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MTN vs Vodacom, Cell C, Telkom, Rain for the Best Mobile Network in SA

iPhone.
iPhone. Halfpoint / Shutterstock.com

MyBroadband Insights has released its Q2 2019 Mobile Network Quality Report, which shows that MTN has the best mobile network in South Africa.

The report is based on 330,596-speed tests which were performed by thousands of MyBroadband Android Speed Test App users across South Africa between 1 April and 30 June 2019.

The research shows that South Africa had an average mobile download speed of 25.67 Mbps, up from 24.20Mbps in the previous quarter.

MTN had the highest average download speed at 35.90Mbps, followed by Vodacom on 29.76Mbps, Telkom on 23.07Mbps, Rain on 17.91Mbps, and Cell C on 17.32Mbps.

MyBroadband Insights Director Marius Hollenbach said there has been a significant increase in network performance from MTN, Vodacom and Telkom in 2019.

The increased network speeds are a result of improved LTE coverage and better HSPA availability in rural areas, he said.

Rain is the only operator which saw a slump in performance during the second quarter of 2019, which is likely a result of more users joining the network.

Best mobile network in South Africa

To determine the best mobile network in South Africa, a “Network Quality Score” was calculated for each network using download speed, upload speed, and latency.

The Network Quality Score out of 10 then shows how the network performed in relation to other networks.

MTN reigned supreme with a Network Quality Score of 9.78, followed by Vodacom on 8.24, Telkom on 6.16, Rain on 6.09, and Cell C on 5.35.

The table below provides an overview of the mobile network rankings in South Africa.

Network Operator Download Speed (Mbps) Upload Speed (Mbps) Latency (ms) Network Quality Score
MTN 35.90 13.95 34 9.78
Vodacom 29.76 11.53 37 8.24
Telkom 23.07 5.10 38 6.16
Rain 17.91 7.68 30 6.09
Cell C 17.32 8.50 49 5.35

 

Multichoice appoints Mabuza, Sanusi as non-Executive Directors

Multichoice
Multichoice

JSE-listed pay-TV group Multichoice has appointed Jabu Mabuza and Dr Fatai Adegboyega Sanusi as independent non-executive directors.

Their appointment is effective from 5 July.

Mabuza was recently appointed as the chairman to the board of Sun International. He was previously the Group CEO and later the Deputy Chairman of Tsogo Sun.

He recently retired as chairman of Telkom SA and as president of Business Unity South Africa.

Mabuza currently serves as the chairman of various companies including Anheuser – Busch InBev / SAB Miller – Africa, the Casino Association of South Africa and Eskom.

Outside South Africa, Jabu has served on numerous company’s boards covering various industries and has a wide array of organisational memberships in South Africa and abroad.

In 2017, an Honorary Doctor of Commerce degree was awarded to Mabuza by the University of Witwatersrand in recognition of his entrepreneurship achievements and his contribution to the South African economy.

Dr Fatai Adegboyega Sanusi is currently a senior consultant in the UK National Health service, serving in this position for 19 years at West Hertfordshire NHS Trust. He has also accumulated years of experience in governance and risk management at a senior management Board level.

He is active in education and training and has served as Training director of the department for several years.

Dr Sanusi graduated from the University of Lagos in 1986.

The company said its board welcomes Mabuza and Sanusi to the Company and looks forward to their contribution.

MultiChoice Group includes MultiChoice South Africa, MultiChoice Africa, Showmax Africa, and Irdeto.

SA Transport Minister on E-Tolls, e-Hailing Services

UBER
UBER. Proxima Studio / Shutterstock.com

Transport Minister Fikile Mbalula says the government would find a solution to the prolonged e-tolling impasse.

Mbalula was addressing the 38th annual Southern African Transport Conference (SATC) in Pretoria.

His utterances followed the spat on social media between Gauteng Infrastructure Development and Property Management MEC Tasneem Motara, Premier David Makhura and Finance Minister Tito Mboweni regarding the controversial e-tolls.

“The President has established a task team, led by myself, about the options on the table. A report will be tabled before him and from there will be given to the Cabinet,” he explained.

