Direct Pay Online acquires VCS South Africa

August 16, 2017 11:44 am1 commentViews: 16

pay onlineFrom MARIA MACHARIA in Nairobi, Kenya
NAIROBI  – DIRECT Pay Online Group (DPO) has announced the acquisition of Virtual Card Services (VCS) South Africa.
The value of the transaction was not disclosed.
This marks the completion of DPO’s purchase of VCS Group, following the earlier acquisition of VCS Namibia and VCS Botswana.
Furthermore this acquisition further bolsters DPO’s leading position in Southern Africa post its previous acquisitions of PayThru and PayGate.
“We are excited to finally have VCS South Africa on board,” said Direct Pay Online Group Chief Executive Officer, Eran Feinstein.
By merging VCS & PayThru South Africa with PayGate, the company will be able to position itself 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.”
Commenting on the investment, Offer Gat, the DPO Group Chairman, said they had been in talks with VCS South Africa regarding the acquisition.
“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,” Gat said.
DPO plans to merge both VCS SA and PayThru, which it acquired last month, with PayGate, to create the leading payments service provider in South Africa.

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