Wednesday, August 10, 2022
Wednesday, August 10, 2022
Home Startups South Africa’s CallPay acquired at a Valuation of over $6.8m.

South Africa’s CallPay acquired at a Valuation of over $6.8m.

by Weddy Thuranira
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Callpay has been purchased by a global fintech company. The majority share sale was based on the company’s R100 million ($6.8 million) value, and it would raise an undisclosed amount of money to help speed the company’s growth.

According to a statement from Thomas, the startup seeks to continue solving integration issues on the African continent through partnerships with like-minded fintech companies.

“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 $1.4 billion for over 9,000 merchants,” Thomas said.

He concluded with a comment on how the startup has enabled some of the world’s largest enterprise merchants handle integration issues.

Its basic aim will continue the construction of a single API to handle numerous payment service providers and tender types, while also optimizing client online payments transactional end-to-end procedures to further satisfy clients internationally.

The company was founded in 2014 by two brothers, JP van der Spuy and Thomas van der Spuy, and it has since evolved, growing its product offering and capacity. This came after the company supplied a white-labeled telephonic payment mechanism at first.

The company claims to be the first payment service provider in Africa to achieve Level 1 compliance with the Card Industry Data Security Standards v3.1. The company focuses on offering payments solutions for merchants and the digital payment industry.

In 2017, the company partnered with Slide, a mobile payment software powered by PayPal’s Venmo service.

One of the company’s products is Express, which is a service that converts payments into pdf, email, and SMS, allowing merchants to receive payments without difficulties.

Thomas said the purchase will be revealed in the coming weeks, and for the time being, he will continue to lead Callpay’s partnerships.

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