“We know that there are robust views that come from the treasury in terms of the fiscus and the debt that we owe. We know there are views in relation to our borrowing capacity and the bond market,” he said.

Despite this, Mbalula promised to have a solution to the e-tolling matter by August this year.

SATC continues until Thursday, 11 July and will host a contingent of international and local transport industry speakers, thought leaders, academics, students and engineers.

e-Hailing services

Mbalula conceded that the government had to make speedy provision to regulate e-hailing services in the country.

“Government’s role is to speedily come up with new policies and laws that will render disruptive transport technologies beneficial to all, and easily adaptable to the abruptly changing environments.”

The Minister stated that as a country, we are still a long way off the transition from driver-operated to autonomous vehicles.

Emoji aren’t Ruining Language: they’re a Natural Substitute for Gesture

emoji
Gestures and emoji don’t break down into smaller parts, nor do they easily combine into larger words or sentences. Shutterstock

by Lauren Gawne

We’re much more likely to be hanging out on social media than at the watercooler these days. But just because we’re no longer face-to-face when we chat, doesn’t mean our communication is completely disembodied.

Over the last three decades, psychologists, linguists, and anthropologists, along with researchers from other traditions, have come together to understand how people gesture, and the relationship between gesture and speech.

The field of gesture studies has demonstrated that there are several different categories of gesture, and each of them has a different relationship to the words that we say them with. In a paper I co-authored with my colleague Gretchen McCulloch, we demonstrate that the same is true of emoji. The way we use emoji in our digital messages is similar to the way we use gestures when we talk.




Read more:
What your emojis say about you


What gestures and emoji have in common

We can break speech down into its component parts: sentences are made of words, words are made of morphemes, and morphemes are made of sounds.

Signed languages have the same features of grammar as spoken languages, but with hand shapes instead of sounds. They have some advantages in complex expressions that spoken languages don’t have, but there are gestures as well as grammatical features when people sign.

By contrast, gestures and emoji don’t break down into smaller parts. Nor do they easily combine into larger words or sentences (unless we’re using a clunky version of the grammar of our language).

While there are preferences, there is nothing “grammatical” about using 😂 instead of 😹. Rather, what is most important is context. 🐶 could be a reference to your own dog, a good dog you saw while out for a walk, or a sign of your fondness for puppers over kitties.

There are some gestures that can have a full meaning even in the absence of speech, including the thumbs up 👍, the OK sign 👌 and good luck 🤞. Gestures like these are known as emblems, some of which are found in the emoji palette. Some object emoji have also developed emblematic meanings, such as the peach 🍑, which is most typically used non-illustratively to represent a butt.

Many gestures and emoji do not have these specific meanings. So, let’s take a look at different ways emoji are used to communicate with reference to a common framework used to categorise gestures.

Illustrative and metaphoric emoji

Illustrative gestures model an object by indicating a property of its shape, use, or movement, such as the classic “the fish was THIS big” gesture. Similarly, we often use emoji to illustrate the nature of a message. When you wish someone a happy birthday you might use a variety of emoji, such as the cake with candles 🎂, slice of cake 🍰, balloon 🎈, and wrapped gift 🎁.

It’s not grammatically correct to say “birthday happy”, but there’s no “correct” sequence of emoji, just as there is no one correct way to gesture your description of the fish you caught.

We also have metaphoric uses of gesture and emoji. Unlike a “big fish”, a “big idea” doesn’t have a physical size, but we might gesture that it does. Similarly, our analysis showed that people typically use the “top” emoji 🔝 to mean something is good.




Read more:
Emoji are becoming more inclusive, but not necessarily more representative


Beat gestures are used for emphasis

Another common type of gesture used to draw attention is a beat gesture, distinguished by a repetitive “beat” pattern. Some uses of emoji have a direct parallel to beat gestures. For example, using the double clap 👏 for emphasis, which has its origins in African American English.

