Ozow has become the latest payments provider in South Africa to accept payments in cryptocurrencies, indicating the growing acceptance of blockchain technologies in the mainstream economy.
Ozow’s payment platform, which is accepted by companies such as DStv, Zando, NetFlorist, HiFi Corp, Takealot, TFG and Dis-Chem, enables users to make online payments through a mobile browser or desktop without a credit card.
On Friday, the Cape Town-based payments company announced the official integration of cryptocurrency as a primary payment option on its platform.
Through a partnership with MoneyBadger, a local crypto payments provider, customers shopping online will be able to pay for goods directly from their crypto wallets, including Bitcoin Lightning and major exchange wallets such as Luno, VALR and Binance, with settlement in rand.
Blockchain, the technology that powers cryptocurrencies such as bitcoin, has until recently been regarded as fringe and associated with finance scams. But in recent years it has gained mainstream acceptance, driven in large part by big fund managers such as BlackRock.
Rising crypto integrations
Ozow’s move is part of a wave of crypto integrations announced in the past few months by legacy financial service houses and new fintech operators.
Most recently, Capitec signed a deal that enables its customers to fund Binance wallets through its banking app.
Earlier last month, Vodacom and Safaricom’s M-Pesa mobile money platform partnered with Abu Dhabi blockchain technology firm ADI Foundation to help grow its cross-border offering through stablecoin.
In October 2025, Absa signed a deal with payments infrastructure provider Ripple to provide digital asset custody services to its customers in South Africa.
Discovery Bank recently announced plans to add trading in more than 50 crypto assets in partnership with Luno, South Africa’s leading crypto platform.
Crypto trading platforms Binance and Luno have led the way in enabling consumers to pay for everyday items with cryptocurrencies.
In June, Luno reported more than R20m had been spent through its retail payments platform Luno Pay since its launch in November 2024.
Partnerships
Crypto payments through Luno Pay are processed by partner companies, including MoneyBadger, Zapper, Stitch and FiveWest.
Binance appears to be using the same playbook, leaning on similar partnerships to enable its service.
Ozow said merchants on its platform can enable the new crypto functionality without any additional integration.
As a further sweetener to its merchant base, the company said crypto processing “is often more cost-effective than traditional credit card fees, allowing businesses to preserve higher margins while offering a modern brand identity that aligns with global fintech trends”.
“By bridging the gap between digital assets and everyday utility, we are providing consumers with greater choice and flexibility in how they interact with the digital economy,” said Rachel Cowan, interim CEO of Ozow.
“For our merchants, this is about more than just a new payment method; it is about providing them with a frictionless gateway to a global, tech-forward market, ensuring that they remain at the forefront of the evolving financial landscape while maintaining the simplicity and security they expect from our ecosystem.
“This integration signals a major step toward the mainstream adoption of digital assets in the retail and e-commerce sectors,” said Cowan.
Would you like to comment on this article?
Sign up (it's quick and free) or sign in now.
Please read our Comment Policy before commenting.