Fintech company Mukuru and Travelex plan to expand cash payout options for remittance customers across SA.
This, after the two organisations entered a “strategic alliance”.
Cape Town-based Mukuru was launched in the mid-2000s, enabling customers in the diaspora to send fuel and grocery vouchers back home via SMS. It later started offering money remittances, now providing financial services to over 13 million customers across Africa, Asia and Europe. Travelex serves as one of SA’s Bureau de Change operators.
In a statement, Mukuru says the partnership will enhance reach to more customers and introduce Travelex as an additional payout channel within the Mukuru network.
Customers will access funds at any of Travelex’s 46 nationwide branches, strategically located in high-traffic, easily accessible areas, it adds.
Yemurai Chatapura, commercial manager: remittances at Mukuru, comments: “This partnership extends reach while upholding high standards of security, compliance, and service. The collaboration strengthens our payout network and commitment to accessible, inclusive financial services across South Africa.”
Marlize Van Der Schyff, financial director at Travelex, adds, “Travelex is excited to partner with Mukuru as we continue expanding our service offering. This partnership represents a natural alignment of strengths between our organisations. Together, we’ll bring customers a more powerful, seamless, and future-ready experience.”
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