Tech in Africa
Johannesburg based Ozow has launched the #OzowRevolution with Ozapp and Ozow PIN. Millions of South Africans are yet to be digitally included in online electronic payments. Ozow believes they can provide a solution that is simple yet comprehensive that offers an alternative to cash payments.
Ozow is an automated and secure EFT solution that helps customers make payments in seconds. Merchants can transmit their payments through the following payment platforms; eCommerce, QR Code, eBilling, and Point-of-Sale (POS).
According to one of the company’s Linkedin posts, Ozow PIN is the world’s first one-click bank-to-bank payment solution that allows you to make payments without having to remember your banking details.
What makes Ozow so convenient is the fact;
- No card is required when making payments.
- Products are widely available
- Low transaction fees
- No startup fees or monthly costs
- No minimum charges helping them save money
- Transactions over R1m per month are free for the first year.
In an article shared on the Business Report online, Ozow co-founder-CEO, Thomas Pays, describes digital inclusion as one of the nation’s national priorities. He endorsed the 2019 McKinsey report that identifies cloud-based API architectures targeting the banking sector as a driving force for fintech – an area he believes Ozow can fill the gap.
In remarks shared by the BUSINESS WIRE, he says, “As a market-led company Ozow’s success has grown to see them capturing an entire market (representing over 70% of the instant EFT market in South Africa), from the heart of underprivileged townships and rural areas to the highest LSM. Users all note that the payment platform is a better, safer, and easier alternative to cards or a manual EFT payment.”
