Red Dot Payment carves niche in e-commerce with omni channel payment solutions
One-stop business payment solutions provider delivers customised payment solutions, with a strong focus on the hotel industry
Country Business Reports interviews and articles by Discovery Reports www.discoveryreports.com
Driven by rising consumer expenditures and disposable income levels, Asia-Pacific has become the largest e-commerce market in the world, with a total online revenue of approximately US$861 billion last year. One visionary company committed to helping online merchants harness the potentials of e-commerce is Red Dot Payment (RDP) – a one-stop business payment solutions provider delivering industry-specific, customised payment solutions, with a strong focus on the hotel industry.
“Our secure and flexible payment gateway solutions enable merchants to increase their revenues, streamline operations, reduce cost, and provide end-customers with a seamless online transaction experience,” says Randy Tan, managing director.
The company has payment processing solutions specifically designed for the hospitality segment. In Asia, it has secured major hotel deals including Centara Hotels & Resorts in Thailand and Hotel Properties in Singapore. This year, RDP partnered with the world’s largest serviced residence provider, The Ascott, to implement an online payment gateway to secure customer data. Its customised payment solutions include the tokenisation of payment card details, with a high level of encryption to protect the personal information of Ascott’s guests.
“We invest time and resources to better understand the different systems our customers use, including booking engines, global distribution systems and property management systems. We even acquired companies to gain insights on how hotel businesses operate,” Tan says. “We also focus on management information systems and relay the relevant information to our clients so they can do more data crunching to improve their businesses.”
The company’s payment gateway, RDP Connect, allows customers to accept online payments globally. Its e-invoicing solution, InstanCollect, sends e-payment and e-billing via email and supports brick-and-mortar businesses in providing electronic statements to their customers. Small- and medium-scale enterprises launching e-commerce sites will benefit from the company’s InstanPay. RDP also offers promotional modules to customers through InstanPromo, while InstanToken securely stores preloaded credit card details for one-click checkout payment.
Founded in 2011, the Singapore-headquartered financial technology company holds a Payment Card Industry Data Security Standard Level 1 certification for its payment gateway. In Asia, it has offices in Thailand and Indonesia and has a presence in Hong Kong and Taiwan. RDP handles transactions for merchants across 17 countries in Asia-Pacific and Europe, and will expand into the Middle East and Australia by next year.
During its funding round-up last year, the company secured a seven-digit funding in American dollars led by MDI Ventures, the venture capital arm of Indonesian state-owned telecommunications operator Telkom. RDP plans to use the fund to support its regional activities.
Leveraging the in-depth industry expertise of its strong management team, the company provides scalable and secure payment processing to firms with long-term growth ambitions.
“We maintain a global perspective and have a deep insight into the local cultures and payment ecosystems,” Tan says. “We adhere to the local central bank regulations and the operating guidelines of different payment modes such as Visa and Mastercard. Then, we build connections and networks with the local banks.”
The company’s omni-channel payment platforms enable businesses to integrate easily with global and local payment methods.
In Asia, it supports various payment modes such as BCA KlikPay and Mandiri Clickpay in Indonesia; eNETS and DBS PayLah in Singapore; and Alipay, Tenpay and WeChat Pay in China, in addition to global modes Visa, Mastercard, UnionPay, American Express and JCB.
Drawing from its proprietary technology, RDP provides customers with 24/7 technical support. “We have service-level agreements tailored to customers’ specific requirements. Our engineers on standby are ready to provide technical assistance within a fixed response time,” Tan says.
The company looks into other key growth areas, particularly insurance providers, charities, airlines, and food and beverage segments. In Singapore, it is the chosen service provider of food chains McDonald’s McDelivery and Subway.
To create synergies, the company eyes collaborating with local industry players and expanding its strong networks in Asia.
“For us, it goes beyond gaining profits or building a legacy, but enjoying the process and making a difference in the communities, in our employees, stakeholders and shareholders,” Tan says.