Tech Titans Team Up to Streamline Payments
South Africa’s burgeoning digital landscape is set for a further revolution as fintech giants EBANX and Ozow join forces. This expanded strategic partnership aims to make online transactions smoother and faster, particularly for the country’s young and digitally adept population. The focus lies on supporting merchants who offer digital products and services, a sector experiencing explosive growth.
“We’ve long believed in the immense potential of the South African market,” says Wiza Jalakasi, Director of Africa Market Development at EBANX. “By combining EBANX’s cutting-edge payment solutions with Ozow’s expertise, we can provide a superior user experience and broaden the service offerings available. South Africa’s digital economy is on an exciting trajectory, and we’re thrilled to be a part of its evolution, leveraging technology to unlock new opportunities.”
Financial Inclusion Takes Center Stage
Ozow, a frontrunner in South Africa’s instant EFT payments, shares EBANX’s commitment to financial inclusivity. “Our mission has always been to empower everyone to participate in the digital economy,” explains Lyle Eckstein, Ozow’s Chief Product Officer and co-founder. “This partnership with EBANX is a game-changer. It opens doors for South African shoppers, allowing them to securely access a wider range of global brands through trusted solutions.”
A Continent Poised for Digital Takeoff
This collaboration comes at a pivotal time for South Africa. The country boasts one of the highest digital commerce penetration rates in Africa, currently at 47%. Experts predict this market will continue to surge, accelerating by 16% annually until 2026 (PCMI data, Beyond Borders study). This growth is mirrored across the continent, fueled by Africa’s young and tech-savvy demographics. With a median age of 18 compared to North America’s 38 and Europe’s 42 (data from the Beyond Borders study, United Nations), Africa presents a fertile ground for digital innovation.
