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

Published on Aug 18th, 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.

– End –

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

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