We all know and love Razer from their amazing line up of products, they recently made a huge announcement relating to COVID-19. By deploying US$50 million Razer will be able to support business partners old and new during these difficult times. They will use their unique ecosystem by leveraging on Razer Gold, Razer Fintech and zVentures. Check out the below infographic for further detail on how this will be done.
Not many people will know about these business pillars, take a look below for further information about each one:
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.
This 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 the 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.
This is their 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.
It is fantastic to see big brands helping out, let’s hope this is for the good and not for personal gain. Thanks for reading!
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