Red Dot Payment, an online payment gateway platform, made an announcement that it received an investment in seven figures in US Dollars by MDI Ventures a corporate arm of Telkom, venture arm of Indonesia’s largest telco.
The startup’s existing investors, Japan’s GMO Venture Partners, Wavemaker Partners, and Skype co-founder Toivo Annus, also joined this round. The firm provides payment consulting and merchant acquisition services for businesses that require the processing of online credit card transactions.
This new round of investment will make the firm increase it footprint in APAC region apart from having its operations in Singapore, Indonesia and Thailand. Its main focus is to help businesses in the travel, charity, and insurance sectors.
With an increasing adoption of ecommerce and online transactions in the region, different types of industries [will need a solution] more focused toward their specific needs. Red Dot Payment provides these advantages.
MDI Ventures CEO Nicko Widjaja commented on the same.
Red Dot Payment holds a Payment Card Industry Data Security Standard (PCI DSS) Level 1 Certification for its payment gateway. Red Dot Payment supports different modes of payment such as Visa, MasterCard, Nets, China UnionPay, TenPay, Alipay and 99bill. It’s the leading payment solutions provider in Asia Pacific for banks, acquirers and merchants. With scalable solutions, they enable merchants and financial institutions to provide complete end-to-end payment options for their customers worldwide to pay seamlessly, swiftly and securely.
As a venture capital arm of Indonesian state-own telco operator Telkom, MDI Ventures recently made headlines with its international expansion. It has recently formed a partnership with Australia-based Telstra Ventures and invested up to US$10 million to e-commerce enabler aCommerce.
Red Dot was founded in 2011 by former VISA and First Data executive, Randy Tan. The startup also has operations in Indonesia and Thailand.