The emphatic nature of beat gestures helps explain something about common strings of emoji. When we looked at sequences of emoji the most common patterns are pure repetition, such as two tears of joy emoji 😂😂, or partial repetition such as two heart eyes and blowing a kiss/heart 😍😍😘. Repetition for emphasis is rare (but possible) with words, but very common for gesture and emoji.

Along with these categories, we also looked at pointing and illocutionary gestures and emoji, which help show your intentions behind what you’re saying – whether that’s amused 😂 or ambivalent 🙃.




Read more:
Understanding the emoji of solidarity


Emoji have limitations that gestures don’t

There are obviously some differences between online and physical chat. Gestures and speech are closely synchronised in a way emoji and text can’t be. Also, the scope of possibilities with gesture are limited only to what the hands and body can do, while emoji use is limited to the (currently) 2,823 symbols encoded by Unicode.

Despite these differences, people still use the resources available to them online to do what they’ve been doing in face-to-face conversations for millennia. Bringing together research on gesture and internet linguistics, we argue there are far more similarities between emoji and gesture than there are between emoji and grammar.

Instead of worrying that emoji might be replacing competent language use, we can celebrate the fact that emoji are creating a richer form of online communication that returns the features of gesture to language.The Conversation

Lauren Gawne, David Myers Research Fellow, La Trobe University

This article is republished from The Conversation under a Creative Commons license. Read the original article.

De Beers Invest In Women Engineers Fellowship Programme

WomEng Fellowship Programme participants
WomEng Fellowship Programme participants

De Beers Group is investing $315,000 R4.4 million) over three years in programmes that aim to encourage young women to study STEM (science, technology, engineering and mathematics) subjects and to pursue engineering careers in South Africa, Namibia and Botswana.

“With a global shortage of engineers, and women representing only 11 per cent of the engineering workforce, attracting more young women into engineering is vital,” Katie Fergusson, Senior VP Social Impact, De Beers Group, said.

“In our fast-changing world, we need diversity of thought to find new solutions, so we are therefore thrilled to be able to partner with WomEng and play a role in supporting the next generation of talented engineers who will play a critical role in shaping the future.”

WomEng, founded in South Africa in 2006, has run programmes in 19 countries and reached more than 50,000 girls and women studying STEM subjects. They are currently partnering with UNESCO on their #1MillionGirlsinSTEM goal.

The programme in partnership with De Beers Group, Unilever and EY, is designed to strengthen the students’ employability and leadership skills and cultivate innovative entrepreneurial thinking through the WomEng Innovation Challenge. Students are challenged to develop an engineering business solution to meet the UN’s Sustainable Development Goals.

De Beers Group hosted 60 female pre-and-post graduate engineering students from South Africa, Botswana and Namibia at its Johannesburg Head Office on Thursday, 4 July 2019 to learn more about De Beers Group and the diamond value chain.

The students were hosted by Managing Director of De Beers Group Managed Operations, Mpumi Zikalala, who took the aspiring female engineers through her journey in the mining industry. Mpumi spoke of her humble beginnings as an Anglo American bursar, to becoming the first female General Manager of De Beers Kimberley and Voorspoed mines.

She was later appointed Senior Vice President of the Group’s Sightholder Sales in South Africa before taking over as Deputy CEO of De Beers Consolidated Mines in 2017. Zikalala has been in her current role since April 2019.

“The world you are about to enter into requires passion, dedication and hard work, but you must always remember not to compromise who you are along this journey – always stick to your values,” said Zikalala.

“I am very proud to be part of a company that is driven by its purpose to re-imagining mining to change people’s lives. We are also committed to empowering women and girls and I hope you take this opportunity to learn and become the best versions of yourselves.”

The students were also given the opportunity to enter into the world of diamonds interacting with various De Beers Group departments such as De Beers Group Technology, Exploration, Innovation (Ignite) and Element Six.  The evening ended with a simulation exercise that tested their problem-solving skills and teamwork.

Next month, a series of half-day GirlEng #AskAnEngineer workshops will begin, facilitated by engineers, students and the WomEng team. Each session will target 200 girls in schools around De Beers Group’s operations. The first is in Musina, South Africa, followed by sessions in Windhoek, Namibia, and Orapa and Jwaneng in Botswana.

