DPO Group acquires payments processor PayFast

Tuesday 30 July 2019 13:21 CET | News

DPO Group has announced the acquisition of PayFast, a South Africa-based payment processor.

The deal was executed through a mix of shares and cash, with the PayFast management team remaining key shareholders in DPO Group. Following the transaction, DPO Group will be providing services to over 100,000 merchants across 18 African markets.

PayFast’s Instant EFT service provides consumers with an alternative for making online payments. The integration of PayFast into DPO’s services will increase the range of payment options available to DPO’s business customers, whilst providing a Pan-African solution to PayFast’s existing customer base. Moreover, all of the Group’s services will be available on a single platform to both DPO Group and PayFast merchants.

PayFast currently enables over 55,000 South African merchants to make payments and tackle new ecommerce opportunities. Through this acquisition, DPO Group aims to offer its merchants more choice of payment services and provide them with the necessary tools to make and receive payments throughout Africa and internationally.

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Keywords: DPO Group, payments processor, online payments, merchant, PayFast
Countries: World

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