Mukuru Expands Cash Payout Network Through Travelex Partnership

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

As part of the partnership, Travelex has been integrated as a new payout channel within Mukuru’s national network. Customers can now collect remittance funds at any of Travelex’s 46 branches across South Africa, many of which are located in high-traffic, easily accessible areas such as shopping centres and transport hubs. This broader footprint reduces travel time, eases congestion, and improves access to cash for customers who need fast and reliable payouts.

The alliance is underpinned by South Africa’s well-established Bureau de Change (BdC) regulatory framework, which ensures that foreign exchange and cash payout services operate within strict compliance and security standards. BdC operators such as Travelex maintain robust liquidity levels and adhere to stringent regulatory requirements, providing customers with confidence that transactions are conducted safely and transparently. On-site know-your-customer (KYC) processes further enhance customer protection and trust.

For Mukuru customers, the benefits are immediate and practical. The expanded payout network increases choice and convenience, while trusted Travelex locations ensure efficient access to cash when and where it is needed. From an operational perspective, the partnership also enables Mukuru to diversify its payout channels, reducing dependency on single-channel solutions and building a more resilient remittance ecosystem.

“Mukuru has always focused on delivering financial solutions that make a meaningful difference in our customers’ lives,” said Yemurai Chatapura, Commercial Manager – Remittances at Mukuru. “This partnership strengthens our payout network while maintaining high standards of security, compliance, and service. It reflects our continued commitment to inclusive and accessible financial services across South Africa.”

Marlize Van Der Schyff, Financial Director at Tourvest Financial Services t/a Travelex, said the partnership represents a strong alignment between the two organisations. “We are excited to partner with Mukuru as we expand our service offering. Together, we will deliver a seamless, future-ready experience that enhances value for customers.”

The collaboration reinforces Mukuru’s broader mission to improve access to affordable financial services, particularly for communities that depend on remittance inflows. Operating in more than 50 countries and serving a rapidly growing customer base, Mukuru remains well-positioned to scale its footprint and deepen financial inclusion across Africa.

//Staff writer