Razer Fintech acquires Indonesian paytech E2Pay in a bid to expand
Razer Fintech, the fintech arm of gaming company Razer, announced the acquisition of E2Pay Global Utama, a paytech in Indonesia.
Founded in 2012, E2Pay provides payment solutions to merchants and financial institutions.
Razer Fintech says the takeover complements Razer Merchant Services, its business-to-business (B2B) arm, as it facilitates cross-border payments for its 60,000 merchants to Indonesia.
“E2Pay is one of Indonesia’s very few digital payment players that has a comprehensive set of licences across various payment gateway services, e-money, and remittance,” says Lee Li Meng, CEO of Razer Fintech.
“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.”
Established in 2018, Razer Fintech claims to be “one of the largest” offline to online digital payment networks in emerging markets. It says it has recorded a total payment volume of $7 billion for FY 2021, representing an increase of 63.5% year-on-year.
Last year, however, it shut down its payments arm, Razer Pay, following a two-year foray into the e-wallet/payments sector.