June 28, 2022

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Razer expands into Indonesia by buying digital fee platform E2Pay

Razer expands into Indonesia by buying digital fee platform E2Pay. Supply: AFPRazer Fintech’s acquisition of PT E2Pay World Utama expands the group’s digital fee options into Indonesia, one among SEA’s fastest-growing digital economies.E2Pay is one among Indonesia’s only a few digital fee gamers that has a complete set of licenses throughout numerous fee gateway providers, e-money, and remittance.The fintech arm of Singapore-based gaming-centric tech firm Razer Inc is increasing into Indonesia with its acquisition of B2B2C digital fee facilitators and e-money agency, PT E2Pay World Utama. Having already led the offline to on-line (O2O) digital fee community in Southeast Asia, this acquisition marks Razor’s enlargement into one of many area’s quickest rising digital economies on this planet.The last decade outdated Indonesian fintech participant E2Pay has providers that complement Razer Service provider Providers, Razer Fintech’s business-to-business arm regionally. E2Pay gives a breadth of fee options to retailers and monetary establishments, together with fee gateway, e-money, and remittance providers licenses in Indonesia. Razer then again facilitates cross-border funds for its 60,000 retailers to the area’s largest populated nation.Razer Fintech CEO Lee Li Meng additionally highlighted how E2Pay is one among Indonesia’s only a few digital fee gamers that has a complete set of licenses throughout numerous fee gateway providers, e-money, and remittance. “The acquisition of E2Pay permits us to speed up our entry into Indonesia, one of many fastest-growing digital economies in Southeast Asia, in addition to be capable of higher serve the digital fee wants of our regional and world retailers as the only companion of selection. I stay up for working intently with the E2Pay crew to develop our presence in Indonesia significantly within the years to come back,” he mentioned.Presently, the E2Pay e-money platform, MBayar, serves over 500,000 registered customers and helps funds for credit score or information plans, invoice funds, QR funds, money withdrawals and fund switch providers. As for its fee gateway, it helps high-growth e-commerce verticals, together with on-line marketplaces, skilled providers, journey & tourism, in addition to different segments all through Indonesia, with a few of E2Pay’s most notable retailers consisting of Tokopedia, Bukalapak, Traveloka and Blibli.com. Moreover, the Indonesian digital fee participant additionally connects main fee channels and helps native and different fee strategies, together with card schemes, web banking, cellular banking, e-money, digital accounts, offline factors, and private financing to offer a complete native fee platform for greater than 500 retailers within the area.Razer Fintech then again has grown to turn out to be one of many largest O2O digital fee networks in rising markets, and has processed over billions of {dollars} in complete fee worth. In the entire of 2021, Razer Fintech recorded a Whole Cost Quantity of US$7 billion, representing a rise of 63.5% year-on-year.Whereas Southeast Asia is thought to be a powerhouse in the case of cellular funds, Indonesia is usually touted to be the world’s subsequent digital funds battleground by pundits. Transaction values rose by over 200% in 2019 alone, and the nation is dwelling to nearly 50 digital pockets gamers vying for purchasers. Between 2019 and 2022 alone, cellular wallets are anticipated to expertise a soar in proportion proportion of Indonesia’s gross transaction worth (GTV) from 23% to twenty-eight%. 
Dashveenjit Kaur
| @DashveenjitKDashveen writes for Tech Wire Asia and TechHQ, offering research-based commentary on the thrilling world of know-how in enterprise. Beforehand, she reported on the bottom of Malaysia’s fast-paced political area and inventory market.

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