Singtel, Razer to create SEA’s largest e-payments network
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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.”
Questions & Answers
Q.What is the primary goal of the partnership between Singtel and Razer?
What is the primary goal of the partnership between Singtel and Razer?
The companies aim to create the largest e-payments network in Southeast Asia. This will be achieved by enabling interoperability between their existing e-payments systems, forming an integrated regional network.
Q.Which specific areas will Singtel and Razer be collaborating on?
Which specific areas will Singtel and Razer be collaborating on?
They will collaborate on e-payments, eSports, and gaming-related digital media and telecoms services. This includes developing the eSports ecosystem and exploring new products like broadband plans and mobile services.
Q.How will the partnership impact the e-payments market in the region?
How will the partnership impact the e-payments market in the region?
The partnership aims to capitalise on the predicted $32 billion mobile payments market in Southeast Asia by 2021. Singtel plans to interconnect 50 million wallet users, and Razer acquired MOL Global, which handled $1.1 billion in digital payments in 2017.
Q.What is the rationale behind Singtel's involvement in this collaboration?
What is the rationale behind Singtel's involvement in this collaboration?
Singtel aims to create an ecosystem of digital services for its customers, including mobile payments and entertainment. This collaboration with Razer aligns with their vision for e-payments and eSports, especially for millennials.
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