Razer ™, the world's leading lifestyle brand for gamers, today announced its commitment to support current and future business partners during the current economic downturn caused by Coronavirus 2019 (COVID-19).
Razer will field up to $ 50 million ($) in 2020 across 3 support arms within the Razer ecosystem: Razer Gold, Razer Fintech, and zVentures. This fund will be split between these 3 pillars in the form of financial contributions, cash flow support and investments. This initiative will also provide businesses with unique access to Razer's ecosystem of hardware, software and services, with over 80 million registered users worldwide, creating a positive business impact through alliances and partnerships.
"There are many growing implications of Covid19's impact on the global economy, being something that affects everyone," said Razer co-founder and CEO Min-Liang Tan. "We see that the best way to support us is to help our business partners from our ecosystem."
Support based on 3 company pillars
Razer Gold
One of the largest virtual currencies to be used in payments for digital content, including video games and entertainment, with over 3,4 million outlets in more than 130 countries around the world. Razer Gold will support current and new content partners through marketing contributions and other immediate cash flow relief measures such as cash upfront, current discounts, 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
Razer Fintech is one of the largest physical digital payment networks in Southeast Asia, processing billions of dollars in payments since its inception in 2018. Razer Fintech will use its two vertical businesses for this initiative.
Razer Fintech's B2B vertical, Razer Merchant Services (RMS) will assist new and existing merchants and platform partners through cash flow assistance, commission waivers, and specialized marketing programs for essential business and online services. Razer Fintech's B2C vertical, Razer Pay, will offer special packages such as reduced rates and value-added promotions. Additionally, Razer Fintech will selectively leverage potential startup and enterprise investment opportunities.
Razer Fintech's goals are closely aligned with the Covid19 Fintech initiatives announced by the Singapore Fintech Association (SFA) and the Monetary Authority of Singapore on April 8, 2020. Razer Fintech and FSA will work together to address the key issues identified, which are 1) Protect employment in the Fintech sector 2) Reduce commercial costs 3) Facilitate sales and 4) Stimulate the financing and identification of the Fintech companies that will benefit from this program.
zVentures
zVentures is Razer's business arm and an integral component of Razer's strategic investment businesses. zVentures will focus its investment efforts on companies with technology dedicated to fighting Covid19 or supporting people during the pandemic. This includes companies in industries such as food and beverage, freelance, delivery and beverage, and healthcare.
Through the actions taken by the company, Razer ensures that business partners can maintain and consolidate a strong market position despite the Covi19 outbreak. Those interested who want more information can contact the email covid19-support@razer.com
