Today In Payments Around The World: Razer Fintech, Visa Unveil Prepaid Card; SafetyPay Collaborates With LATAM’s Rappi

In today’s top payments news around the world, Razer Fintech and Visa have unveiled the Razer Card prepaid card, while SafetyPay has joined forces with LATAM’s Rappi. Plus, the Abu Dhabi Investment Authority (ADIA) is investing roughly $750 million in Reliance Retail Ventures Ltd.

Razer Fintech, Visa Pitch New Prepaid Card to Young Adults in Singapore

Razer Fintech and Visa have introduced the new Razer Card prepaid card, which is now in its experimental phase. Cardholders will receive a host of benefits such as unlimited cashback for eCommerce and face-to-face purchases. In addition, the Razer Card will showcase contactless payment technology that enables cardholders to tap to pay.

Digital Payment Firm SafetyPay Teams With LATAM’s Rappi

SafetyPay has teamed with Rappi for cash solutions and immediate reconciliation. SafetyPay’s infrastructure allows those who don’t have credit cards and consumers who are concerned about fraud to take part in the digital marketplace via bank transfer or cash. Currently, SafetyPay collaborates with 380 financial institutions in 17 countries worldwide.

Abu Dhabi Investment Authority Invests $750M in Reliance Industries Subsidiary

The Abu Dhabi Investment Authority (ADIA) is investing approximately $750 million in Reliance Industries subsidiary Reliance Retail Ventures Ltd. The investment provides the sovereign wealth fund with a 1.2 percent share of Reliance Retail. Other investors that have acquired sizable shares of Reliance Retail in the last month include KKR, Silver Lake, Mubadala, General Atlantic, TPG and GIC.

MoneyGram Extends Relationship With Walmart

MoneyGram International has extended its relationship with Walmart Inc. through March 2024. As a result, MoneyGram’s offerings will continue to be available at over 4,700 Walmart locations in the United States, Puerto Rico and online at walmart.moneygram.com. MoneyGram Chairman and CEO Alex Holmes said in a statement that the “longer-term extension is a testament to our strong alignment on customer-centric strategies as well as continued preference for the MoneyGram brand at the point of sale.”