Cross Switch acquires 50% stake in Vantage Payment Systems.

Fuelling democratisation of payments in the Moroccan market with innovative, trustworthy, agile, simple, quality solutions.

Cross Switch and Equity Invest are pleased to announce that Cross Switch has acquired a 50% stake in Vantage Payment Systems.

Vantage Payment Systems (VPS), is a leading Moroccan fintech providing simple and secure online payment solutions. Since its establishment in 2014, VPS has acquired in-depth expertise in local payment methods in Morocco and the technology required to support its business. To meet the needs of its customers in the new digital age. VPS offers various multi-channel payment services to e-commerce merchants, e-Gov, and multiple customers in different sectors. It owns the brands Payzone and Payexpress and also manages a number of prepaid card programmes with different partners. (VPScorp.ma) (Payzone.ma).

As part of the transaction, VPS has raised its capital to 10 Million Dhs, has nominated Mr Mustapha Badr Ezzaman as Managing Director and its founder, Mr. Ali Bettahi, as President of its board. VPS has also nominated a new board with different members from the fintech industry with deep international experience.

Cross Switch Luxembourg (CSL), led by Tim Davis, is a pan-African focused fintech with extensive knowledge and experience managing payment systems across emerging markets. It has developed a state-of-the-art payments platform (CS+) and has acquired and established a number of African technology and payments businesses. CSL’s technology supports all payment methods utilised across the African continent. Enabling local and international merchants to send and receive monies within local markets, across Africa and into and out of Africa. CSL has been established in Benin, Egypt, Ghana, Kenya, Morocco, Nigeria and South Africa and is expanding rapidly across Africa through green field ventures, partnerships and acquisitions. www.Cross-Switch.com

Equity Invest (EI), is a Morocco based technology holding company which invests in leaders in their respective sectors at the forefront of technology. Providing innovative solutions to its clients from various sectors such as banking, industry, public institutions, defence, cities, and private companies. EI remains a 50% shareholder of VPS. In addition to VPS, EI also owns significant interests in different technology companies in different sectors: Fintech, energy, security and IT, and digital services. EI was founded by Mr. Ali Bettahi in 2014, and has ambitions to become a leading technology operator in Africa.