Ozow
Ozow is a South African fintech providing an automated EFT payment gateway that enables secure, cardless bank-to-bank transactions for merchants and consumers.
- Founded
- 2014
- Headquarters
- Johannesburg and Cape Town, South Africa
- Employees
- 150+
- Sector
- Fintech
About Ozow
Established in 2014 and formerly known as i-Pay, Ozow operates a payment platform that facilitates instant bank-to-bank transfers across South Africa. The company connects businesses with millions of bank account holders through a system that requires no card or separate registration, using existing internet banking profiles to complete transactions.
The fintech serves a diverse range of clients, from small businesses and NGOs to large enterprises, offering tools for eCommerce, e-billing, and in-store QR code payments. By utilizing Open Banking technology, Ozow provides a secure alternative to traditional credit card processing, focusing on reducing transaction friction and eliminating chargebacks for merchants.
What they do
Ozow provides an automated Electronic Funds Transfer (EFT) payment gateway that allows users to make cardless payments using their smart devices. The platform enables merchants to accept payments, issue refunds, and process payouts directly through customers' bank accounts.
Highlights
- Processed over R10 billion in total transactions by March 2020.
- Achieved a milestone of R1 billion in transactions processed in a single month during November 2020.
- Launched Ozapp, a web application allowing QR code payments without a physical card.
- Registered as a Third Party Payment Provider with the Payments Association of South Africa (PASA).
- Maintains a user base of over 6 million registered users and thousands of merchants.
- Complies with PCI DSS security standards and is Thawte certified.
Talent and hiring
The company employs over 150 staff members primarily in South Africa, with talent focused on digital payments, product ownership, and customer experience.
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