Leading online payments processor in Africa, the Direct Pay Online Group, (“DPO Group”) has announced the acquisition of South African online payment company, Virtual Card Service (“VCS”) in Botswana and Namibia.
Established in 1996, Virtual Card Service is one of the leaders in developing and implementing credit, debit and smart card processing systems for all major card issuer in Southern Africa.
The company’s solutions assist customers in transacting in a simple and secure online environment, whilst its unique ‘Virtual Vendor’ system provides vendor’s with an automated, electronic transaction system regardless of existing banking relationships.
The company expanded into Botswana in 2008 and Namibia in 2010.
“VCS Namibia and Botswana will complement the DPO Group in various areas including technology, expansion of the client base and growth in this geographical area,” said Eran Feinstein, the DPO Group CEO.
He added, “Our aim is to accelerate the intensification of payments in Africa, as we seek to empower every person and organization to have the option to pay and be paid online anywhere, anytime, and by any mode of payment.”
This acquisition will be closely followed by the acquisition of Virtual Card Service business in South Africa.
The acquisition of Virtual Card Service is DPO Group’s second investment in Southern Africa. The company acquired PayGate, the leading South African online payments processor, last year.
The combination of PayGate and VCS under the Direct Pay Online Group will provide a single contact point for merchants looking to accept payments across the continent.
These transactions will further enhance the position of the Direct Pay Online Group as the leading Pan-African online Payment Service Provider.