Mukuru, a leading financial services platform, has announced a strategic partnership with Travelex, a prominent foreign exchange service provider, to enhance cash payout options for remittance customers in South Africa. This collaboration allows Mukuru customers to access their funds at any of Travelex's 46 branches nationwide, which are strategically located in high-traffic areas for convenience and accessibility.
The partnership aims to provide a more extensive network for cash payouts, reducing travel time and congestion for customers. South Africa's Bureau de Change sector, known for its strong regulatory framework, supports this collaboration by ensuring secure and reliable transactions. Travelex's compliance with robust liquidity and KYC processes further enhances customer trust and security.
Yemurai Chatapura, Commercial Manager – Remittances at Mukuru, stated, “Mukuru has always focused on creating impactful financial solutions to improve our customers' lives. This partnership extends that reach whilst upholding high standards of security, compliance, and service.” Marlize Van Der Schyff, Financial Director at Travelex, added, “This partnership represents a natural alignment of strengths between our organisations. Together, we’ll bring customers a more powerful, seamless, and future-ready experience.”
The alliance not only expands Mukuru's payout network but also reduces its reliance on single-channel solutions, fostering a more resilient financial ecosystem. With operations in over 50 countries, Mukuru continues to grow its customer base and enhance its service offerings across the continent. This collaboration underscores Mukuru's commitment to providing accessible and affordable financial services, particularly for those reliant on remittance inflows.
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