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Super 30 Companies Of The Year 2018

Simplifying Online Payments for a Local-Global World: Red Dot Payment

thesiliconreview-randy-tan-ceo-red-dot-payment-2018Red Dot Payment was founded in 2011by a group of visionary financial technology payment experts to make payments as simple and hassle-free as possible. It works for some of the biggest and brightest companies across Asia and the globe, bringing a premium payment service with a focus on cost reduction, revenue growth, and flexibility. From online consumer payments to B2B payment collection, the company is known to help the customers navigate the payments landscape. Whether it is improving their margins or launching new digital channels, the company’s aim is to make payments simple, easy and efficient. Red Dot Payment has grown into a trusted online payment company providing premium payment solutions and expertise.The company is headquartered in Singapore and has offices in Thailand and Indonesia. 

Born to succeed

Red Dot Payment believes that conquering e-commerce requires a global perspective along with a deep insight into local cultures and payment ecosystems. The company is proud to be working closely withthe merchants to help them harness the power of e-commerce.The company has become a trusted FinTech partner of banks, merchants, credit card associations, online payment gateways, non-banking financial institutions, security, and fraud management system providers through its commitment to innovation and quality. Red Dot Payment is a PCI DSS Compliant Service Provider with the highest level of PCI DSS accreditation.

In 2016, Red Dot Payment grew to handle millions of transactions across the globe, managed by a dedicated 40 people strong operation.

The product offerings

Online Payments:Red Dot Paymentprides itself in helping the clients navigate all the payment options available globally. With its payment gateway RDP Connect™, one can quickly and securely accept online payments from the customers.Salient features of the product:

  • Clients can choose the right payment methods for the business
  • Easy integration into shopping carts or the custom site
  • One can accept payments both globally and locally with ease

Rapid E-Commerce: With RDP InstanPay™, the company helps its client’s business setup an online sales channel with a simple one-page e-commerce site. It looks after security and technology, to make it simple, smooth and hassle-free for them. Their customers can select the products or services they want and make payment immediately using global and local payment modes such as Visa, Mastercard, UnionPay, eNETS (SG), and Alipay.How it works:

  • Clients add their products, pricing, and details with ease
  • They view how the page will look and make edits as necessary
  • They go live and allow customers to purchase online

Online Invoicing: With the company’s online invoicing solution RDP InstanCollect™, it can send invoices via e-mail, together with a link for the suppliers or clients to make immediate payment. With a simple click, the customers can easily pay without reaching for a cheque book or arranging a bank transfer. How it works:

  • The clients create an e-invoice with payments details such as amount and currency
  • They send the e-invoice to the customer via email
  • The customers receive the e-invoice and make payment via a payment link

Alternative Payments: In addition to paying online, the customers can also place orders and make payments over the phone or via email. Providing alternative payment options are ideal for markets with low internet bandwidth or online payment maturity. How it works:

  • The customer calls to place an order (or sends an email)
  • The sales representative requests for customer’s credit card information to charge it
  • The sales representative enters their information via the company’s system and completes the transaction

One-Click Payments: RDP InstanToken™ provides one-click checkout payment for securely storing cardholder data and preloading them for the customers during checkout.How it works:

  • Customers enter their card details when paying for items on the client’s site
  • Their card information is securely stored for future use
  • Customers make one-click payments when they return to the site

Recurring Payments: If a client operates a membership, license or subscription-based business, Red Dot Payment can help them manage and collect periodic payments easily and efficiently. Whatever is their billing cycle, they can customize billing schedules to match their business. Salient features of the product:

  • It reduces administrative manpower and human errors when the billing date arrives
  • It helps the clients to receive prompt (on-time) payment from customers, reducing the hassle of reconciliation

Greet the leader

Randy Tan, Chief Executive Officer of Red Dot Payment: Randy is the Founder of Red Dot Payment Pte Ltd (“RDP”). He has extensive experience across the financial, payment processing, and retail industries. Having worked for top Fortune 500 Multi-National Corporations, he has a record of establishing sound businesses across the AsiaPacific and breaking new ground. To date, his corporate restructuring skill and business acumen have led him to be a forerunner in the global payment market, including the credit and debit cards payment services. 

His last position before setting up Red Dot Payment in Singapore was Director of Consulting Service in Visa Inc., where he was incharge of all advisory service in the Indochina region and the Philippines. Randy Tan received a scholarship from Singapore Management University and North Carolina State University and graduated with a Bachelor of Business and Finance (cum laude).

“With passionate energy and integrity, we persevere to deliver quality results that our clients value and trust.”