Direct Pay Online Group (DPO) has announced the acquisition of Virtual Card Services (VCS) South Africa. Earlier in 2017 DPO expanded into Botswana and Namibia through acquisition of VCS' subsI diaries in each of the Southern African countries.
“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,” said Eran Feinstein, CEO at DPO.
The acquisition of VCS' subsidiary in South Africa enhances DPO’s position in Southern Africa given also its previous acquisitions of PayThru and PayGate.
“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," said Offer Gat, Group Chairman at DPO.
VCS was established in South Africa in 1996 and expanded into Botswana in 2008 and Namibia in 2010. The payments echnology company develops and implements credit, debit and smart card processing systems for major card issuers in Southern Africa.
At the time of publishing the acquisition amount or details had not been disclosed.