Network International buys African payment service provider DPO
In a landmark deal for the African payments space, Network International has acquired 100 per cent of DPO Group, which will continue to operate under the same brand in existing territories. DPO companies PayGate, PayFast and SiD Secure EFT will continue to operate in South Africa as normal.
By acquiring DPO, which operates in 21 countries on the continent, Network International will increase its presence throughout Africa and new territories, one of the fastest growing payments markets in the world. DPO will soon launch a new, comprehensive payment solution, DPO Pay, for businesses in some of Network International’s territories and across Africa.
Eran Feinstein, CEO of DPO Group, commented: “This deal is a milestone for DPO and good news for the 60,000-plus active merchants using our platform. As part of the Network International group, we can support the business growth of our existing partners and of new merchants across Africa and the Middle East.
Being part of a globally recognised business will help us drive the global payments agenda, delivering cutting edge solutions to businesses and merchants across these markets.”
Nandan Mer, Chief Executive Officer of Network International commented: “I am delighted to welcome DPO to the Network family. DPO is a strong strategic fit with our business and the acquisition creates a unique combination of innovative online payments technologies, which will accelerate our growth whilst providing significant new capabilities for our established markets, including our customers and partners in the UAE.
We look forward to welcoming DPO’s colleagues into our group and working together to accelerate digital payments across the MEA region.”
Headquartered in Dubai and listed on the London Stock Exchange, Network International is a pan-regional provider of digital payment solutions, with a presence across the entire payments value chain, delivering integrated omnichannel payments services to its customers.
The acquisition of DPO Group will support Network International’s capabilities in Africa across online, mobile and alternative payments as well as providing merchant and MNO relationships and increasing the cross-selling opportunities to both DPO and Network International’s customers.