Naspers' fintech arm PayU acquires Red Dot Payments, which marks its entry in SEA region
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PayU, Naspers fintech arm, will acquire Red Dot Payments, a Singapore's largest digital payments firm. The firm acquired a majority stake in RDP, valued at about $65 million. The actual monetary value was not disclosed. Randy Tan, founder CEO will retain a stake while other shareholders will be liquidating their holdings in the company after the transaction. RDP is used in sectors such as food delivery, online retail, etc.