South African fintech company Ozow raises R746 million — with Tencent as a lead investor
Ozow, which was started as i-Pay in 2014, has raised $48 million in a Series B funding round.
South Africans warned to stay away from Instant EFT
South African banks have supported a recent warning from the South African Reserve Bank (SARB), the Financial Sector Conduct Authority (FSCA), and the Payments Association of South Africa (PASA) regarding the risks of using instant electronic...
Instant EFT providers reply to bank disapproval
A number of South African banks recently provided feedback to MyBroadband regarding the risks of third-party EFT systems.
Absa, FNB, and Nedbank told MyBroadband that they do not approve of third-party instant EFT services which require customers...
The dangers of instant EFT services - South African banks explain
Sending money to others over EFT is a common action, but these transactions can take some time if you do not pay an additional fee for express payment.
To circumvent express fees and improve the transfer time of EFTs, many South...