Public Statement on the RedotPay Credit Card

Summary: RedotPay has issued a clarification on how its credit card works, the regulatory framework it operates under in Hong Kong, and its stance on misinformation. The card enables users to spend crypto for everyday purchases while settling card balances in a way that resembles traditional credit, not a debit-style stored value product.

What the RedotPay Credit Card Is

The RedotPay credit card is designed to let users pay at everyday merchants while holding digital assets. It aims to make spending as familiar as fiat payments, adding convenience and flexibility for users who participate in the digital economy.

Importantly, RedotPay states that the card does not operate like a debit or stored-value card. Customer cryptocurrencies are not used to settle transactions instantly at the point of sale. Instead, with the customer’s pre-authorization, assets may be applied later to repay the statement balance on the due date—mirroring how conventional credit works.

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Position on Hong Kong Licensing (as stated by RedotPay)

Stored Value Facility (SVF)

According to RedotPay’s statement, the company’s current business activities do not require an SVF licence under Hong Kong’s Payment Systems and Stored Value Facilities Ordinance. Because the card behaves like credit—and not an immediate stored-value spend—the company asserts it is not operating an SVF.

Money Lender Licence

RedotPay explains that credit card schemes operated on globally recognized payment networks are exempt from the Money Lenders Ordinance requirements. Separately, the RedotPay group also holds a valid Money Lender’s Licence in Hong Kong, underscoring its commitment to regulatory compliance for its blockchain-enabled payment solutions.

Note: This section summarizes RedotPay’s own public position and does not constitute legal advice. Users should consult the official site and applicable regulations for the most current information.

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Addressing Misinformation and Customer Support

RedotPay notes that misunderstandings have circulated on social media regarding the credit card. The company says it will engage with authors to correct inaccuracies and reserves the right to take legal action against defamatory or knowingly false claims.
Customers—current or prospective—are encouraged to contact RedotPay directly with questions about eligibility, fees, or product features.

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Transparency and Commitment to Compliance

The company emphasizes an ongoing commitment to:

• Regulatory compliance across relevant jurisdictions
• Clear communication about product design and card settlement mechanics
• User protection through robust onboarding, risk controls, and reputable partners

RedotPay positions the credit card as part of a broader effort to bridge traditional finance and crypto, supporting inclusive, real-world payments.

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Key Takeaways

• The RedotPay card is positioned as credit, not stored value.
• RedotPay asserts no SVF licence is required for its current model in Hong Kong.
• The group holds a Money Lender’s Licence and cites exemptions for card schemes.
• The company is addressing misinformation and invites users to reach out directly.