Electronics firm Razer has successfully acquired digital finance provider E2Pay through its fintech arm Razer Fintech.
This move marks the latest step of Razer’s footprint in Asia, with the acquisition being specifically crucial for the firm’s growth strategy for Indonesia.
That’s because E2Pay has already an established local presence, providing payment solutions for both merchants and financial institutions in the region.
With services such as e-money processing and payment gateways, E2Pay boasts a strategic correlation to Razer Fintech’s regional B2B offering – Razer Merchant Services – aiming to facilitate cross-border payments for merchants in the country.
CEO of Razer Fintech, Lee Li Meng, commented: “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.
“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.”
Besides supporting verticals for various local industries such as e-commerce and tourism, E2Pay’s payment platform also combines card schemes, mobile banking and personal financing into its suite.
Rudy Danandjaja, Chairman of E2Pay, said: “E2Pay are very happy to have Razer Fintech onboard. We hope that the synergy between E2Pay and Razer Fintech will enable both organisations to tap on our merchant base to grow, expand and scale our platform’s reach across Southeast Asia.”
A statement by Razer Fintech indicates that there is a huge potential for digital finances in Indonesia, with the country’s internet usage rates steadily growing. A Gross Merchandise Volume (GMV) of USD $40 billion was reached in 2020, fueled by the e-commerce, travel, transport and food delivery sectors.
The statement further reads that with E2Pay’s acquisition, Razer Fintech is looking to boost Indonesia’s GMV to USD $124 billion by 2025, turning it into one of the fastest growing digital economies in Southeast Asia.
“I look forward to working closely with the E2Pay team to grow our presence in Indonesia considerably in the years to come,” Li Meng concluded.