Direct Pay acquires Setcom, SA payments company

The Kenya-based Direct Pay Online (DPO) Group has acquired the South African Setcom, a company that operates instant electronic fund transfers.

The deal with Setcom is DPO’s sixth acquisition of southern African payment companies over recent years.

These deals are part of the payment and billing platform’s plans to expnd with e-commerce business owners who can accept additional payment options.

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“We are excited to add South Africa’s leading Instant EFT solution to our suite of products. Setcom has been a pioneer in the payments industry for many years, and we have no doubt that they will continue to bring new and innovative solutions to our customers and merchants across Africa,” commented Offer Gat, Group Chairman at DPO.

Acquiring Setcom will complement DPO’s suite of payment solutions across Africa, according to the company.

At current, its suite includes processing for all major cards, mobile money, and e-wallets.

The Chief Executive Office of DPO Group, Eran Feinstien, announced that the company had attained successful results within the South African market.

The company plans to expand across the continent, as well as doubling its footprint to 24 different countries.