[1] Established in 2011, Red Dot Payment (RDP) was founded by Randy Tan,[2][3][4] who is currently acting as its managing director.

[10] Within the same year, the company closed an investment of $5.2M Series B round[11][12] Red Dot Payment formed an alliance with e-commerce services companies Shopmatic and iCommerce Asia, to offer services to South-east Asian region's e-commerce market.

[15][16] Red Dot Payment signed a Memorandum of Understanding with Finserve Africa Limited at the opening of Enterprise Singapore Nairobi Centre.

[19][20][21] In July 2019, fintech and e-payment business PayU took a majority stake in Red Dot Payment.

The deal valued Red Dot Payment at US$65 million and saw founder and CEO Randy Tan retain a stake in the firm, while majority of its shareholders exited.