VezoPay, the South African firm behind a battery-free tap-to-pay sensible ring, has quietly gone stay with Investec and Absa, taking its roster of banking companions to 4 in below a 12 months. A fifth main retail financial institution is anticipated to comply with earlier than the top of 2026.
Neither of the brand new launches has been introduced formally. Investec has been stay for about three months, and has begun advertising and marketing the product. Absa bank cards have been switched on just lately, with the financial institution planning a full shopper launch within the subsequent month or so constructed round an activation marketing campaign working into 2027.
The corporate, based by Jake Pinkus and Lawrence Baker, launched its first rings in July 2024. FNB and RMB Non-public Financial institution went stay on the finish of October final 12 months. Baker mentioned the majority of the expansion has come prior to now six months.
VezoPay says it has a ready listing of about 35 000 individuals whose banks usually are not but supported, a big share of them prospects of a big retail financial institution as a result of launch later this 12 months. That financial institution can’t but be named.
The Investec roll-out presents the clearest signal of demand to this point. The financial institution ran a reduction marketing campaign for personal purchasers — 20% on the entry-level ceramic ring and 30% on gold — and VezoPay recorded a whole lot of gross sales within the first few days, skewed unusually in direction of the premium fashions.
The founders say the constraint on progress is just not manufacturing or expertise however financial institution onboarding. Every establishment runs its personal inner governance and approval course of, adopted by a separate South African Reserve Financial institution sign-off.
Simplified
FNB’s approval took roughly 9 months, Pinkus mentioned; Investec’s took about 4. Necessities have tightened moderately than eased as the corporate has gained traction, with banks asking for penetration and stress testing and, in some circumstances, stay worldwide transactions to show that funds could be traced finish to finish.
The product line-up has been simplified since launch. The broader launch-edition band has been dropped in favour of a slimmer profile throughout the vary, which is now made up of three households: the X, a ceramic ring in black, white and pink; the Traditional, in brushed or polished chrome steel; and the gold Signature.
Learn: PayFast founder invests in VezoPay
Rose gold has been retired after proving divisive, with the founders holding it again for a potential restricted run. The gold ring has been reworked with extra bevelled edges after patrons complained it caught between the fingers, and has moved from 21-carat to 18-carat. Elevated manufacturing capability has introduced the gold worth down, whereas the ceramic and chrome steel fashions have gone up barely. Gold rings now ship with free engraving.
The ring carries a programmable NFC chip with no battery, so it by no means wants charging, and is waterproof, dustproof and shockproof. Fee credentials usually are not saved on the system: linking a card writes a one-time token, in the identical method a telephone pockets works. One financial institution card could be tokenised at a time.
As a result of the token sits on the cardboard rails, the ring inherits the issuer’s fraud controls — location and velocity checks, and a Pin immediate above R500 or at an unfamiliar service provider. A hoop could be locked from the app, and VezoPay has added an emergency Pin that lets a person freeze the system from any browser while not having their telephone.
Additional NFC features are in beta, together with a enterprise card, retailer loyalty playing cards and an emergency medical profile carrying blood kind, allergy symptoms and medical help particulars, readable by tapping any NFC-capable telephone.
Backers
The shareholder register has broadened significantly, too. Naspers South Africa CEO Phuti Mahanyele-Dabengwa invested early by way of the Three Birds group. Payfast founder Jonathan Smit got here in as investor and adviser in early 2025 and stays concerned.
The latest spherical introduced in Brandon Bekker and Paul Stafford, each former MDs of listed cybersecurity agency Mimecast, who now run funding and household workplace companies. Baker mentioned the Three Birds funding is now carried at a a number of of roughly 10 occasions its authentic worth, although the corporate has not disclosed the dimensions of any of the rounds.
Learn: Are financial institution playing cards residing on borrowed time?
Past South Africa, two banks in Mauritius are testing the product, with beta programmes below method in three different African markets. VezoPay says its relationships with Visa and Mastercard have opened doorways to issuers elsewhere on the continent. — © 2026 NewsCentral Media
