Payments

PayU, Red Dot Payment gain Visa, Mastercard licenses for Southeast Asia

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August 27, 2021

PayU, the payments and fintech business of Prosus, has announced its company Red Dot Payment, a Southeast Asia online payment solutions provider, has acquired licenses to connect to Visa and Mastercard. With this license, merchants can process higher volumes of payments in currencies such as US dollars, euros and the yen with credit cards, according to a press release.

This service will be available to both domestic and international merchants due to its integration with the PayU Hub cross-border payments solution.

"At PayU, we are focused on providing our merchants with the tools and capabilities to expand across borders, particularly in high-growth markets like Southeast Asia where e-commerce has proven its socio-economic advantages," Mario Shiliashki, CEO of global payments organization, PayU, said in the release. "With these new acquiring capabilities of Red Dot Payments, we are helping global merchants reach even more consumers across the region."