potential investment opportunities in channel and content partners.
Razer Fintech is one of the largest offline-to-online digital payment networks in Southeast Asia and has processed billions of dollars in total payment value since its establishment in 2018. Razer Fintech will utilize both its business verticals for this initiative.
Razer Fintech’s B2B vertical, Razer Merchant Services (RMS) will help new and existing merchants and platform partners via cashflow assistance, fee waivers and customized marketing programs for essential services and online businesses. Razer Fintech’s B2C vertical, Razer Pay will offer special packages such as reduced rates and value-added promotions. In addition, Razer Fintech will selectively explore potential investment opportunities with startups and businesses.
Razer Fintech’s objectives are closely aligned with the Covid-19 Fintech initiatives announced by Singapore FinTech Association (SFA) and the Monetary Authority of Singapore on April 8, 2020. Razer Fintech and SFA will be collaborating to address the key issues identified, which are 1) Saving Fintech jobs 2) Lowering Business Costs 3) Facilitating Sales and 4) Stimulating Funding and identifying Fintech companies that would benefit from this program.
zVentures is Razer’s corporate ventures arm and an integral component of Razer’s strategic investment activities. zVentures will focus its investment efforts on companies with technologies dedicated to fighting COVID-19 or supporting people through the pandemic. This includes companies in sectors such as autonomous food and beverage, delivery and logistics, and healthcare.
Through the measures undertaken by the company, Razer will ensure that business partners are able to sustain and maintain strong market position through the COVID-19 outbreak. Interested parties seeking more information can reach out to email@example.com.
Razer™ is the world’s leading lifestyle brand for gamers.
The triple-headed snake trademark of Razer is one of the most recognized logos in the global gaming and esports communities. With a fan base that spans every continent, the company has designed and built the world’s largest gamer-focused ecosystem of hardware, software and services.
Razer’s award-winning hardware includes high-performance gaming peripherals and Blade gaming laptops.
Razer’s software platform, with over 80 million users, includes Razer Synapse (an Internet of Things platform), Razer Chroma (a proprietary RGB lighting technology system), and Razer Cortex (a game optimizer and launcher).
In services, Razer Gold is one of the world’s largest virtual credit services for gamers, and Razer Fintech is one of the largest offline-to-online digital payment networks in SE Asia.
Founded in 2005 and dual-headquartered in Irvine and Singapore, Razer has 16 offices worldwide and is recognized as the leading brand for gamers in the USA, Europe and China. Razer is listed on the Hong Kong Stock Exchange (Stock Code: 1337).
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