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Ozow and Capitec: Better together
March 2, 2023Return to blog list
In collaboration with Capitec, we’re delighted to announce that Ozow is introducing Capitec Pay, the first payments API in South Africa, now available through Ozow's Pay by Bank platform.
This fundamental change to the payment system is aimed at enhancing the payment experience for our merchants and users. This means Capitec customers using Ozow get an experience that is even faster and more streamlined at checkout.
Capitec Pay is a first for South Africa, and we’re thrilled to be taking on the challenge in collaboration with Capitec. Historically, APIs have been used for all things on the internet, from measuring the movement of markets to reading tweets. But they also have the potential to revolutionise the South African payments landscape.
Globally, payment APIs have been used to power open banking initiatives. They've proven to be extremely effective and have empowered payments in the form of faster transactions, safer banking and better payment processes overall. Capitec Pay aims to bring these benefits to South Africa.
Our merchants will benefit from Capitec Pay in several ways:
Using Capitec Pay through Ozow's Pay by Bank means consumers no longer need to use their banking details. Capitec Pay identifies individuals using only their phone numbers, streamlining the payment flow.
After putting in their phone number they’ll be redirected to the Capitec app, where they can accept the payment via Capitec’s two-factor authentication, which maintains the security that customers have come to expect from us.
Capitec customers will benefit just as much as merchants from Capitec Pay. They’ll experience:
All underpinned by open banking and best practices.
Capitec Pay is here for all Capitec bank customers to enjoy; we look forward to the positive impact it may have on payments, on our merchants, and on their customers. This is just the first step toward a more open banking landscape in South Africa, and we’re excited to be at the forefront of it in collaboration with Capitec.
Here at Ozow we’re thrilled at working together with banking systems as a whole to drive greater financial inclusion, creating a simpler and safer payments ecosystem for everyone.
Enjoy the power of Capitec Pay through Ozow.