The Direct Pay Online Group, the online payments processor in East Africa, has merged with South African company PayGate to create a pan-African payment processor for online payments in 24 African countries
The pan-African payment processor created by the merger will provide local business owners with a single point of contact to accept online payments in 24 African countries, with PayGate supporting its clients’ expansion across East and Southern Africa. The merger will offer businesses access to more than 60 DPO Group employees across the continent to provide bespoke development solutions and customer support in their local language.
The merger follows a recent announcement Apis Partners of a US$7.3mn investment in the DPO Group - formerly known as 3G Direct Pay Limited.
Under the deal, DPO will create a new holding company in SA, to be held by both 3G Direct Pay and the current PayGate shareholders. This holding company will hold a 100 per cent shareholding in PayGate.
Speaking on the merger, PayGate managing director Peter Harvey said, “We are excited about the opportunity to partner with the DPO Group in building the market-leading payments processor in Africa. The merger is a landmark transaction for PayGate and a reward for our dedication to building the best-in-class platform and maintaining excellent customer service for our merchants. This is also an incredible opportunity to support our clients’ expansion across the African continent through additional on-the-ground coverage across the Group’s countries of operation.”