The sessions are designed to create awareness of the importance of STEM subjects and to provide the students with practical tools and routes to access engineering and technology careers. They will be followed by a regional GirlEng programme, where 60 students chosen from the earlier sessions are eligible for a sponsored two-day Innovation Boot-Camp in Johannesburg in March 2020. Students will also be provided with support for university and scholarship applications, as well as exposure to mining environments.

“The event, hosted by De Beers Group, solidified our WomEng-De Beers Group relationship and collective commitment to developing young engineering leaders with skills of the future. The future looks bright and we are excited,” Aditi Lachman, WomEng Programme Coordinator said.

SA’s Datatec Buys Mars Technologies,

South African currency
South African currency. Kevin Shine / Shutterstock.com

JSE-listed technology group Datatec has acquired Mars Technologies for an undisclosed amount.

The acquisition was facilitated via Logicalis SA, a subsidiary of Datatec.

Mars Technologies, an IT services business, has offices in Cape Town, Johannesburg, Port Elizabeth, Durban and East London employing 76 staff.

It delivers Managed IT services ranging from the remote monitoring of networks and servers, managed desktop, anti-virus, cloud backup, and printers, to full outsourcing, targeting small and mid-market enterprises. Software solutions and application development complement the services offering.

With the acquisition, the Logicalis South African operation strengthens and expands its managed services business in IP telephony, call centre, cloud, managed desktop, Networks and IT solutions to its local and international customers over the combined portfolio.

“With the acquisition, the Logicalis South African operation strengthens and expands its managed services offering to better serve our corporate customers and deliver new services to existing customers from both companies,” said Jens Montanana, Datatec’s CEO.

 

Prepaway – Learn Everything About TEAS Exam for Admission to Nursing Programs

Exam
School student's taking exam writing answer in classroom. Chinnapong / Shutterstock.Com

TEAS Exam stands for the Test of Essential Academic Skills. It is a standardized exam conducted by the ATI (Assessment Technologies Institute). The company is widely known for providing varied kinds of tools to help nursing students pass professional tests. The exam is mainly created to assess the individual’s preparation in the field of health science.

TEAS test is taken up as a prerequisite for getting admission into nursing programs or any allied health school.

TEAS tests is considered to be necessary to evaluate the students’ performance and skills and determine whether they are able to reach a better academic level. The exam focuses on the following knowledge areas: English, Science, Reading and Mathematics. First of all, it helps to determine the likelihood of a person’s success in the field of health science.

What to do in order to take TEAS Exam?

The first step is to register on the ATI website for TEAS exam. You can select a particular date along with the desired centre location. The payment procedure has to be fulfilled online following which you will receive a confirmation email.

To attend the TEAS exam, you will have to visit the exam centre with a proper photo ID for identification purpose. The document should be government-issued with a current photograph and a permanent address. To pass your test, you must have your log-in information to the ATI website at hand on the exam day. There may be some additional requirements to be fulfilled depending on the nursing schools. Candidates are advised to check their emails for confirmation and updates for the exam.

The fee structure of the TEAS

The official registration fee according to the ATI comes to be around $50. You can contact the ATI website for more information regarding the registration fees. It is non-refundable so in case you fail to attend the exam, the registration fees would not be refunded under any condition.

If you want to retake the exam, you can register with ATI and make another payment procedure. The newly issued scorecard can be used for fresh application processes without any hurdles. In case you want to reschedule the exam, you can do so prior to 24 hours of the exam.

Individuals need to prepare well for the TEAS exam in order to achieve good passing scores. The TEAS exam basically decides your entire future in your nursing career, so it’s essential to focus on each of the topics involved.

The types of questions and duration of the exam

ATI TEAS exam comes with 170 multiple-choice type questions with 4-option answers. The questions are created in a way that will test all your fundamental academic knowledge and skills. Below you will find a brief description of each exam section.

