Virtual Pay, a global payment and technology service provider, has announced the formal establishment of its headquarters in Mauritius. This move marks a significant milestone in Virtual Pay’s commitment to enhancing its global presence and strengthening its position as a key player in the payments industry.
The official launching ceremony was held in the presence of Mr Dhanesswurnath Thakoor, the Chief Executive of the Financial Services Commission (FSC), along with other distinguished guests, on Friday, November 17, at the Hennessy Park Hotel, Ebène.
(TOP: L-to-R – Chief Executive of Mauritius Financial Services Commission Dhanesswurnath Thakoor and Virtual Pay Group’s CEO David Morema).
The decision to establish its global headquarters in Mauritius is driven by the country’s robust regulatory framework, skilled workforce and proactive approach to fostering innovation and economic growth. Strategically located between Asia and Africa, Mauritius is a choice gateway for investment into Africa, and Virtual Pay aims to leverage this advantage to continue in its global growth strategy, entrenching itself as a key player in the global payment ecosystem.
David Morema, Virtual Pay Group CEO, shared his optimism, stating: “Mauritius presents a well-regulated and dynamic business landscape for financial technology innovation, and we are excited to establish our global headquarters in this vibrant market. Our primary goal is to empower businesses and their clients with seamless, secure, and efficient payment solutions.”
Dhanesswurnath Thakoor, Chief Executive of the Financial Services Commission (FSC), expressed enthusiasm about Virtual Pay Group’s choice of Mauritius as its Global Headquarters, stating: “We welcome Virtual Pay to Mauritius and commend their contribution to the growth and efficiency of the financial ecosystem. This strategic move is a testament to our country’s sound strategy when it comes to developing our financial services sector. We are more than ever committed to fostering technological advancements in this industry, whose growth potential is immense.”
Renganaden Padayachy, Minister of Finance, Planning, and Economic Development, Mauritius, said in a statement: “The Virtual Pay Group’s decision to establish its head office in Mauritius is proof of the confidence that our international financial centre inspires. It demonstrates that the measures implemented in recent years to strengthen our regulatory environment and stimulate innovation are bearing fruit. Based on our positioning, we can expect other companies of this calibre to choose Mauritius to set up their headquarters and manage their operations throughout Africa and beyond.”
The launch marks another milestone for Virtual Pay Group which has consistently demonstrated its commitment to providing innovative payment solutions to merchants on a global scale. The company expresses gratitude to its employees, clients, and stakeholders for their continued support and looks forward to a sustained business growth.
Virtual Pay Group is a payment and technology service provider with innovative payment solutions, offering a wide range of solutions that meet the evolving needs of businesses worldwide. The company is committed to expanding its global footprint and contributing to the evolution of the financial landscape. Virtual Pay is regulated in Mauritius by the Financial Services Commission, in Kenya by the Central Bank of Kenya, in Rwanda by the National Bank of Rwanda, in Tanzania by the Bank of Tanzania and in Dubai by the Department of Economy and Tourism.