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Shops which accept payments via Razer Pay will now be able to offer interest-free instalment plans to their customers.
Ride-hailing group Grab, gaming firm Razer, AirAsia, telecoms firm Axiata and lender CIMB are among companies looking to apply for digital banking licences in Malaysia.
Gaming company Razer Inc has teamed up with homegrown Singaporean entrepreneurs and Asian billionaires to apply for a full digital banking license, joining the race to create virtual lenders in the city state.
South-East Asia has seen its mobile payments landscape grow rapidly in recent years, driven by high mobile penetration rates.