Picture: SUPPLIED
Picture: SUPPLIED

OzowCo-founder and head of R&D, Mitchan Adams, joins Andile Masuku and guest co-host and Lettuce co-founder Simon Dingle for this beefy flagship episode to discuss the current state of play in SA's digital payments processing scene.

Adams reveals why Ozow is actively recruiting and onboarding new hires right now and explains why the start-up is seeing a sharp spike in revenue even as the global Covid-19 crisis continues to unfold.

Listen in for actionable insight about SA's competitive financial services landscape, and learn why both Adams and Dingle hope that the country and some of its neighbours in the region will adopt open-banking regulation à la Europe's PSD2 dispensation sooner rather than later.

Adams is a software engineer who, prior to co-founding Ozow (formerly i-Pay) in 2014, worked at a stockbroking firm, developing and maintaining software that interfaced with JSE futures, stocks and bond markets. He also served a stint at Setcom, where his knack for online and card-based payment streams properly took root.

Join the conversation:

To skip all the introductory niceties, head straight to [12:52].

Questions discussed in this episode include:

1) How is Ozow coping with the mandatory national shutdown ordered by  President Cyril Ramaphosa? [12:52]

2) How might payments processors such as Ozow position for long-term success in a highly competitive and hugely commoditised digital payments landscape? [23:47]

3) Can open-banking-led fintech innovation offer the kind of system integrity, financial inclusion and efficiency that decentralised cryptocurrency proponents insist platforms such as bitcoin are perfectly positioned to deliver on? [30:57]

4) Is the obsession with building and maintaining walled gardens a prevalent dynamic within the SA financial services industry? [44:30]

5) How are mobile telcos shaping fintech innovation in SA? [47:28]

6) What unique challenges and opportunities are presented by regulatory frameworks? [53:04]

7) Is fintech start-up success possible in SA without subscribing to a VC-backed hyper-scale, hyper-growth strategy?   [1:08:44]

8) It which ways do Adams and Dingle anticipate the world will never be the same again once we recover from Covid-19 crisis? [1:21:05]

Resources referenced in this episode:

Coronavirus Stimulus Offered By House Financial Services Committee Creates New Digital Dollar by Jason Brett for Forbes