Mukuru Strengthens South African Remittance Network Through Strategic Travelex Partnership

Mukuru, a leading next-generation financial services platform, has partnered with Travelex, a global leader in foreign exchange services, to expand cash payout options for remittance customers across South Africa. The collaboration strengthens Mukuru’s ability to deliver safe, accessible, and convenient financial services to the millions of customers who rely on remittances to meet everyday needs.

Structured as a strategic alliance to broaden customer reach, the partnership introduces Travelex as an additional payout channel within Mukuru’s national network. Customers can now collect remitted funds at 46 Travelex branches nationwide, located in high-traffic, easily accessible areas. This expanded footprint reduces travel time, eases congestion, and improves access to cash for customers across the country.

The partnership is supported by South Africa’s robust Bureau de Change (BdC) regulatory framework, which ensures payout networks operate within strict security, liquidity, and compliance standards. As a licensed BdC operator, Travelex adheres to rigorous regulatory requirements, including on-site know-your-customer (KYC) processes, providing customers with a secure and trusted payout experience.

For customers, the benefits include faster access to cash, a wider choice of convenient locations, and increased reliability through trusted service points. For Mukuru, the agreement reduces reliance on single-channel payout options and supports the development of a more resilient and diversified remittance ecosystem.

“Mukuru has always focused on delivering meaningful financial solutions that improve our customers’ lives,” said Yemurai Chatapura, Commercial Manager – Remittances at Mukuru. “This partnership extends our reach while maintaining the highest standards of security, compliance, and service. It strengthens our payout network and reinforces our commitment to inclusive financial services across South Africa.”

Marlize Van Der Schyff, Financial Director at Travelex, added: “Tourvest Financial Services t/a Travelex is delighted to partner with Mukuru as we continue to expand our service offering. This collaboration reflects a strong alignment between our organisations, enabling us to deliver a seamless, secure, and future-ready experience for customers.”

The partnership underscores Mukuru’s ongoing commitment to affordable and accessible financial services, particularly for communities that depend on remittance inflows. Operating in more than 50 countries and serving millions of customers, Mukuru remains well positioned for continued growth and expansion across Africa.