Private equity firm Actis LLP agreed to acquire Paycorp Holdings Pty Ltd., a payments business in South Africa , from Transaction Capital Ltd. for $95 million.

Paycorp is Actis’ fifth purchase in the payments industry in three years.

Paycorp, bought by Johannesburg-based Transaction Capital in 2006, provides business payment solutions and a non-bank card issuer. The company owns and operates roughly 5,000 automated teller machines (ATMs) in southern Africa. Among the company’s most notable clients are Standard Bank Group Ltd. and Barclays Africa Group Ltd.

Paycorp founder and chief executive Steven Kark will be co-investors, while Actis will be the majority shareholder.

Actis, with funds of $5.2 billion under management, typically invests in emerging markets, including countries in Africa, Asia and Latin America.

For more coverage on emerging markets, see our July cover story “10 Emerging Markets to Watch.”

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