Reading section

It comprises of 53 questions and has a time limit of 64 minutes. The areas covered under this section include:

  • Key Details and Ideas
  • Structure and Craft
  • Integration of Knowledge and Ideas

The section focuses on assessing the basic reasoning skills of the individual. There will be various comprehensive passages and paragraphs given for the candidates to derive a proper conclusion from.

Mathematics section

This unit comprises of 36 questions and has a time limit of 54 minutes. It covers the following areas:

  • Algebra and Numbers
  • Data and Measurement

This involves percentile, metric conversions, fractions and ratio-based questions. It mainly focuses on the problem-solving skills of the individual. Candidates will be provided with access to four-function calculators at the exam centre. No outside calculators are allowed inside the exam venue.

Science section

It comprises of 53 questions and has a time limit of 63 minutes. The areas covered under this section are:

  • Human Physiology and Anatomy
  • Life and Physical Sciences

This unit also includes questions based on Scientific Reasoning for assessing the candidate’s knowledge of chemical and physical concepts.

English and language section

It comprises of 28 questions with a time limit of 28 minutes. It covers areas such as:

  • Standard Conventions in the English Language
  • Vocabulary Acquisition
  • Knowledge of Language

The questions based on grammar are asked in this section which includes the construction of sentences and various lingual concepts. Candidates are required to have basic language skills in order to attend this section.

The overall exam timing is 209 minutes. Candidates will be provided with a 10-minute break following the Mathematics section. The break time is not included in the total duration of the exam. In case you need extra minutes of break, it will be deducted from the total duration of your exam. You can readily report any query or error during the exam to the invigilator present.

TEAS exam results

The TEAS scorecard will be provided to you after the completion of the online test. Individuals who took the pen and paper-based test can access the scores within 48 hours of the exam through the registered account on the ATI website. The score report also provides a detailed and focused review of the exam. The review tool helps in revealing the mistakes which might help you improve on certain study areas and concepts.

The TEAS score depends on the difficulty of the individual questions. When you get your scorecard, you can view the percentage of questions which were answered right. The total score gives a proper view of the candidate’s preparedness for the exam. It should be kept in mind that the score cannot be equal for distinct subject areas. The overall percent scores can range from 0-100 % depending on the content and subject areas.

You can send the scorecards to any nursing school program of your choice. ATI provides necessary means to send the scorecards to each school, or you can send it individually according to the rules and regulations. Good luck!

Using Virtual Reality Could Make You a Better Person in Real Life

VR experience
Amazed young woman touching the air during the VR experience. / Shutterstock.com

by Thuong Hoang and Guy Wood-Bradley

If you’ve ever participated in a virtual reality (VR) experience, you might have found yourself navigating the virtual world as an avatar. If you haven’t, you probably recognise the experience from its portrayal in film and on television.

Popular media has brought us characters like Jake Sully in Avatar, Wade Watts in Ready Player One, and Danny and Karl in the Black Mirror episode Striking Vipers.

In these examples, the character’s virtual alter-ego is physically different from who they are in the real world. The connection between the real person and their virtual avatar is called “embodiment”. If you have a strong sense of embodiment when using VR, you might feel as if your virtual body is your own biological body.

The moment in the film Avatar when Jake Sully experiences his virtual body for the first time.

Virtual embodiment provides an opportunity to explore the world from a different point of view. And studies have shown that experiencing new perspectives in the virtual world can alter your behaviour in real life.




Read more:
Virtual reality adds to tourism through touch, smell and real people’s experiences


How virtual embodiment works

Virtual embodiment isn’t entirely new. PC or console role-playing games generate a similar effect, albeit to a lesser extent. VR technology creates a far greater sense of immersion in the virtual world than two-dimensional screen experiences.

That’s because successful 3D virtual environments use more senses, compared with just visual and audio in 2D screen-based technologies. This approach ensures the user is fully engulfed in the synthetic world, which they experience through their virtual avatar.

Immersive visuals in VR trick the user into believing they are elsewhere, such as atop Mount Everest or at the Eiffel Tower. By presenting separate images to each eye, a 3D effect can be achieved when the user incorporates the information from each screen in the VR headset.

