Mukuru Partners with Travelex to Expand Cash Payout Network in South Africa
Mukuru, a leading next-generation financial services platform, has entered into a strategic partnership with global foreign exchange provider Travelex to expand cash payout options for remittance customers across South Africa.
Under the alliance, Travelex has been added as a new payout channel within Mukuru’s network, allowing customers to collect their funds at any of Travelex’s 46 branches nationwide. These outlets are located in high-traffic and easily accessible areas, reducing travel time and improving convenience for customers who rely on remittances to meet everyday needs.
The partnership is supported by South Africa’s well-established Bureau de Change (BdC) regulatory framework, which ensures that payout networks operate securely and in line with national compliance standards. Travelex branches offer strong liquidity, strict regulatory adherence and on-site know-your-customer (KYC) processes, reinforcing transaction safety and customer trust.
Mukuru said the collaboration strengthens its payout infrastructure by reducing reliance on single-channel solutions and creating a more resilient and diversified ecosystem. Customers are expected to benefit from faster access to cash, a wider branch footprint and services delivered through trusted locations.
“Mukuru has always focused on building impactful financial solutions that improve our customers’ lives,” said Yemurai Chatapura, Commercial Manager – Remittances at Mukuru. “This partnership expands our reach while maintaining high standards of security, compliance and service, and reinforces our commitment to accessible and inclusive financial services across South Africa.”
Travelex also welcomed the alliance, describing it as a natural fit between the two organisations. Marlize Van Der Schyff, Financial Director at Travelex, said the partnership would enhance service offerings and deliver a more seamless and future-ready experience for customers.
With operations in more than 50 countries and a growing customer base across Africa and beyond, Mukuru said the partnership reflects its broader strategy to improve access to affordable financial services, particularly for communities that depend heavily on remittance inflows.
