Headquartered in Johannesburg with offices in Cape Town and Durban, Destiny Electronic Commerce provides secure payment technologies, services and solutions at the point of sale for Sub-Saharan Africa and the Indian Ocean Islands.
Destiny Electronic Commerce supplies and supports payment systems for banking, retail and petroleum, providing value-added services, estate management services and tools.
CSC’s EFTPOS development team provides a range of software applications that are adapted to ensure ongoing compliance with card industry specifications and standards.
VeriFone CEO Douglas Bergeron said South Africa is a very attractive market for VeriFone as the country has a highly developed infrastructure but also has the growth potential of an emerging economy. This acquisition will provide a base on which to expand VeriFone’s Africa business into the company’s next $100m market.
Financial terms were not disclosed.
The acquisition is expected to close this summer following customary regulatory review.
