Online payment processors have become incredibly important over the last few years, and there is more competition in this space today than ever before...
Online payment processors have become incredibly important over the last few years, and there is more competition in this space today than ever before.
The landscape of online payment processors used to be dominated by traditional merchant accounts available from banks, credit unions, and other financial institutions or PayPal, but now there are a host of competitors flooding into the market on a regular basis all looking to better serve e-commerce platforms as well as services that want to be able to accept payments online.
At the end of the day, many of these online payment solutions are also looking to capitalize on the new trend of mobile payment and paperless payment solutions. These mobile applications make paying for goods and services directly from your smart phone as simple and as straightforward as possible, and many companies – including those that aren’t traditionally in this space – are branching into this realm left and right to boost their odds of becoming the dominant player in the game.
Red Dot Payment, a startup based out of Singapore that has been around for a handful of years now, has just recently received a whole host of Series B funding worth $5.2 million to better improve and expand their online payment processor operations.
Established by ex-Visa and MasterCard executives (and with one of the most flexible and fastest-growing startup teams in all of Singapore), Red Dot Payment has already established itself as a game changing new solution in the world of online e-commerce and online payment processing. They offer a variety of different services at inexpensive rates that allow small and large operations to capitalize on their next generation technology, easy to use applications, and secure payment processing platform to build and grow their own companies online.
RDP also offers a variety of other solutions outside of its core payment technology, including the creation of 100% custom solutions that integrate directly with client’s backend and custom shopping cart options that offer improved security and improved efficiency.
Already very established in Singapore and the rest of Southeast Asia, this new Series B round of funding is expected to help RDP continue to grow into markets throughout the rest of the Asian Pacific region and eventually into both Europe and the United States/North America as well.
A number of core partnerships between RDP and other startups throughout Singapore, as well as established financial institutions around the world, provides this company with a “pole position” and competitive advantage that other services in the same space do not enjoy. The security solutions that they have developed are considered to be some of the most robust in the online payment processor world, but that’s to be expected coming from a team established by executives and higher ups at both Visa and MasterCard.
At the end of the day, many expect even more funding to come pouring into the Red Dot Payment company in the next 12 months to allow them to continue their rapid and explosive growth. No one should be surprised if an IPO is in the cards down the line, on the New York Stock Exchange, no less, just because of the success that RDP has already been able to enjoy.
About the Author
Morris Edwards is a content writer at CompanyRegistrationinSingapore.com.sg, he writes different topics like Two major healthy living initiatives are expanded to improve life in Singapore and Pretty Happy at Work: Healthy Ways to Love What You Do and all topics related to Singapore, Company Incorporation and Business registration Singapore.
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