US-based Pushpay Holdings, an emerging player in mobile payment services, has bought up the assets of Reservoir Hill text service provider Run The Red.
Run The Red is a 12 year old company which integrates text messaging with core business applications. It presently delivers over 150 million targeted text messages per year for customers including Vodafone, Sky TV and Facebook.
Back in 2009, Run The Red worked with Kraft Haus Media on Reservoir Hill, the first NZ web-series supported under NZ On Air’s digital media fund, delivering the tech which enabled viewers to SMS with lead character Beth.
Reservoir Hill went on to win an International Digital Emmy Award in 2010. Run The Red and KHF Media also took home the Telecommunications Users Association of New Zealand (TUANZ) Innovation Award the same year.
Run The Red has also been noticed on the international stage, hence the sale. Pushpay wants Run The Red’s proprietary tech for its own expansion into developing the mobile payments market. Pushpay has a strong presence in the US not-for-profit and faith-based markets.
Run The Red will continue to trade under its current name in New Zealand with current CEO Ben Northrop remaining in post. Northrop called the sale “a huge opportunity for us and our clients … The convergence of text and mobile payments is inevitable. It’s not a question of if? The only question is when?”