By Drake Nyamugabwa
Direct Pay Online Group (DPO), a leading online payments processing solution in Africa; has announced the acquisition of Virtual Card Services (VCS)-South Africa, marking the completion of DPO’s purchase of VCS Group. Direct Pay Online plans to merge both VCS South Africa and Pay Thru, which it acquired last month, with Pay Gate, to create the leading Payments Service Provider in South Africa.
The Chief Executive Officer Direct Pay Online Group, Eran Feinstein, last week said; they aim to position themselves a leading service provider in Africa to service over 20,000 merchants who he says will benefit merchants including geographical exposer.
“We are excited to finally have VCS South Africa on board. By merging VCS & PayThru South Africa with PayGate, we will be able to position ourselves as the largest PSP in Africa serving over 20,000 merchants. With every acquisition we make, our merchants across the continent benefit by receiving an unparalleled offering of services and geographical exposure. I believe we are well on our way to providing one payment solution across Africa.”Eran said. Commenting on the investment, Offer Gat, the DPO Group Chairman, said that the acquisition of VCS has been long waiting. “We have been in talks with VCS South Africa regarding the acquisition for quite some time. The late CEO, Gordon Ashby, was instrumental to this deal and it is unfortunate that he is not present to witness its fulfilment. We hope to continue the legacy he built.”
The DPO Group is the leading payment service provider in Africa serving over 20,000 online merchants including over 50 airlines, thousands of hotels, travel agents, tour operators and other players in the e-commerce sector. Virtual Card Services (VCS) has over 20 years of experience in developing and implementing credit, debit and smart card processing systems for major card issuers in South Africa. DPO also has operations Kenya, Rwanda, Zanzibar, Tanzania, Ethiopia, Zambia, South Africa, Namibia and Botswana.