Direct Pay Online acquires Virtual Card Services South Africa
Direct Pay Online Group (DPO) has on Wednesday announced the acquisition of Virtual Card Services (VCS) South Africa.
This marks the completion of DPO’s purchase of VCS Group, post the earlier acquisition of VCS Namibia and VCS Botswana.
DPO said it 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.
Direct Pay Online Group CEO, Eran Feinstein said: “By merging VCS and 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.”
VCS South Africa serves thousands of merchants across South Africa including University of Johannesburg, Club Med, Capetown Cycle Tour, Tourvest, Getwine and Thompsons travel.
Direct Pay Online began its Southern African expansion by merging with PayGate in 2016. In March of this year, the group expanded into Botswana and Namibia with the acquisition of Virtual Card Services subsidiaries in both countries.
Last month, DPO announced the acquisition of PayThru South Africa.
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