June 2, 2014
On 1st June 2014, emerging player in mobile payment services - PushPay Holdings Ltd. - confirmed the purchase of the business assets of Run the Red Limited for an amount that is yet to be disclosed. Run the Red Limited is a market leader in delivering targeted text messaging solutions locally and globally, for an undisclosed sum.
We are excited to welcome the Run The Red team into Pushpay. Their technology will enable us to integrate mobile payments through SMS and mobile messaging, which is especially useful for enterprise clients. It also significantly boosts our technology stack allowing us to offer the same technology to our other target markets. We want to show the world how mobile payments can transform commerce, and Run The Red gives us the perfect combination of Kiwi technology and expertise to do that. Run The Red have led the local enterprise SMS market for 12 years based on their proprietary SMS gateway technology and extraordinary service ethic, stated CEO of Pushpay, Chris Heaslip, in a press release. They’ve proven that no other company can match them in creating relationships between businesses and consumers via mobile phones – they’re the perfect team to make mobile payments the natural extension of those relationships, he added.
Pushpay’s technology is a natural extension to the Run The Red proposition. This is a huge opportunity for us and our clients. Payments are the natural next place for enterprise text messaging to go. It’s inevitable that we’ll pay bills on our phones because there’s convenience and cost reduction for both consumers and businesses. Think about it as a consumer – you receive an overdue bill reminder and you’re able to pay it with one click from within the reminder text message. Consumers save penalty charges and hassle. Businesses save costs, commented CEO Ben Northrop, in the same release. The convergence of text and mobile payments is inevitable. It’s not a question of ‘if?’ – the only question is ‘when?’'.