A Review of Betting with Ozow

Electronic Funds Transfer is a common terminology in today’s money transfer sector. Digital payment is an important milestone in financial transactions and electronic funds transfer is a concept incorporated in this sector. Since electronic funds transfer has penetrated the financial sector, it has become a useful milestone for financial technology companies such as Ozow. 

Previously referred to i-Pay, Ozow was established in 2014 and is currently headquartered in Johannesburg, South Africa. The company’s services apply to customers who have an internet banking profile, therefore, having a smartphone would come in handy when using the operator’s services. The company was co-founded by Thomas Pays, Mitchell Adams, and Lyle Eckstein. The aim was to penetrate the digital transfer marketing sector that is usable in many domains including betting. 

Most gamblers own smartphones, therefore, it would be easier to enjoy the company’s services when making payments such as deposits, betting, winning money, and withdrawing funds to your online banking platform. However, it is essential to understand the functionality of the operator before using its services to facilitate betting activities, for convenience purposes and safety of use. 

How Ozow works

South Africans select Ozow as a payment alternative that is listed under the instant EFT during customer online checkout processes and determine their preferred bank. Once the customer logs into their accounts using their internet banking details and selects an account to pay from, there is an automated procedure that will complete authentication of the access by the customer. Consequently, the bank will send a one-time password to the mobile user and account owner to verify the requested payment. Once the customer has been authorized to pay, the transaction is completed in real-time, and a notification is sent to the user to process the order. The whole system is smooth and streamlined therefore, you do not have to provide or send proof of payment or wait for the clearing of funds. 

Ozow is a digital payment platform that simplifies financial transactions for customers and merchants. The platform eliminates the tedious and long manual approach of transacting by reducing the time needed to transact to approximately 20 seconds. Unlike traditional digital payment systems, Ozow does not call for customers to register or neither does the company store a customer’s online banking login details. The operator is an automated proxy and leeway between a buyer and their bank for easy transaction processes. In addition, customers can easily access e-commerce services for people who do not prefer normal online transactions. This scenario is materialized by the idea that it does not require the buyer to have a credit card. 

Betting with Ozow

Since Ozow advocates for fast and secure transactions between banking entities, the feature has enhanced its penetration into the betting scene. Sometimes people may seem like they have run out of time to place bets and need a quick platform that would enhance their ability to transfer funds from their accounts into their online betting platforms. Ozow is one of the primary go-to options that guarantee quick deposits from your account to the respective betting site of your choice. 

To complete the transaction process and begin betting, the following procedure will provide a quick guide on how you can go about the Ozow betting process:

  • Ensure that you have an account with a betting site that supports Ozow’s services.
  • Ensure that you have Ozow credentials. 
  • Log in to your account.
  • Pick Ozow as your preferred payment method. 
  • After identifying this method, follow the procedure that is provided by the site, including the amount of money you would wish to use for betting. Sites may have slightly different procedures, therefore, be keen to follow and understand the directions provided. 

Betting sites that support Ozow

It is key to understand how this company provides services to users, however, it is equally important to know the betting sites that are compatible with the fintech’s services. The following betting operators will provide you with options to explore when transacting with Ozow:

Betway

Betway is one of the most popular betting sites not only in South Africa but Africa in General. The site has massive bonuses available for newly registered members, and competitive odds for players. This bookie offers some of the best odds in the market and has some of the most highly-rated customer reviews on betting platforms. To add to these advantages is the ability to support transactions via Ozow. You, therefore, do not have to worry about quick deposits and payment methods when exploring Betway because it has you covered by accommodating Ozow. 

Gbets

Gbets is another operator that appears on people’s top betting sites in South Africa because of its quality service provision. The variety of sporting events and go-to-market section is a consideration that drives massive numbers of sports fans and bettors to the operator. Of course, payment methods are a key contributor to attracting new customers as well as retaining existing ones. Gbets opted to diversify its payment options by incorporating Ozow as one of its primary alternatives for customers to use. You can therefore create an account with Gbets and start enjoying EFT experiences with betting. 

Hollywoodbets

This is another betting site that appears in the favorites list of many South Africa who actively engages in betting. The site has gained massive support from its over 20 years in the South African betting market, and continuously earned the respect of bettors alike. Customer retention is somewhat of a challenge in today’s betting market because, with the massive number of betting sites, companies have to go the extra mile of ensuring that their key needs are met. Payment methods are part of the backbone of a betting experience and with Hollywoodbets having added Ozow to the payment options, it makes the betting site one of the best betting options in South Africa. 

The safety of Ozow

It is crucial to understand that the company guarantees safety because the company is licensed by the Payments Association of South Africa as a Systems Operator and Third-Party Payments Provider. The company also abides by the Payment Card Industry Data Security Standard (PCI-DSS) Level 1 processes, which involve the set of requirements intended to ensure that all companies that process, store, or transmit credit card information maintain a secure environment.

The financial entity also ensures that customers’ payment and banking information are end-to-end encrypted, and the information is not stored unless the authorized personnel and owner provide permission to do that. There is also a two-factor authentication that authorizes payments, thereby making the services safe and convenient for all customers. Your betting activities will therefore be handled conveniently without fear of wrongfully losing money to malicious parties. 

Ozow app options

This financial technology company has scaled its operations to reach a massive audience in South Africa. This gradual but steady success ensured that the company explored the opportunities revolving around enhancing consumer appeal and flexibility of use. Therefore, the company has since formulated mobile phone apps for Android and iOS users to ensure that they do not have to search the organization’s website n the browser every time they need to obtain the fintech’s services. The app replicates the features found on the website and ensures that services are readily accessible, whenever people need to transact. The app’s user interface is simplified enough to match the urgency and convenience it promotes.  

The benefits and drawbacks of using Ozow

It would be fallacious to ascertain that a fintech company is entirely perfect and free of disadvantages. This applies to Ozow, whereby despite recommending its services for betting, users need to understand that there may be challenges associated with using the company’s services. 

Benefits of using Ozow

  • The service utilizes modern technology to ensure that payments are instantaneous. You therefore can deposit money into your account just before your favorite matches begin and start betting. 
  • The services are convenient because of the flexibility of use in terms of using apps and navigating the user interface. 
  • The services are easy to use and access because the instructions and directions are very straightforward for customers. 
  • The services are free; therefore, you do not incur extra costs which may inconvenience you in terms of the amount of money you wish to bet. 
  • There are no tedious processes involved to subscribe. Instead, the deposits are pretty straightforward. 

The drawbacks associated with Ozow betting

  • The fact that you provide a lot of personal information to them is risky. Remember, there have been instances where malicious parties infiltrate such entities and steal data for profitability. 
  • Not all betting sites support transactions with Ozow, which limits the extent to which players can enjoy the services. 

FAQs

What is Ozow?
How do I deposit money on Ozow?
Is Ozow safe when betting?
How do I withdraw from Ozow?

Andreas Aalmers is responsible for all content on BettingGuide ZA. He has prior experience as a math teacher and plays poker professionally when not writing for BettingGuide. Please contact him for any inquiries regarding gambling in South Africa.

Last updated: 11/9/2022