Direct Pay Online Group Acquires Setcom, SA Online EFT Solution Provider
Written by: MyPressportal Team Save to Instapaper
The Direct Pay Online Group (DPO) announces the acquisition of Setcom (Pty) Ltd, which operates SID Instant EFT, the original and leading instant electronic funds transfer (EFT) solution in South Africa. The deal will complement DPO’s comprehensive suite of payment solutions across the continent, which currently includes processing for all major cards, mobile money and e-wallets.
Commenting on the investment, Offer Gat, the DPO Group Chairman said: “We are excited to add South Africa’s leading Instant EFT solution to our suite of products, and look forward to working with Setcom’s innovative team, including the founder and instant EFT innovator David Liu. 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.”
Setcom began its operations in 1999 and has been providing secure online card processing to hundreds of South African online merchants since then. In 2007, the company launched SID Instant EFT, a secure payment product that allows real-time funds transfer from a customer’s to a merchant’s bank account through an efficient and easy-to-use online platform. SID has enabled merchants across South Africa to collect instant EFT payments via websites, email or invoices, and has become one of the most popular online payment methods in the country.
The acquisition of Setcom, and the subsequent incorporation of SID Instant EFT into the DPO product suite, will allow DPO to be the first Payment Service Provider (PSP) to offer merchants with a single solution for all their online payment needs, ensuring that through a single and simple integration, merchants will be able to accept payments through card, mobile money and EFT across the African continent.
Setcom founder, David Liu said: “Setcom’s goal has always been to help people buy and sell anywhere and at any time, a vision shared by the DPO Group. By joining together, we have no doubt that we will achieve this goal and create the leading payments platform in Africa.”
DPO Group CEO, Eran Feinstein said: “Setcom has continuously innovated and achieved impressive results in the South African payment space. We plan to expand and promote SID to all current and future merchants across our markets so that they may offer this payment option to their customers, further helping them to enhance their businesses.”
We submit and automate press releases distribution for a range of clients. Our platform brings in automation to 5 social media platforms with engaging hashtags. Our new platform The Pulse, allows premium PR Agencies to have access to our newsletter subscribers.
Latest from
- Project Flamingo Scales Up Breast Cancer Surgeries With 39 Procedures Across SA Hospitals on Mandela Day
- Mondi’s Rural Development Programme Powers FSC-Certified Timber Supply Through Small-Scale Growers
- BMR Report Offers Strategic Insight Into South Africa’s Consumer Trends Amid Policy and Economic Shifts
- Lebo Madiba Leads Conversation on PR as Catalyst for Connection on World PR Day 2025
- AI Developed for Industrial Safety Now Empowers Rangers With Real-Time Conservation Capabilities
- Government Bolsters Transnet With R94.8 Billion in New Guarantees to Safeguard Financial Resilience
- MDA Attorneys Warns Contractors of Hidden Risks in Bankable Construction Contracts With Investors
- World Hepatitis Day Puts Spotlight on Missed Testing Opportunities in South Africa’s Health System
- ACS Slams Acsa for Compromising Passenger Safety With Outdated Baggage Screening Systems
- FlyGabon Strengthens Africa Connectivity While Positioning Gabon as an Emerging Eco-Tourism Hotspot
- Southern Sun Commits to Clean Energy With Landmark 10-Year Deal Covering Seven Hotel Properties
- The Travel Group and CemAir Offer Interns Exclusive Industry Exposure on Durban Familiarisation Trip
- USEA Chief Executive Officer Mark W Menezes to Support Africa’s Energy Transformation at AEW 2025
- Safer South Africa Foundation Welcomes Major General Manci to Spearhead National Crime Prevention Strategy
- Mandela Day Cook-Off Sees Thousands Fed as Marriott Hotels and Chefs With Compassion Join Forces
The Pulse Latest Articles
- Liezel Van Der Westhuizen On Why Winter Workouts Feel Harder And How To Stay Consistent (July 28, 2025)
- From Eastern Cape To England: Zintle Mpupha’s Road To The Rugby World Cup (July 27, 2025)
- Athini Magodla Reveals Why Modern Refreshment Fuels Performance Over Perfection In Today’s Wellness Culture. (July 27, 2025)
- Why More Mums Are Choosing Less Sugar - Not No Sugar (July 27, 2025)
- Scaling Hospitality: How Jimmy Eracleous Runs Two Of Moo Moo’s Top-performing Franchise Restaurants (July 27, 2025)