A worldwide fintech provider has purchased Callpay. The sale of majority shares was based on the company’s valuation of more than R100 million ($6.8m), and it would raise an unknown investment amount to help accelerate the company’s growth.
“At the beginning of our journey, the Callpay team set out to make online transacting safe, secure, cost-effective, and efficient across multiple channels and to date, we have processed more than R20bn for over 9,000 merchants” comments head of partnerships at Callpay South Africa, Thomas van der Spuy.
“Seven years later, we have solved integration problems for some of the largest enterprise merchants by creating a single API to accommodate multiple payment service providers and tender types by optimising client online payments transactional end-to-end processes. This will remain our core mission, with ‘business as usual’ for our valued clients and by joining forces with a like-minded company as passionate as we are, we have gained new resources and capabilities to continue driving value for our clients around the world” says van der Spuy.
Callpay claims to be the first payment service provider in the world to achieve Level 1 PCI-DSS v3 compliance and the first in Africa to obtain Level 1 Payment Card Industry Data Security Standards v3.2 compliant Service Provider status. It was founded in 2014.
The buyer will be announced in the coming weeks by Callpay.
Callpay
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer