THIS WEEK: DPO acquires South African firm VCS

Nairobi, Kenya | THIS WEEK |   Kenyan-based Direct Pay Online Group, an online payments processing solution in Africa, has acquired Virtual Card Services (VCS) South Africa.

VCS is said to have over 20 years of experience in developing and implementing credit, debit and smart card processing systems for major card issuers in Southern Africa.

The company that has operations in 10 countries across the continent including in Uganda, Kenya and Rwanda, however, did not disclose the value of the transaction.

Direct Pay Online Group CEO, Eran Feinstein, said they are excited with the new development as it will position them as the largest online payment solution on the continent serving over 20,000 merchants.

In Uganda, DPO is working with Airtel and MTN Uganda, and has also partnered with Equity Bank enabling the country’s businesses to offer safe and secure credit card processing to local customers as well as tourists who can pay online with credit cards, mobile money or bank transfers.