DPO Group payments service provider – everything you need to knowAugust 29, 2022
How DPO Group came about – a short history
The cofounders of DPO Group are Eran Feinstein and Offer Gat. The two started the digital payments company in 2006 after a Kenyan airline approached them to create an international payments gateway. This would enable the airline to receive payments from overseas visitors.
Even though they do not mention the airline, the only Kenyan airline that operates overseas beyond Africa is Kenya Airways.
Since then, DPO has grown to enlist over 60,000 merchants in more than 21 African countries, and 450 employees.
In 2020, Network International acquired 100 percent shareholding of DPO Group, but retained the brand name. This gave DPO an entry into the Middle Eastern market. Network International is based in Dubai and go entry into the African market.
Eran Feinstan was CEO of DPO Group from inception to November 2022, and was succeeded by Brendon Williamson. The later was at the time of his appointment the Regional Managing Director for Acquiring in South Africa.
“DPO would not be the company it is today without Eran’s drive and determination. Thanks to his tireless hard work, DPO made a series of smart acquisitions, including what was then one of the largest acquisitions by a PSP in 2019 when it bought PayFast in South Africa. That achievement is typical of how Eran has built DPO up: he is never afraid to take on difficult challenges, and I have learned so much from him over the last six years of working together,” Brendon Williamson said after his appointment.
Offer Gat remains chairman of the group.
Digital payments by DPO
DPO Group operates on the same premise as the likes of Cellulant it was among the very first digital payments service providers in Kenya but it is not clear why it only got a license in 2022.
Central Bank of Kenya had flagged several international PSPs for lacking licenses to operate in the country, in the wake of the FlutterWave scandal.
DPO Group makes it easy for merchants and companies to get paid by facilitating online payments, EFT, credit card and debit card payments.
It links shopping carts to banks and its platforms. It is therefore easier to pay for a service, let’s say a hotel booking, in another country using the service.
Some of the bans DPO works with in Kenya are KCB, Citibank, Eco Bank, Diamond Trust Bank, Equity Bank, ABSA and Stanbic Bank.
DPO enables payment in the local currency of the country they operate in. DPO operates in the following countries: Kenya, Uganda, Tanzania, Zambia, Rwanda, Ethiopia, Zimbabwe, South Africa, Namibia, Botswana, Lesotho, Eswatini, Malawi, Mauritius, Ghana, Nigeria, Cote D’Ivoire, DR Congo, Senegal.