Razer has invested close to $20 million[1] into Malaysia-based online payment firm MOL Global as part of a push to establish its virtual currency for gamers in Asia.
The deal sees Razer subsidiary ZV-Midas buy equity from existing backers MOL Investment and Hotel Resort Enterprise in a deal that values the MOL Global business at around the $100 million mark.
Gaming company Razer, which made its name selling high-end peripherals and gaming laptops, introduced its ‘zVault’ digital wallet and ‘zGold’ rewards program for its gamers back in March. The strategy seems like a long-term effort to keeps gamers’ money inside the Razer ecosystem, via its services and services of its partners, and bolster its e-commerce business through rewards and incentives.
This week’s investment deal itself represents a move to further its reach among gamers in Southeast Asia, a fast-growing internet market[2] where Razer predicts overall game spending will reach $2.2 billion in 2017.
MOL, which delisted from the Nasdaq last year[3] following a bumpy two-year spell as a public company, is strongest in Southeast Asia. In addition to its online payment service, it has an offline network through relationships with retailers like 7-Eleven — which shares the same parent — to enable people without credit (who represent the majority in many countries) to buy online points over the counter. The deal will see MOL’s MOLPoints rebranded to Gold-MOLPoints in an effort to tie it into Razer’s brand, with incentives given to MOL users who top-up their account.
Razer said that its network combined with that of MOL will allow users to buy its points at over a million online and retail stores across Southeast Asia, New Zealand and Australia.
Beyond Razer’s own network of games and...
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