Razer eyes Indonesia expansion with digital payment acquisition
The game maker's fintech unit is acquiring e2pay global Utama to drive its growth plans in Indonesia, where the latter offers a range of digital payment services including an e-money platform with 500,000 registered users.
Razer fintech has acquired digital payments service provider e2pay global Utama in an attempt to push its expansion plans in Indonesia.
Razer fintech said on Thursday the acquisition would accelerate its entry into a market that has been one of Southeast Asia's fastest-growing digital economies. Financial details behind the deal were not provided.
E2pay provided a range of payment services that Razer said would complement the cross-border payment services it provided to its network of 60,000 merchants in the region.
E2pay's services for merchants and financial institutions in Indonesia include electronic money, remittance services, and payment gateway that support e-commerce sectors that include online markets, professional services, and travel.
Founded in 2012, fintech also facilitates various payment channels including card schemes, internet, mobile banking, virtual accounts, offline points, and personal finance. It serves a network of 500 merchants including Fotopedia, pocalabac, travel ca and Blibli.com
Mubayar's e2pay e-money platform has more than 500,000 registered users, processing bill payments, Qar payments, and cash withdrawals, among other services.
Li Meng, CEO of Razer fintech, said: "e2pay is one of the very few digital payment companies in Indonesia that has a comprehensive range of licenses across various payment gateway services, e-money, and transfers. The acquisition of e2p allows us to accelerate our entry into Indonesia...as well as being able to better serve the digital payment needs of our regional and global merchants as one partner of choice."
Razer fintech processed the total payment volume of 77 billion in the fiscal year 2021, up 63.5% from the previous year.
Singapore-based Razer fintech failed in its bid for a digital banking license in Singapore, but said its plans to expand into digital banking remained "unchanged".
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