About Oltio
Oltio is a Financial Services company based in Sandton (South Africa) founded in 2010, and was acquired by Ukheshe in November 2020. Authenticated mobile solutions for secure online payments are provided. Oltio offers products and services including Payment Processing, eCommerce Platform, Hosted Services, and Professional Services. Its focus areas include FinTech, Payments, Business Payments and Online Payments. Its competitors include Yoco and Ozow; 2 of its 2 listed competitors have raised funding.
Company details
Oltio is a joint venture of MTN and Standard Bank. It provides mobile-centric financial solutions to consumers allowing them to make online payments using their mobile as an ID. The product is called payID, the mobile authentication solution, where in the user once (first-time user) links their payment card on the payID portal; the card details are encrypted and store on SIM card. Thus, for any future transactions, the payer chooses payID as a payment option on merchant website, receive a text on the phone, enter the card PIN (ATM PIN) to authenticate payment. payD is also called as Mastercard mobile and allows customers to buy airtime directly from mobile network operators and allows transactions on e-commerce sites using Mastercards pin based products. It has more than 200 vendors on board.
- InvestorsMastercard
& 1 more
- Acquired by
Products & Services of Oltio
Oltio offers a comprehensive portfolio of products and services, including Payment Processing, eCommerce Platform, Hosted Services, and Professional Services.
Handles secure electronic payments and transaction management.
Enables affordable and flexible online shopping solutions.
Provides end-to-end hosted payment solutions with compliance.
Offers implementation and monitoring for payment systems.
Investors in Oltio
Oltio has secured backing from 2 investors, including institutional investors. Prominent investors backing the company include Mastercard and Ukheshe.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Global payments are processed via card network connections. | 1966 | mastercard.com | Purchase, United States | |
End-to-end electronic payment solutions, including hardware and software, are provided. | 2018 | ukheshe.com | Johannesburg, South Africa |
Investor details for Oltio
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Timeline of Oltio
3 dated milestones of Oltio across 10 years, from founding to its latest funding, stage changes and deals.
- Founded Oltio is founded.
- Exit Acquired by Mastercard.
- Exit Acquired by Ukheshe.
Competitors of Oltio
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| yoco.com | 2015 | Cape Town, South Africa | $102M | Payment processing solutions are offered to businesses and merchants. | ||
| ozow.com | 2005 | Johannesburg, South Africa | $48M | Payment processing solutions are provided for businesses and merchants. |
Detailed competitors of Oltio
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Web traffic of Oltio
Websites that share an audience with Oltio (oltio.com).
Websites whose visitors overlap most with Oltio. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| google.com | 100% | 85.8B | #1 | View details |
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Related news about Oltio
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Frequently Asked Questions about Oltio
Oltio was founded in 2010.
Oltio is headquartered in Sandton, South Africa. It is registered at Sandton, Gauteng, South Africa.
Oltio is a joint venture of MTN and Standard Bank. It provides mobile-centric financial solutions to consumers allowing them to make online payments using their mobile as an ID. The product is called payID, the mobile authentication solution, where in the user once (first-time user) links their payment card on the payID portal; the card details are encrypted and store on SIM card. Thus, for any future transactions, the payer chooses payID as a payment option on merchant website, receive a text on the phone, enter the card PIN (ATM PIN) to authenticate payment. payD is also called as Mastercard mobile and allows customers to buy airtime directly from mobile network operators and allows transactions on e-commerce sites using Mastercards pin based products. It has more than 200 vendors on board.
Oltio offers Payment Processing, eCommerce Platform, Hosted Services, and Professional Services.
Oltio has 2 investors. Key investors include Mastercard, and Ukheshe.
Yes. Oltio was acquired by Ukheshe in November 2020.