Miguel Cordon · · 1 min readNaspers fintech arm PayU enters Southeast Asia with Red Dot Payment buy
PayU, Naspers’ payments and fintech arm, has acquired a majority stake in Southeast Asia-focused online payments company Red Dot Payment (RDP).
According to a statement, the deal values RDP at US$65 million.
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“This investment is PayU’s first step towards expansion in [Southeast Asia],” said PayU CEO Laurent le Moal. “We will now provide our existing global merchants access to Southeast Asia with a single API integration, thus strengthening our global PayU Hub platform.”
The company added that it will continue to look for prospects in the region to further expand its Southeast Asian footprint.
With the deal, PayU looks to benefit from Southeast Asia’s growing digital payments market, which is expected to triple in size to US$240 billion in total payments volume by 2025, according to Google and Temasek.
Established in Singapore in 2011, RDP provides payments solutions for businesses across Asia and beyond. It has offices in Indonesia and Thailand.
Editing by Charmaine de Lazo
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