Africa has been playing a pivotal role in making a name for itself thanks to its potential in taking up new technologies, services, and product offerings that serve a broad range of needs.
Owing to the educated belief that the continent will serve as the next frontier for the use of technology services, companies, both global and Africa-based, have and are still pursuing several products and solutions for various tech-based market segments.
Obviously, payment services are some of the most popular products in this space. Several forms of remitting cash over the internet exist, and besides global companies that sell established systems in the continent, the continent hasn’t performed poorly as far as forking out unique payment products is concerned.
However, one feature remains uniform: most solutions are online-based, and are taking advantage of growing eCommerce services to expand their turf.
This is what DPO Group, an essential African Payment Service Provider (PSP) has been doing. News from the organization reveal that DPO has acquired PayFirst, one of the leading payment processors in South Africa.
DPO, which is based in Nairobi, executed the deal through a blend of cash and shares. PayFirst’s managerial team will remain critical shareholders in the new partnership. The transaction will also see DPO Group offer its services to more than 100K merchants across 18 African states.
What’s more, the acquisition will see the availability of DPO’s services on a single platform, which will then improve the capacity to do business in Africa, among other markets in the world.
“Through this acquisition, DPO Group aims to enable the growth of African businesses by offering its merchants a greater choice of payment services and providing them with all the necessary tools to make and receive payments effortlessly throughout Africa and internationally,” reads a statement from the organizations.