Razer Merchant Services (RMS), the B2B arm of Razer Fintech, has partnered with mobile wallet ShopeePay. The partnership will enable ShopeePay as an accepted payment option for all Burger King and 99 Speedmart branches in Malaysia, in a bid to expand cashless offerings to consumers nationwide. Along with RMS’ network of over 50,000 merchants, the collaboration aims to expand ShopeePay’s offering to drive foot-traffic into merchant’s physical stores.
“The preferred payment options in Malaysia are shifting as mobile wallets adoption rates are increasing, while cash payments are declining,” said Lee Li Meng, CEO of Razer Fintech.
“We are positive that our partnership with ShopeePay can be a game-changing initiative to boost contactless transactions offline, especially among their e-commerce users. RMS’ powering of ShopeePay in all Burger King and 99 Speedmart outlets is just the beginning. We will work with ShopeePay to continuously enable them on RMS’ network of offline and online merchants,” he added.
The cashless payment solutions partnership aims to give Shopee’s large base of customers ease of use and accessibility at retail outlets. Burger King and 99 Speedmart, the first retail businesses in RMS’ network that have adopted this payment option have more than 2,000 outlets nationwide combined. The advantage of having multiple touchpoints with customers will drive higher sales and benefit offline retailers over their competitors. As ShopeePay is integrated in e-commerce platform, Shopee, it already serves tech-savvy, online-first customers.
“ShopeePay has a strong online presence and we are working closely with Razer Merchant Services as part of our focus to scale our offline presence aggressively nationwide this year,” said Alain Yee, Head of ShopeePay Malaysia.
“As such, this partnership with household names like 99 Speedmart and Burger King is a step in the right direction. Being able to engage with digital natives easily and establish the right partnerships as well as our cashback programmes, we are confident that ShopeePay is poised to capture the Malaysian market.”
To celebrate this partnership, Shopee is running exclusive campaigns with both 99 Speedmart and Burger King. Users will be entitled to a one-time RM4 cashback when they spend a minimum of RM20 at 99 Speedmart from now till 31 July 2021, as well as a one-time RM4 cashback when they spend a minimum of RM20 at Burger King from 1 July 2021 till 31 August 2021.
Razer Merchant Services serves as a leading online-to-offline (O2O) digital payment network, expanding additional O2O offerings to its merchants with features such as Razer Cash and the Virtual Terminal Application. The Razer Cash feature enables RMS’ merchants to offer consumers without bank cards or accounts to pay for e-commerce goods by paying with cash at selected convenient stores. This feature looks to benefit students, teens, foreign workers, and elders.