Direct​ ​Pay​ ​Online​ ​Group​ ​acquires​ ​Virtual​ ​CardServices​ ​(VCS)​ ​South​ ​Africa


Both VCS SA and PayThru will be merged with PayGate to create the leading Payments Service Provide (PSP) in South Africa.

Capetown, 1 August 2017 – Direct Pay Online Group (DPO) has today 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. Furthermore this
acquisition further bolsters DPO’s leading position in Southern Africa post its previous
acquisitions of PayThru and PayGate.

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 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: “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.”

Virtual Card Services was established in 1996 to offer a solution to the mail order market that
found conventional methods of securing large volumes of credit card payments cumbersome
and costly. The business rapidly grew by expanding its scope of services to organizations
requiring automated, high volume and secure credit card payment processing. Today, VCS
South Africa serves thousands of merchants across South Africa including University of
Johannesburg, Club Med, Capetown Cycle Tour, Tourvest, Getwine and Thompsons travel, all of
whom will continue to unmatched services and dedicated support.

Commenting on the investment, Offer Gat, the DPO Group Chairman said: “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.”

Last year, Direct Pay Online began its Southern African expansion by merging with PayGate
(Pty) Ltd, a leading online payments processor in South Africa with over 15 years of experience
and gateway integration to banks in 24 African markets. 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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About Direct Pay Online Group
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. We accept all major credit cards, mobile money and
e-wallets, and are a leader in technology, usability and security across the region. DPO uses the
most sophisticated fraud prevention system for online payments in Africa and holds PCI DSS
Level 1 Certification in 11 countries. The Group acquired PayGate South Africa in September
2016, VSC Namibia and Botswana in March 2017, PayThru South Africa in June 2017, and VCS
South Africa in August 2017. For more information please visit www.directpay.online,
www.paygate.co.za, website.vcs.co.za, or www.paythru.com

Media Contacts:

DPO Group
Kate Gathii
kate@directpay.online

Tell-Em Public Relations
Corazon Sefu Wandimi
corazon.sefu@tell-em-pr.com
+254723454137


 

Direct Pay Online Digest