Financial services platform Mukuru has entered a new partnership with Travelex to expand cash payout access for remittance customers across South Africa. The move strengthens Mukuru’s national distribution footprint at a time when demand for reliable, regulated cash services remains strong.
Expanding access through national reach
Through the agreement, Travelex’s 46 branches are now integrated into Mukuru’s payout network. These branches are located in high-footfall retail and travel hubs, giving customers more convenient collection points closer to where they live, work, or travel.
The expanded footprint is expected to reduce travel time for users and ease congestion at existing payout locations, particularly in busy urban centres.
Operating within a regulated framework
The partnership operates within South Africa’s tightly regulated Bureau de Change framework. Licensed BdC operators, including Travelex, are subject to strict compliance, liquidity, and reporting requirements.
In-branch know-your-customer checks form part of this framework, helping protect consumers, safeguard transactions, and maintain trust in cash-based financial services.
Strengthening inclusive financial services
“Mukuru has always focused on creating impactful financial solutions to improve our customers’ lives,” says Yemurai Chatapura, Commercial Manager – Remittances at Mukuru. “This partnership extends that 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.”
Aligning complementary strengths
According to Marlize Van Der Schyff, Financial Director at Travelex, the partnership reflects a natural strategic fit. “Tourvest Financial Services t/a 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.”
As cash access continues to play a critical role in South Africa’s remittance economy, the Mukuru and Travelex partnership positions both organisations to support scale, convenience, and compliance in a shifting financial landscape.
