For Immediate Release:
   
Date: December 31, 2018
  
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
 

Secure Payment Systems Completes 21% Equity Purchase of Red Rock Innovations

Las Vegas, Nevada - Secure Payment Systems ("SPS") is pleased to announce a 21% membership interest of Minneapolis based Red Rock Innovations LLC ("Red Rock").

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 for exclusive distribution of Red Rock products and services to Minnesota tribal entities.

Besides having an equity stake in the success of this unique vertical offering, SPS will additionally be the exclusive provider of third party electronic ACH payment processing for handling online vendor payments. SPS Founder and Chairman Linden (Lin) Fellerman commented, "In addition to investing in what we believe to be of significant value to Tribal country needs via Red Rock's automation platform, 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 and Stan Smith, co-founders of Red Rock Innovations, said of the SPS investment, "We couldn't be more excited about the alignment with the tribal community and our partnership with SPS. SPS delivers the necessary payment processing infrastructure as well as senior level management attention to help us 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.


About Red Rock Innovations

Founded in 2016 and headquartered in Plymouth, Minnesota, Red Rock Innovations (Red Rock) has evolved into a state-of-the-art, secure, web-based software development and project management team allowing Tribal Nations to easily automate the vendor licensing and tax collection processes. The tribal solution provides for an online platform where tribal vendors can create virtual accounts, apply and renew annual Licensing / Compliance / Sales Tax application, as well as initiate web-based ACH payments for fees due to the tribal entities.

Owner and CFO, Ashwani Dhiman's vision was to provide an innovative solution to increase tribal revenues and resources through automation and analysis. In 2016 Red Rock partnered with Adapta Software for building of the online platform. In 2017 Red Rock partnered with Secure Payment Systems, a national leading payment processor to facilitate the payment processing module, and in late 2018, Red Rock partnered with the Minnesota American Indian Chamber of Commerce (MAICC) for developing the Purchasing Power Initiative (PPI) by harnessing the purchasing power of the 11 tribal nations of Minnesota. Red Rock continues to press forward with tribal nations across the entire U.S. and Canada for customizable automation projects related to vendor licensing, compliance, and tax collection.

For more information, please contact Scott Kanter at skanter@securepaymentsystems.com, 813.969.6919

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