Razer Fintech to buy Indonesian fintech solution

Razer Fintech, the gaming company’s fintech subsidiary, has purchased PT E2Pay Global Utama, an Indonesian payments firm.

According to a press release issued Thursday, the acquisition would expand Razer Fintech’s Southeast Asian offline-to-online (O2O) digital payment network by incorporating E2Pay’s digital payment and e-money services.

Razer Fintech had previously been denied digital banking licences in both Singapore and Malaysia.

Razer Fintech announced in December 2020 that it would continue to pursue its digital banking ambitions in the Philippines, as well as other regions like Europe, the Middle East, and Latin America, after losing out on the Singapore licencing contest.

E2Pay’s services will complement Razer Merchant Services, the fintech’s regional business-to-business arm, which processes cross-border payments for some 60,000 merchants in Indonesia, according to Razer Fintech.