PayTech Merger Forms e-Payments Superapp

PayTech Giants Merge to Launch ASEAN’s First Pan-Regional e-Payments Superapp

US-$1.1 billion combination of Super Apps Holdings and MobilityOne unites 32 million monthly active users under single QR-code platform, eyes Nasdaq listing in Q1 2026

Kuala Lumpur, Malaysia – 19 November 2025

Super Apps Holdings Sdn Bhd and MobilityOne Ltd. today announced the completion of their definitive merger, creating Southeast Asia’s largest home-grown PayTech group and the first pan-regional “superapp” purpose-built for cashless commerce, cross-border remittances and embedded finance.

The all-share transaction, valued at US-$1.1 billion on a pro-forma enterprise basis, folds MobilityOne’s regulated e-money, remittance and merchant-acquiring network into Super Apps’ multi-service mobile ecosystem that already counts ride-hailing, food delivery, bill payments and micro-investments among its 4.3 million daily active mini-programs .

“We are not stacking apps—we are collapsing the entire payments value chain into one interoperable layer that works from Kuala Lumpur to Manila,” said Loo See Yuen, incoming Group Chief Executive.

The combined company, to be renamed TETE Technologies Inc, will apply for a Nasdaq listing under ticker “TETE” in the first quarter of 2026, subject to SEC clearance.

According to the latest EY PayTech 2025 outlook, digital-wallet penetration in ASEAN lags at 33 % of consumer spend, leaving a US-$2.6 trillion addressable market up for grabs . The merged platform plans to capture share by offering zero-fee domestic QR payments, real-time foreign-exchange conversion at inter-bank rates and AI-driven credit scoring that unlocks instalment plans in under 90 seconds.

“Scale matters, but unit economics matter more,” Loo added. “By owning both the consumer interface and the acquiring infrastructure, we cut merchant discount rates by 40 basis points and still improve our take-rate.”

Regulatory clearance was secured simultaneously from Bank Negara Malaysia, the Bangko Sentral ng Pilipinas and Indonesia’s BI-FAST instant-payment scheme, allowing the superapp to ride on each country’s national QR standard without interoperability surcharges. The group’s treasury will hold segregated e-money float across three central-bank regimes, insulating users from cross-currency volatility and speeding up settlement to T+0 for 92 % of transactions.

Investors have already signalled confidence: a pre-listing private placement raised US-$235 million from sovereign wealth fund 1Malaysia Development Bhd., Japan’s MUFG and Thailand’s SCB 10X at a 15 % premium to the merger valuation. Proceeds will fund a five-year, US-$300 million technology roadmap that includes tokenised loyalty points, biometric facial recognition checkout and blockchain-based escrow for cross-border e-commerce merchants.

Market context

The tie-up lands as ASEAN e-commerce gross merchandise value (GMV) is forecast to hit US-$280 billion by 2026, up 11 % year-over-year, according to Google-Temasek e-Conomy SEA 2025. Yet cash-on-delivery still accounts for 54 % of regional on-line orders, a friction point the superapp aims to erase by embedding one-click “Pay Later” credit lines pre-approved through MobilityOne’s existing bank partnerships.

About TETE Technologies Inc.

Headquartered in Kuala Lumpur with regional hubs in Jakarta, Manila and Bangkok, TETE Technologies operates ASEAN’s largest QR-code payment network, processing 1.8 billion transactions annually for 32 million monthly transacting users and 1.4 million merchants. The company’s superapp combines ride-hailing, food delivery, remittances, micro-investments and merchant services under a single regulated e-money licence.

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