Via the new partnership, Travelex becomes an additional payout channel within the Mukuru network, expanding cash payout options for remittance customers across South Africa to Travelex’s nationwide branches, strategically located in high-traffic, easily accessible areas.
Mukuru, one of Africa’s largest financial services platforms, serving more than 16 million customers with over 100 million transactions processed globally, has entered a strategic partnership with foreign exchange market leader Travelex to broaden cash payout access for its remittance users in South Africa.
Under the new partnership, Travelex’s 46 branches across South Africa have been added to the locations list as official Mukuru payout points, giving remittance beneficiaries more places from which they can collect their funds. These branches are strategically located in high-traffic, easily accessible urban centres, helping customers avoid long travel times and congestion while improving convenience and safety for cash pickups.
For Mukuru’s customers, the expanded network means faster, more reliable access to cash in trusted, local locations while reducing reliance on single-channel payout solutions. The partnership also strengthens Mukuru’s resilient and diversified payout ecosystem across the region — a key advantage as remittances continue to form a vital part of household income for many families.
Travelex’s participation, in turn, is expected to enhance its service offering by aligning its extensive branch footprint with Mukuru’s digital remittance platform, creating a more seamless experience for customers who send and receive money across borders.
In Africa as a whole, around one in five people depend at least “a little” on remittances, which significantly contribute to household finances. Meanwhile, in South Africa, besides international transfers, over 24 million people, or two-thirds of the adult population, send, receive, or both send and receive domestic remittances – money sent to family members or internal migrant friends within the country.
Mukuru, which operates in 50 + countries and supports a network of more than 320,000 pay-in and payout locations across Africa and beyond, provides affordable money transfers, digital wallets, cards, funeral cover, and other financial solutions designed to improve financial inclusion for emerging consumers. The company has established a substantial physical and digital footprint to serve individuals and businesses with accessible financial services.
Travelex, founded in 1976 and trusted by more than 37 million customers annually, is a global leader in foreign exchange, operating 600 + stores and 750 + ATMs in more than 20 countries. Its services include retail currency exchange, prepaid travel cards, remittance in select markets, and wholesale banknote supply, making it a well-known name for travellers and migrant communities worldwide.
