Secure Payment Systems has increased its stake in Red Rock Innovations LLC

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For Immediate Release:
   
Date: October 1, 2019
   
Contact: Scott Kanter, Secure Payment Systems
Phone: 813.969.6919
Email: skanter@securepaymentsystems.com
   
Contact: Ashwani Dhiman
Phone: 612.406.0555
Email: adhiman@redrockinnovationsllc.com

 

Las Vegas, Nevada - Secure Payment Systems (“SPS”) is pleased to announce that over the last 6 months it has increased its’ stake in Minneapolis based Red Rock Innovations LLC (“Red Rock”) to just over 40%.

Red Rock has built a software platform that is now being marketed exclusively to sovereign nations so as to automate online vendor licensing, employee vetting, and online vendor sales tax collection efforts that are each in large part manual processes today. Red Rock has already collaborated with the Minnesota Association of Indian Chambers of Commerce (www.maicc.org for more information) for exclusive distribution of Red Rock products and services to Minnesota tribal entities and already has 4 of the 11 Minnesota tribal nations signed to processing contracts.

Besides having an equity stake in the success of this unique vertical offering, SPS is additionally the exclusive provider of third party electronic ACH payment processing for handling online vendor payments. SPS Founder and Chairman Linden (Lin) Fellerman commented, “We’ve continued to make additional investment into what we believe to be of significant value to Tribal country needs via Red Rock’s automation platform, plus we also see the value in building a large payment processing portfolio for tribal nations across North America to cement Red Rock’s position as the preferred platform provider”.

Ashwani Dhiman (CEO) and Stan Smith, both co-founders of Red Rock Innovations, said of the additional SPS investment, “We continue to be excited about our alignment with the tribal community and our partnership with SPS. SPS has been a great partner to support our financial requirements and shape our growth strategies going forward”.


About Secure Payment Systems  (www.securepaymentsystems.com)

Founded in 1996 and headquartered in Las Vegas, NV Secure Payment Systems ("SPS") provides fully redundant payment processing solutions to over 10,000 retail, lending, wholesale, and corporate endpoints across North America. SPS facilitates the transfer of value by providing businesses with a full range of transaction processing, reporting, and risk management tools so they may quickly and confidently accept payments, pay vendors, or transfer funds at the POS or on the WEB. These solutions include underwriting and guaranteeing eCheck transaction risk, deferred payment programs allowing consumers to stretch retail purchases up to 18 months, automated origination of recurring & one-time ACH debits and credits, electronic remote check imaging & deposit, gift & loyalty card processing, as well as internal and external third party database verification access for a complete POS risk management solution.


Secure Payment Systems Inc. | 3993 Howard Hughes Pkwy #390, Las Vegas, NV 89169 | www.securepaymentsystems.com | 702.701.8433
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