Ozow is a leading South African fintech company providing secure, instant online payment services for businesses and consumers through its Pay by Bank and Bank API solutions. Formerly known as i-Pay, Ozow was established in 2014 and operates an online automated Electronic Funds Transfer (EFT) payment gateway that links businesses of all sizes in South Africa with 47 million bank account holders to transact simply and securely.
The company offers contactless, cashless, and cardless payment solutions, enabling millions of South Africans to make lightning-fast bank-to-bank payments with smart devices without needing a card. Ozow provides comprehensive payment options including QR codes, eCommerce, e-billing, payment links, and in-store payments, as well as payouts and refunds, delivering a convenient and seamless payment experience for customers. Consumers can use Ozow to make payments to or request refunds from thousands of businesses online or in-store, with transactions happening directly from their bank account through a simple four-step process: selecting Ozow as the payment option, choosing their bank (all 9 major South African banks are available), logging in to select their account, and accepting two-factor authentication.
Ozow is co-founded by Thomas Pays, Mitchan Adams, and Lyle Eckstein, with headquarters in Johannesburg and Cape Town, South Africa (Office 1401, 14th Floor, The Box, 9 Lower Burg Street, Cape Town 8000). The company offers easy integrations with platforms like Xero and Shopify, provides a simple pricing guide with no tiers or monthly recurring costs, and includes features like automated reconciliation, instant notifications, unique dashboard mapping for tracking business performance, and fully customizable API for pre-populating forms and reducing fraud. Ozow also powers Ozow.ME, a peer-to-peer payment service that allows users to instantly pay friends, relatives, and businesses using QR codes and payment links.
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