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East Africa based online payments processor Direct Pay has acquired a majority stake in South Africa based online payment processor PayGate. PayGate was founded in 1999 and has more than 15 years of experience in providing payment processing and merchant services throughout Southern Africa. The company enables online payments through a variety of payment solutions in SA and beyond, and supports an array of digital payment methods.
Under the deal, DPO is creating a new holding company in SA, which will be held by both 3G Direct Pay and the current PayGate shareholders. This holding company will hold a 100% shareholding in PayGate. The headquarters of the group is in Ireland, while the pan-African office is in Nairobi. The Southern African HQ will remain in Cape Town. DPO is a payments processing solution with operations in Africa. It serves thousands of online merchants in Kenya, Uganda, Rwanda, Tanzania, Zanzibar and Zambia, including travel and tourism-related businesses in the region.
http://www.itweb.co.za/index.php?option=com_content&view=article&id=156261
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