Singtel, Razer to create SEA's largest e-payments network

03 May 2018
00:00
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Daily News

Singtel Group and gaming hardware manufacturer Razer have entered an agreement to collaborate in the areas of e-payments, eSports and gaming related digital media and telecoms services in the Southeast Asian region.

The two companies will seek to capitalize on the growth of the mobile payments market in Southeast Asia, which is predicted to be worth around $32 billion by 2021.

As part of the partnership, the companies aim to create the largest e-payments network in Southeast Asia by enabling the interoperability of their respective e-payments systems to create an integrated regional network.

Singtel Group has already announced plans to interconnect the mobile wallets of Singtel and its network of regional mobile associates into an interoperable platform linking over 50 million wallet users.

Razer meanwhile recently announced plans to acquire MOL Global, the operator of one of the largest e-payment networks in the region, for $61 million. MOL Global handled over $1.1 billion of digital payments in 2017.

The two companies also plan to leverage Singtel's regional footprint to develop the Southeast Asian eSports ecosystem and community. The companies will hold joint activities including regional invitational events and seek to cultivate eSports talent.

Finally, the two companies will explore the development of gaming-related telecommunications and digital media products and services such as broadband plans, mobile services and eSports content for customers in the region.

As a Group devoted to connectivity, we are making a big push to create an ecosystem of digital services for our customers. Digital services from mobile payments to entertainment have become a big part of their lives, especially the millennials,” Singtel International CEO Arthur Lang said.

“Our collaboration with Razer, which shares our vision on e-payments and eSports, will help advance our goal to empower customers to spend seamlessly across borders and experience the thrill of eSports. We look forward to working with gaming partners and supporting community initiatives to grow eSports in the region.”

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