Razer’s fintech arm acquires Indonesian payments platform

Razer Fintech, the fintech unit of gaming titan Razer, announced it has acquired PT E2Pay Global Utama, an Indonesian B2B2C (business-to-business-to-consumer) digital payment platform, for an undisclosed amount.

Photo credit: E2Pay

E2Pay was founded in 2012 and offers payment solutions like payment gateway services, e-money offerings, and remittance services licenses.

It currently has 500,000 registered users and has big names like Tokopedia, Bukalapak, Traveloka, and Blibli.com among its 500 merchant partners in the region.

Razer Fintech said the acquisition will complement its business-to-business unit, Razer Merchant Services, by providing cross-border payments to the unit’s 60,000 merchants in Indonesia.

“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,” Razer Fintech CEO Lee Li Meng said in a statement.

Meanwhile, E2Pay Chairman Rudy Danandjaja hopes that “the synergy between E2Pay and Razer Fintech will enable both organizations to tap our merchant base to grow, expand, and scale our platform’s reach across Southeast Asia.”

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The internet economy in Indonesia generated a total gross merchandise value of US$40 billion in 2020 and is projected to rise to US$124 billion by 2025, at a 23% compound annual growth rate. Razer hopes the deal will help it tap into this enormous digital market.