Tag: Razer Fintech

Malaysia – Razer Inc.’s fintech arm, Razer Fintech, and its B2B payments unit, Razer Merchant Services (RMS), announced it has rebranded as Fiuu as the company aims to power future payments of merchants worldwide. 

The company’s dynamic rebranding includes a new single name, logo, and identity as Fiuu. This new identity underscores the brand’s commitment to their goal of providing innovative payment solutions to merchants worldwide.

Fiuu introduces a vibrant identity that reflects a playful and youthful spirit, symbolising agility and the brand’s dedication to growth. This cohesive brand image symbolises the company’s growth and preparedness to tackle future challenges and opportunities.

Additionally, Fiuu’s brand motto, ‘Powering Future Payments’, also encapsulates the company’s aim of providing cutting-edge solutions and reflects the dedication to fostering trust and reliability in every transaction. 

Fiuu will operate as a standalone subsidiary of Razer Inc. moving forward, with the aim of empowering both businesses and individuals with their evolving payment needs. 

With a user-centric approach and a focus on advanced, cutting-edge technology, the brand remains dedicated to delivering a seamless and intuitive payment experience that elevates the way transactions are conducted. Fiuu will also work to ensure that their offerings stay at the forefront of the digital payment landscape, staying true to their commitment to innovation and security. 

As part of the rebranding, the company will also have leadership changes. Eng Sheng Guan becomes the new chief executive officer, taking over from Lee Li Meng, who will now become the executive chairman of Fiuu. 

Under Lee’s guidance, Fiuu has undergone remarkable expansion, witnessing a doubling of revenues over the last four years and achieving profitability in its operations.

Now taking over Lee, Eng brings with him an extensive experience of more than 25 years in the payments industry and leadership. His vision and dedication align with Fiuu’s commitment to delivering top-notch solutions and services, heralding a new chapter of growth and innovation for the company. 

Speaking on the rebranding, Lee said, “Our rebrand goes beyond just a name change; it embodies our vision to power future payments. We strive to create seamless and empowering payment experiences that propel commerce into a new era. With Southeast Asia’s digital economy booming and projected revenue set to hit US$295 billion by 2025, our commitment to innovative payment solutions gains even greater significance.” 

Meanwhile, on the appointment, he added, “This rebranding exercise marks a significant milestone for the company, which has grown significantly over the past few years, and it allows the fintech business to continue its path independently from the Razer brand, which is gaming-focused. I am proud of the achievements of the team, and I trust Sheng Guan will be able to take the company to greater heights with the continued support of our merchants and scheme partners.”

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.”

Shah Alam, Malaysia — Razer Merchant Services (RMS), the B2B arm of Razer Fintech, has joined hands with Discover Global Network, the payment brand of Discover Financial Services, as the first acquirer to enable Discover Global Network card acceptance at online merchants in Malaysia.

Through this partnership, RMS is setting the stones for its future goal of enabling 2000 e-commerce merchants in Malaysia to accept Diners Club International, Discover, and other affiliate network cards for online transactions by next year -2023.

RMS is taking calculated steps to ensure a potential lead in the future, as according to a report; e-commerce payments in Malaysia is estimated to increase at a Compound Annual Growth Rate of 18.3% from RM28.5b, or $7.1b in 2021, to RM55.7b, or $13.8b in 2025.

By enabling the card scheme, local merchants would access a significant global customer segment with a diversified payment acceptance as the e-commerce industry continues to experience increased growth.

This collaboration offers a strategic advantage for RMS merchants to tap into the billion-dollar market with Discover Global Network and reach more than 280 million cardholders worldwide.

Lee Li Meng, CEO of Razer Fintech, said, “This partnership cements RMS’ continued leadership in enabling a plethora of comprehensive payment channels for our online merchants, thus, providing diverse payment options for their customers.”

Meng added, “RMS merchants can further expand their business reach by casting a wider net in the regional and global market as we look to replicate our offerings with Diners Club International and Discover across Southeast Asia.”

Meanwhile, Jonathon Gould, regional managing director for global acceptance of Discover APAC, shared, “This partnership between Razer Merchant Services and Discover is pivotal in expanding the Malaysian e-commerce market to our global partners. We are committed to continuously providing great benefits and convenience to our cardholders around the world by offering options to make online payments more seamless across borders.”