RedotPay

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RedotPay scores 9 of 16 on the CBL Card Score. RedotPay, Visa. Custodial, segregated, own trust company. Xfers (StraitsX) for Singapore; undisclosed for Hong Kong.

Health Check · checked 28 September 2026

Watch. Hong Kong MSO and trust company licences. BIN sponsor named only for the Singapore programme; undisclosed for the Hong Kong programme that serves other regions. Custodial with no deposit protection. Discretionary suspension clause in the terms.

CBL Card Score: 9 of 16

Criterion	Points	What we found	Source
Custody	1 of 2	Custodial. Assets are held by Red Dot Trust Limited, RedotPay's own Hong Kong trust and company service provider, in a pooled omnibus vault in which each user's assets are identified separately from other users' and from company assets, with a USD 42 million insurance policy from OneDegree; the custodian account terms say it is not a deposit account and carries no deposit protection (official). A 2023 RedotPay post named Cactus Custody as custodian; no current RedotPay page mentions it.	official checked 28 September 2026
Issuer and licence	1 of 2	Singapore programme: issued by Xfers Pte Ltd (StraitsX), a MAS-licensed major payment institution, under a licence from Visa (official, redotpay.com/sg). Hong Kong programme: no bank or BIN sponsor named; the card is provided by Red F. Technology Limited (official, Hong Kong cardholder terms). Licences: Hong Kong Money Service Operator licence through an acquired licensee, June 2024, and a trust or company service provider licence (official); registered with Argentina's CNV as PSAV no. 144 (official). Scored at 1 because the issuer is named only for Singapore, under a payment institution licence.	official checked 28 September 2026
Availability	2 of 2	Over 100 countries (official). RedotPay publishes exclusion lists rather than a supported list: 40 countries and regions cannot register, including the US, mainland China, Russia and, in the EU, Croatia and Slovenia. The UK, the other 25 EU states and the UAE are not excluded (official, help centre, 28 Aug 2026). Physical cards cannot be delivered to 49 places including India, Indonesia, Egypt, Morocco and Turkey (official).	official checked 28 September 2026
FX fee on a foreign-currency purchase	1 of 2	1.2% on a non-default-currency transaction, plus a 1% conversion fee when crypto becomes spendable balance, so about 2.2% all-in on a foreign purchase (official, fee table of 24 July 2026). All new cards are issued in USD from 21 January 2026 (official).	official checked 28 September 2026
Funding cost	0 of 2	Virtual card $10 one-time. Physical card $100 one-time, standard mail free, DHL express varies by country. Virtual card replacement $5 then $10. 1% crypto conversion fee. Deposits free (official fee table; the 3% bank card deposit fee reported by third parties is not in it). Small authorisations of $1 or less: first five a month free, then $0.20. Declined transactions: first three a month free, then $0.50 (official). 1.5% surcharge, minimum $0.50, at listed merchants such as Facebook Ads and Discord, first three such purchases each month waived (official, help centre).	official checked 28 September 2026
Apple Pay and Google Pay	2 of 2	Apple Pay and Google Pay in supported regions (official, redotpay.com/sg and help centre). Apple suspended new Apple Pay enrolments for Hong Kong cards-as-a-service programmes from 22 Aug 2025; cards already added keep working and RedotPay offers a free card upgrade with a new card number to link Apple Pay (official, help centre).	official checked 28 September 2026
Freeze and dispute policy	1 of 2	Terms allow RedotPay to suspend, limit or terminate use at any time, without notice, at its sole discretion. Disputes: contact support@redotpay.com within 60 days of the transaction; chargebacks follow card network rules; RedotPay's and the network's decisions are final. No response-time commitment (official, Singapore cardholder terms).	official checked 28 September 2026
Yield on idle balance	1 of 2	Nothing on the card balance: the custodian account terms say no interest or returns are paid. RedotPay Earn, run by RedotPay Panama, takes USDC or USDT from 100 upwards at a variable rate shown only in the app, with no lock and no redemption limit, in supported regions only; the annual RedotPay Pro plan adds 1% on the first $1 million (official, help centre). Scored at 1 because the base rate is unpublished and the product is region-limited.	official checked 28 September 2026

Total 9 of 16. Official means the company's own site, terms or help centre. Third-party means a named review site with its own check date; a third-party fact is reported, not verified, and the score stands until an official source confirms or contradicts it.

