Nabilah Safira
TechInAfrica – Ozow, a local digital payment platform, has announced that the platform processed more than R1 billion in transactions. Ozow states that low in transactions on Black Friday helped reach this number.
Of interest is that the single large transaction through Ozow was R500 000.
Ozow co-founder and chief executive officer Thomas Pays says that it is great to see how popular instant payment solutions have become. The ease of use and security of instant payment platforms has increased the number of users in South Africa. The appearance of digital payment also aims to lead the financial inclusion of the online shopping universe to people who don’t have debit or credit cards.
By 2020, eCommerce has become a critical thing in people’s lives. Lockdown has caused many South African to turn their way of shopping. Now, they turn into online shopping and delivery services to get essential items.
The point in 2020 is that eCommerce should be more accessible and services such as Ozow allow for that accessibility through instant EFT transfers. It means that each South African customer can shop retailers such as Takealot and Superbalist without a credit card.
When Ozow allows people who do not have debit or credit cards to pay online, it has drawn people into the mainstream economy.
The CEO concluded that it is not only transforming the commerce landscape but changing people’s lives. Hence, Ozow is so grateful to be part of the financial revolution in South Africa.
Source: Itnewsafrica.com
