Launch of Ozow to make shopping even easier with Instant EFT

Paying for online purchases is now easier than ever for South African consumers, thanks to the launch of Ozow Secure Payments, previously i-Pay Secure Payments.

All shoppers need to be able to shop online is a bank account linked to their online banking profile.

By selecting Ozow Secure Payments at checkout for purchases, consumers no longer need to rely on a credit or debit card to shop and can instead complete their purchases using their online savings and cheque accounts, or even access bond accounts if they wish.

“Instant EFT is easy and fast to use, offering shoppers an additional trusted payment option designed for their convenience. Once consumers experience the benefits of paying with Instant EFT, they’re bound to use it again and again,” said Ozow Chief Executive, Thomas Pays. “Paying via Instant EFT is just as secure as online banking.”

Pays explains that Ozow (formerly known as i-Pay) has carefully designed its new payment flow to help guide the consumer through login and account selection.

“Keeping customers’ personal and sensitive information private and secure is our biggest priority, and we fully understand the need for customers to feel protected at every step in the payment process,” said Pays.

He added, “This is why, more than ever, security certification is clearly displayed. The entire transaction is heavily encrypted, ensuring the safe and secure processing of each customer’s sensitive data”.

After logging on to the Ozow portal using your internet banking details, the relevant account, amount and reference details will be securely auto-filled by the Ozow team to speed up the process and prevent errors. Payments are then authenticated in-app or on your mobile devices via SMS or USSD Push notification.

Pays points out that, while lengthy card details can be difficult to recall, people are generally able to remember their internet banking login information much more easily. This makes instant EFT an efficient, accessible payment option for all shoppers.

“Without instant EFT, the shopping experience can be really cumbersome for consumers who choose not to use their credit or debit cards, or who do not have cards at all,” concluded Pays.

Ozow has plans to expand throughout Africa in the next few years with a launch in Mauritius and Ghana expected before the close of 2019. After that, the firm is eyeing a release in Nigeria and Kenya in 2020.

– Business Report Online

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