• Ezeebit converts customer crypto payments into local currency settlements for merchants with no exposure to volatility.
• The platform processes payments by converting crypto to USDT instantly, then to South African rand (ZAR) for merchants.
• Ezeebit enables in-store and online crypto payments through POS systems, QR codes, and an API for e-commerce.

Daniel Katz’s initiative addresses a major barrier that still limits the adoption of digital payments in Africa. It enables merchants to access a new category of transactions while maintaining the stability of their operations.

Daniel Katz, a South African entrepreneur and co-founder and chief executive of Ezeebit, leads a start-up that allows African merchants to accept cryptocurrency payments while receiving settlements in local currency without any exposure to price swings in digital assets.

Ezeebit, founded in 2022, aims to make cryptocurrency payments as simple and secure as traditional transactions. The company seeks to create new growth channels for merchants by giving them access to customers who prefer to pay with digital assets, while ensuring that settlements remain stable in local currency.

The solution enables customers to pay with a wide range of cryptocurrencies, while merchants receive their settlement in South African rand (ZAR). Ezeebit eliminates the risk of market volatility by automatically converting the cryptocurrency paid into the stablecoin USDT at the moment of the transaction. The company then converts and transfers the equivalent amount in local currency to the merchant’s bank account.

In physical stores, the payment process works through an electronic point-of-sale terminal. Staff enter the amount in ZAR, select the blockchain network and the cryptocurrency, generate a QR code, scan it, and print the receipt. Merchants may also display a static QR code in the shop for customers to scan before selecting the amount, the cryptocurrency, and their wallet.

For online shops, Ezeebit offers a crypto payment gateway that lets merchants add digital asset settlement options to their e-commerce platforms. Ezeebit ensures next-day settlement in fiat currency through an API integration.

Before Ezeebit, Daniel Katz co-founded Delve Systems in 2019, where he served as chief technology officer until 2023. That start-up helps retailers and brands make data-driven decisions using real-time insights, forecasts, and predictive analytics.

Katz graduated from the University of the Witwatersrand, where he earned a bachelor’s degree in electrical engineering in 2019 before pursuing a master’s degree in the same field.

This article was initially published in French by Melchior Koba

Adapted in English by Ange Jason Quenum