PayU, an online payment processing and service provider across the world, completed the acquisition of a majority stake in Red Dot Payment, a payment service provider in Asia. Under the terms of the agreement, PayU acquired a majority stake in RDP in a transaction valuing the company at $65m. The founder will continue to retain a stake in the company, while the majority of other shareholders will exit. "We are proud of how far we have come and that PayU, a leading global fintech operator and investor, recognizes the strength, depth, and breadth of the company that we have built with unwavering dedication over the past eight years. We are pleased that RDP will be part of the Naspers’ fintech portfolio as we look forward to a continued extension of our business and market position in Southeast Asia to be the fintech payment solutions champion in this region." Randy Tan, Red Dot Payment, CEO.