Stereoscopic view of the Eiffel Tower.
Google Maps Street View in VR

These visuals are captured with 360-degree photography or video cameras. Alternatively, actual photography or video can be used in VR environments.

Appropriate 360-degree sound also plays an important role as it can help convince the user of the authenticity of the virtual world.




Read more:
Walk inside a plant cell or glide over a coral reef: three ways virtual reality is revolutionising teaching


Touch, smell and ‘body ownership’

The sense of touch is a common form of sensory feedback. Every time you feel your mobile vibrate in your pocket, you’re interacting with “haptic” technology.

In VR, haptic devices simulate physical sensations that are triggered when avatars interact with virtual objects. There are devices that can alter an avatar’s weight distribution or aerodynamics to mimic what is happening in the virtual environment. Real physical props can also be used to introduce real-life challenges to VR sports. Haptic sensations can even be created in mid-air.

Smell, or olfactory sense, is another important mechanism that improves engagement within a virtual world. A Kickstarter campaign for a VR mask that can simulate the sense of smell using aroma capsules has exceeded its funding target, demonstrating the level of interest in multisensory VR.

In addition to extra senses, VR gives the user a sense of body ownership over the virtual avatar. Body ownership refers to the self-attribution of a (virtual) body. This can be achieved by synchronising multiple sensory feedback.

For example, when the user can see their virtual hand being touched and can feel the haptic sensation at the same time, they are more likely to believe the virtual body is theirs. This is demonstrated by the famous rubber hand experiment.

How virtual bodies affect behaviour

People respond differently to virtual avatars depending on who they are and the characteristics of the avatar. For example, a recent study found that women dislike their virtual avatar having male hands, whereas men are more likely to accept avatar hands of any gender.

Another study found that racial bias decreases when caucasians are represented by avatars that have darker compared with lighter skin.

The body shape of the avatar also affects behaviour. Researchers found that game players showed increased physical activity in the real world if they regularly played games with thin avatars as opposed to obese ones.

This suggests that the identities of virtual avatars can take precedence over our usual identities.




Read more:
How Virtual Reality is giving the world’s roller coasters a new twist


Choosing the right path

The ability to embody a virtual avatar blurs the lines between what’s going on in the headset and what’s happening in real life. It feeds the freedom to explore and experiment, whether that’s with a different personality, gender or physicality.

But the option has to be available in the first place if it’s going to have an impact. PC Gamer reported this week that the developers of the medieval multiplayer game Mordhau were considering introducing female and racially diverse skin tones into the game. The suggestion (which they deny) that they were also planning to give players the option to turn off this diversity if they don’t like it led to a wave of backlash within the gaming community.

Our own research with older adults has also revealed frustrations with the lack of flexibility in avatar creation tools, such as the inability to modify personal characteristics like facial features and fitness levels.

Embodiment is powerful. It can influence your self-identity, perception, and behaviours both in and outside of virtual worlds. The onus is on the future designers and developers of this technology to ensure this power is used for good.The Conversation

Thuong Hoang, Lecturer in Virtual and Augmented Reality, Deakin University and Guy Wood-Bradley, Lecturer in IT, Deakin University

This article is republished from The Conversation under a Creative Commons license. Read the original article.

To Buy, or To Lease –a car–, That is Millennials’ Question

Black matte sports car.
Black matte sports car. ParabolStudio / Shutterstock.com

South African Millennials, who have grand aspirations and the need to control their destiny, all agree that they are not willing to do without a vehicle, as for them mobility equals empowerment.

No wonder why one of their main interests is owning a car.

Having mobility enables them to go out, earn money and define their future. They can access reliable and, most importantly, affordable mobility by either buying or leasing a car.

South Africans, in general, tend to follow a more traditional financing model when it comes to buying cars.

They borrow money from a bank and then make the purchase. But the vehicle leasing concept came into being to provide an alternative to dealing with rising interest rates. And this seems to be appealing to the majority of those aged 23-37 who believe that choosing to lease a car over buying may suit their financial needs and pockets.

