<p class="wp-block-paragraph">PayU, a leading online payment service provider in 18 high growth markets, and fintech business of Naspers-a global consumer internet group- on July 5, announced its acquisition of a majority stake in Red Dot Payment, a Southeast Asia focused online payment solutions provider. </p>



<p class="wp-block-paragraph">With this transaction, ;PayU has expanded into the Southeast Asia region and brings the total amount deployed in fintech investments and M&;A to north of $700 million over the last three years. </p>



<p class="wp-block-paragraph">The move demonstrates PayU’s commitment to becoming the leading payments solution provider in high-growth markets and ;one of the largest fintech investors in the world.</p>



<p class="wp-block-paragraph">This was made known, in a press
release made available to OpenLife, by Adam Hunter, a South African PR
agency for industry leaders, PRWeb.</p>



<p class="wp-block-paragraph">According to
the release, PayU, formed in 2011 by a group of payment experts from various
Fortune 500 companies in the industry, RDP has grown into Singapore’s largest
home-grown and trusted online payment solutions fintech company, delivering
innovative, secure and customised payment solutions for all enterprise sizes
across Asia and beyond. </p>



<p class="wp-block-paragraph">With an
ever-expanding presence across Southeast Asia, including offices in Indonesia
and Thailand, RDP has been focused on booming verticals such as online retail,
hospitality, charity, food delivery and more.</p>



<p class="wp-block-paragraph">Research indicates that Southeast Asia ;is ;one of the fastest
growing digital payments markets ;in the world, ;and ;is expected
to triple in size to ;US$240 ;billion ;in ;total payments
volume ;by 2025. ;</p>



<p class="wp-block-paragraph">The region is ;already ;home to 350 million internet users
across its six largest countries, ;exceeding that of the population ;of
the United States, presenting an ;immense business potential for global
merchants. With this deal, PayU successfully creates a winning proposition for
global merchants ;by integrating ;RDP ;platforms into the PayU Hub.
PayU can now build a best-in-class cross-border product by offering more
local ;alternate payment methods ;and ;connectivity. ;</p>



<p class="wp-block-paragraph">In a comment bt Laurent le Moal, CEO of PayU, “This
investment is PayU’s first step towards expansion in the SEA region. We will
now provide our existing global merchants access to Southeast Asia with a
single API integration, thus strengthening our global PayU Hub platform. Owing
to the immense potential that the SEA market presents, PayU sees a vast
opportunity in this region to grow and innovate further. We will continue to
look for prospects to reinforce our footprints in this market.”</p>



<p class="wp-block-paragraph">“As part of our business strategy, PayU will
collaborate with the promising founders who are driven by an entrepreneurial
passion. We’re excited to welcome Randy and the team to PayU as we continue to
pursue our vision of creating a world without financial borders”, he further
added. ;</p>



<p class="wp-block-paragraph">Randy Tan, CEO and Founder of Red Dot Payment, added: ;&#8220;We
are proud of how far we have come and that PayU, a leading global fintech
operator ;and investor, recognises the strength, depth, and breadth of the
company that we have built with unwavering dedication over the past eight years.
It has never been easy for global merchants to enter Southeast Asia ;as they benefit from RDP’s strong
local ;connectivity combined with PayU’s global footprints and experience.
We are pleased that RDP will be part of the Naspers’ fintech ;portfolio as
we look forward to continued extension of our business and market position
in ;Southeast Asia ;to be the
fintech payment solutions champion in ;this region.&#8221; ;</p>



<p class="wp-block-paragraph"> ;Under
the terms of the agreement, PayU has acquired a majority stake in RDP in a
transaction valuing the company at US$65 million. The founder will continue to
retain a stake in the company, while the majority of other shareholders will
exit. ;Evolve Capital Asia acted as the
exclusive financial adviser to the Founder and selling shareholders.</p>

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