(Nigel Jared/Getty Images)
In a very slow day for corporate news, Absa announced a partnership with Cape Town fintech Ozow, which it says will allow for speedier and simpler payments, while Investec has a new solar rental offering. In international news, the EU has levied tariffs on Chinese EV imports of up to 38%, sparking concerns about a trade war.
SA’s fourth-largest bank by market value, Absa has partnered with Cape Town fintech Ozow to introduce Absa Pay, which it says provides faster and simpler payments for customers. Absa said the integration of the service with Ozow’s Instant EFT service would be advantageous as it will allow transactions to be completed in a “matter of seconds”, even as client credentials are handled by the bank. This entails being directed by from Ozow’s platform to Absa’s banking app to complete the transaction, and then back to Ozow, which the bank described in a statement as working “seamlessly”.
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