Shah Alam, Malaysia – Razer Fintech, the financial technology arm of Razer, the global lifestyle brand for gamers, has announced the acquisition of PT E2Pay Global Utama (E2Pay), one of the B2B2C digital payment facilitators and e-money players in Indonesia. Razer Fintech is already a O2O (offline to online) digital payment network in Southeast Asia, and this acquisition marks its further expansion into Indonesia.
E2Pay, which was founded in 2012, offers merchants and financial institutions a variety of payment solutions, including payment gateway, e-money, and remittance service licenses in Indonesia. These services complement Razer Merchant Services, Razer Fintech’s business-to-business arm in the region, which helps its 60,000 merchants make cross-border payments to the region’s most populous country.
E2Pay’s payment gateway supports high-growth e-Commerce verticals, including online marketplaces, professional services, travel & tourism, as well as other segments throughout Indonesia, with some of E2Pay’s most notable merchants consisting of Tokopedia, Bukalapak, Traveloka and Blibli.com.
The Indonesian fintech player also connects major payment channels and supports local and alternative payment methods, including card schemes, internet banking, mobile banking, e-money, virtual accounts, offline points, and personal financing to provide a comprehensive local payment platform for more than 500 merchants in the region.
The E2Pay e-money platform, MBayar, serves over 500,000 registered users and supports payments for credit or data plans, bill payments, QR payments, cash withdrawals and fund transfer services.
Razer Fintech’s CEO, Lee Li Meng, said that E2Pay is one of Indonesia’s very few digital payment players that has a comprehensive set of licenses across various payment gateway services, e-money, and remittance.
“The acquisition of E2Pay allows us to accelerate our entry into Indonesia, one of the fastest-growing digital economies in Southeast Asia, as well as be able to better serve the digital payment needs of our regional and global merchants as the single partner of choice. I look forward to working closely with the E2Pay team to grow our presence in Indonesia considerably in the years to come,” Meng said.
E2Pay’s chairman, Rudy Danandjaja, commented, “E2Pay are very happy to have Razer Fintech onboard. We hope that the synergy between E2Pay and Razer Fintech will enable both organizations to tap on our merchant base to grow, expand and scale our platform’s reach across Southeast Asia.”
