The Singtel Group and Razer have inked a deal to foster strategic collaboration in the high-growth areas of e-payments, esports, gaming-related digital media and telecommunication services across Southeast Asia. Â This comes at a point where mobile payments in Southeast Asia is expected to be worth around US$32 billion by 2021, a tenfold increase from 2013 as smartphone penetration increases, said a 2017 report by Eurominitor International.
The Singtel Group and Razer will as such leverage each otherâ€™s strengths and capabilities to engage the regionâ€™s consumers and audiences and grow the vibrant esports ecosystem. Both companies plan to jointly organise activities such as regional invitational events and cultivate Southeast Asian esports talents. Â Â The two will also explore the development of gaming-related telecommunications and digital media products and services such as broadband plans, mobile services and esports content for customers.
The Singtel Group and Razer started collaborating on exclusive gaming initiatives in 2017. In fact, Singtel was the first telco to launch the Razer Phone in Asia in December 2017. Razer is also supporting Singtelâ€™s community gaming events across Singapore.
Arthur Lang, CEO of Singtelâ€™s International Group, said, â€śAs 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.â€ť
He added that the collaboration with Razer is aimed at advancing a goal to empower customers to spend seamlessly across borders and experience the thrill of esports.
â€ś We look forward to working with gaming partners and supporting community initiatives to grow esports in the region,â€ť Lang said. Â The Singtel Group, which includes wholly-owned subsidiary Optus and regional associates Airtel, AIS, Globe and Telkomsel, has a combined reach of over 680 million mobile customers across the region.
â€śWe are incredibly excited about the many opportunities Razer and Singtel can tap together to benefit millions of gamers and consumers in Southeast Asia,â€ť said Mr Min-Liang Tan, co-founder and CEO of Razer. â€śThis is our opportunity to lead and accelerate the growth of esports and e-payments in a unified push across the region.â€ť
Another area of primary concern to Razer is e-payments. Last month, Razer announced its intention to acquire MOL Global, which operates one of the largest e-payment networks in Southeast Asia. The latterâ€™s online payment gateway is used by major companies such as Lazada, Grab and UNIQLO, and offers more than 1 million offline payment points across the region. MOL Global handled over US$1.1 billion of digital payments in 2017.
Through the partnership, the Singtel Group and Razer plan to enable the interoperability of their respective e-payments systems to create a seamlessly integrated regional network. Â In March, the Singtel Group announced plans to connect the mobile wallets of Singtel and its associates through an interoperable platform, which will link over 50 million registered wallet users with more than 1 million merchant points across Asia. This interoperable platform can also connect with other third-party payment apps offered by telco and non-telco companies, providing ready access to the Groupâ€™s customer and merchant bases.
Mobile wallet users of Singtel and its regional associates will be able to seamlessly access Razerâ€™s e-payment merchant network of over a million payment points, the zGold virtual credit system, and Razerâ€™s full suite of gamer-related digital services, which has more than 40 million registered users. Â At the same time, Razer will deepen its penetration in Southeast Asian countries by adding Singtel Groupâ€™s more than a million merchant points across Asia to its network, as well as gain access to the Groupâ€™s more than 680 million mobile customers. According to the two, the interoperability of both networks will create one of the largest connected e-payment networks in Southeast Asia.