Direct Pay Online concludes acquisition of Virtual Card Services

Direct Pay Online Group (DPO) has 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.

The acquisition also further bolsters DPO’s leading position in Southern Africa following 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.

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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.”

DPO Group Chairman Offer Gat 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 fulfillment. We hope to continue the legacy he built.”