However, the price of the two options may not differ that much. If we compare car loans in SA, we’ll see that the annual interest rate of a R300 000 car loan payable in a 60-month period can be as low as 9,5 % with monthly repayments of R6 301. As regards the price of a car lease, the vehicle lease of 2016 cars can range in from R4 100 to R4 400 per month on average.

A vehicle lease lets Millennials pay for use of a vehicle in monthly instalments for a set period of time.

sports car
The image in front of the sports car scene behind as the sun going down with wind turbines in the back, DigitalPen/ Shutterstock.com

This way, they can drive a band new car every two to four years depending on the time of the lease agreement.

However, they are not the owners of the car and the agreement comes with limitations attached, particularly, on vehicle usage (there is a maximum amount of kilometres allowed and any amount over will incur penalties).

On the other hand, if they purchase a car, they own it once they have paid off the loan they took out to finance the purchase price of the vehicle. If they own the vehicle, of course, there are no limitations on how they can use it.

Yet a car loses about 19% of its value annually, which means that the car’s value decreases considerably during the time it takes to pay the loan in full.

When it comes to car ownership, Millennials have a distinct need for affordable vehicles –and are wise decision-makers. Balancing the pros and cons, including prices, of both options available to them can help them find the way to obtain access to the mobility they look for.

Naspers’ PayU Enters Southeast Asia Via Acquisition of Red Dot Payment

Fintech
Fintech (financial technology) on smart phone concept. Jirsak / Shutterstock.com

PayU, Naspers’ global FinTech company, is expanding into Southeast Asia after it announced a deal to buy a majority stake in Singapore-based Red Dot Payment.

PayU has acquired a majority stake in Red Dot Payment in a transaction valuing the company at $65 million (R million).

The founder will continue to retain a stake in the company, while the majority of other shareholders will exit. Evolve Capital Asia acted as the exclusive financial adviser to the Founder and selling shareholders.

According to one Google-Temasek study, Southeast Asia is one of the fastest growing digital payments markets in the world and is expected to triple in size to $240 billion in total payments volume by 2025.

The region is already home to 350 million internet users across its six largest countries, exceeding that of the population of the United States, presenting an immense business potential for global merchants.

With this deal, PayU successfully creates a winning proposition for global merchants by integrating RDP platforms into the PayU Hub.

PayU can now build a best-in-class cross-border product by offering more local alternative payment methods and connectivity.

The move demonstrates PayU’s commitment to becoming the leading payments solution provider in high-growth markets and one of the largest FinTech investors in the world.

“This investment is PayU’s first step towards expansion in the SEA region. We will now provide our existing global merchants access to Southeast Asia with a single API integration, thus strengthening our global PayU Hub platform,” Laurent le Moal, CEO of PayU, said.

“Owing to the immense potential that the SEA market presents, PayU sees a vast opportunity in this region to grow and innovate further. We will continue to look for prospects to reinforce our footprints in this market.

Naspers
Naspers. Image source: livemint

“As part of our business strategy, PayU will collaborate with the promising founders who are driven by an entrepreneurial passion.”

Formed in 2011 by a group of payment experts from various Fortune 500 companies in the industry, Red Dot Payment has grown into Singapore’s largest home-grown and trusted online payment solutions FinTech company, delivering innovative, secure and customised payment solutions for all enterprise sizes across Asia and beyond.

With an ever-expanding presence across Southeast Asia, including offices in Indonesia and Thailand, Red Dot Payment has been focused on booming verticals such as online retail, hospitality, charity, food delivery and more.

“We are proud of how far we have come and that PayU, a leading global FinTech operator and investor, recognises the strength, depth, and breadth of the company that we have built with unwavering dedication over the past eight years,” said Randy Tan, CEO and Founder of Red Dot Payment.

“It has never been easy for global merchants to enter Southeast Asia as they benefit from Red Dot Payment’s strong local connectivity combined with PayU’s global footprints and experience.

“We are pleased that Red Dot Payment will be part of the Naspers’ FinTech portfolio as we look forward to continued extension of our business and market position in Southeast Asia to be the FinTech payment solutions champion in this region.”