Score history

28 September 2026	9 of 16	Issuer 0 to 1: RedotPay's own Singapore page names Xfers Pte Ltd (StraitsX), a licensed payment institution, as the issuer; the Hong Kong programme still names none. Availability 1 to 2: RedotPay's own exclusion lists leave the UK, 25 EU states and the UAE open, and it states service in over 100 countries. Custody, fx, funding, wallets and ATM move from third-party to official sources with no score change.
23 September 2026	7 of 16	First score

Standing

Company	RedotPay, Hong Kong based, founded 2023. The general terms (9 July 2026) name six group entities: Red F. Technology Limited (Hong Kong card provider), Red Dot Technology Limited and Red Dot Trust Limited (Hong Kong custodian), RedotX (Tango) Limited (Argentina), RedotX Global (Panama) S.A. and Red Dot Payment Inc. (Montana). Singapore cardholders contract with Redotpay Technology Pte. Ltd., company no. 202346379C, as programme manager (official).
Network	Visa. Both cardholder programmes, Hong Kong and Singapore, are Visa; no Mastercard programme appears on any official page (official terms). official
Rails	Singapore programme: the card is issued by Xfers Pte Ltd (StraitsX), a Singapore-licensed major payment institution, as BIN sponsor under a Visa licence (official, redotpay.com/sg and the press release of 10 Feb 2025). Hong Kong programme, which serves other regions: provided by Red F. Technology Limited, RedotPay's own Hong Kong entity, and classed as a credit card under Hong Kong law; no bank or BIN sponsor is named (official, Hong Kong cardholder terms). Custodian Red Dot Trust Limited (official).
Card spend, August 2026	$403.6M, reported to Paymentscan by RedotPay and not verified by Paymentscan (third-party). Not part of the Card Score.
Website	www.redotpay.com
Health tag	Watch Hong Kong MSO and trust company licences. BIN sponsor named only for the Singapore programme; undisclosed for the Hong Kong programme that serves other regions. Custodial with no deposit protection. Discretionary suspension clause in the terms.
Last checked	28 September 2026

When it goes wrong

Terms allow RedotPay to suspend, limit or terminate use at any time, without notice, at its sole discretion. Disputes: contact support@redotpay.com within 60 days of the transaction; chargebacks follow card network rules; RedotPay's and the network's decisions are final. No response-time commitment (official, Singapore cardholder terms).

The dispute route, in order: the company's own support desk, then the card network's chargeback rules, then the regulator of the issuer where one is named. A frozen card is a question, not a verdict: the Frozen Account Survival Kit applies to cards too.

Costs

FX	1.2% on a non-default-currency transaction, plus a 1% conversion fee when crypto becomes spendable balance, so about 2.2% all-in on a foreign purchase (official, fee table of 24 July 2026). All new cards are issued in USD from 21 January 2026 (official). official
Funding	Virtual card $10 one-time. Physical card $100 one-time, standard mail free, DHL express varies by country. Virtual card replacement $5 then $10. 1% crypto conversion fee. Deposits free (official fee table; the 3% bank card deposit fee reported by third parties is not in it). Small authorisations of $1 or less: first five a month free, then $0.20. Declined transactions: first three a month free, then $0.50 (official). 1.5% surcharge, minimum $0.50, at listed merchants such as Facebook Ads and Discord, first three such purchases each month waived (official, help centre). official
ATM	USD card: 2% up to $10,000 a month, 3% above. HKD card: 2%. Three withdrawals a day and 30 a month; $3,750 a day and $50,000 a month, lower in some countries (official fee table).
Tiers	Standard card. RedotPay Pro at $12.90 a month or $129 a year: monthly waives the $10 virtual card fee; annual also waives the $100 physical card fee, gives $1,000 a month of fee-free ATM withdrawals and adds 1% on Earn (official).

Cashback, as of 28 Sept 2026

0% on the standard card. RedotPay Pro: 3% on Apple Pay and Google Pay purchases, capped at $18 a month, paid in USDs that expire after 30 days (official).

Cashback is a dated fact, not part of the Card Score. Promo rates change too often to score.

Availability

Over 100 countries (official). RedotPay publishes exclusion lists rather than a supported list: 40 countries and regions cannot register, including the US, mainland China, Russia and, in the EU, Croatia and Slovenia. The UK, the other 25 EU states and the UAE are not excluded (official, help centre, 28 Aug 2026). Physical cards cannot be delivered to 49 places including India, Indonesia, Egypt, Morocco and Turkey (official). official

Identity checks: Full identity verification (official).

What we still need confirmed

Facts marked official come from RedotPay's own pages or terms. Facts marked third-party are reported by a named review site and count as reported, not verified. These items are open for the next Monday sweep:

Name of the BIN sponsor or issuing bank behind the Hong Kong programme, rescore issuer to 2 if a licensed bank or EMI is named open
A positive supported-country list confirming the UK open
Whether Cactus Custody still holds any client assets, or only Red Dot Trust Limited open
The RedotPay Earn base rate on an official page open
Whether the 3% bank card deposit fee reported by third parties exists; the official table says deposits are free open
Yield: a third party reports flexible Earn on USDC and USDT with no lock-up from 100 units, open beyond RedotPay Pro. Check RedotPay's own Earn terms; rescore yield to 2 if Earn is open to Standard users with no lock. open

Sources

Paymentscan, RedotPay card page third-party · checked 29 September 2026

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