Razer Fintech acquires Indonesian digital payments company E2Pay
Michelle Zhu
RAZER Fintech has acquired E2Pay Global Utama, a business-to-business-to-consumer (B2B2C) digital payment facilitator and e-money player in Indonesia, for an undisclosed sum.
In a press statement on Thursday (Jun 9), the financial technology arm of Razer highlighted E2Pay’s services as regionally complementary to its business-to-business unit Razer Merchant Services, as the acquisition will help to facilitate cross-border payments for its 60,000 merchants in Indonesia.
E2Pay was founded in 2012 and provides payment solutions to merchants and financial institutions. These solutions include payment gateway, e-money and remittance services licences.
Indonesian e-commerce companies Tokopedia and Bukalapak as well as online travel startup Traveloka count among some of E2Pay’s most notable merchants.
The company’s 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.
“The acquisition of E2Pay allows us to accelerate our entry into Indonesia, one of the fastest-growing digital economies in South-east 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,” said Razer Fintech chief executive, Lee Li Meng.
Lee also underscored E2Pay as “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”.
The company said that through the acquisition, both Razer Fintech and E2Pay will contribute to Indonesia’s targeted gross merchandise volume of US$124 billion by 2025 at a 23 per cent compound annual growth rate – making it one of the largest growing digital economies in South-east Asia.
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