Razer Fintech acquires Indonesian payment technology E2Pay in a bid to expand
Razer Fintech, the fintech arm of gaming company Razer, has announced the acquisition of E2Pay Global Utama, a payment technology company 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 the few Indonesian digital payment players that has a comprehensive set of licenses covering various payment gateway, e-money and remittance services,” said Lee Li Meng, CEO of Razer Fintech.
“The acquisition of E2Pay enables us to accelerate our entry into Indonesia, one of the fastest growing digital economies in Southeast Asia, as well as better serve the digital payment needs of our regional merchants. and worldwide as a unique partner of choice.”
Founded in 2018, Razer Fintech claims to be “one of the largest” offline-to-online digital payment networks in emerging markets. It says it recorded a total payment volume of $7 billion for fiscal 2021, representing a 63.5% year-over-year increase.
Last year, however, it shut down its payments arm, Razer Pay, after a two-year foray into the e-wallet/payments business.