Capitec Partners with Mama Money to Simplify Cross-Border Transfers Across Africa in 2025 -

Capitec & Mama Money Unite: Fast, Affordable Cross‑Border Payments Across Africa

Capitec Bank, South Africa’s largest based on customer numbers, has joined forces with Mama Money—a fintech leader in cross‑border transfers—to revolutionise how millions send money home across the continent.

Breaking Down Barriers to Affordable Remittances

The partnership aims to ease the financial burden on South Africa’s approximately 2.4 million migrants. By integrating Mama Money’s infrastructure within Capitec’s mobile banking platform, users can now send funds across national borders at much lower fees—starting around 5%—compared to traditional bank rates of 8–12%.

According to Capitec and Mama Money, transfers initiated within Capitec’s app can process in minutes instead of days, offering unprecedented speed and convenience.

How It Works: Seamless App-to-Cash Transfers

Eligible Capitec customers now see a “Cross‑border money transfer” option in the mobile app. From there, they select the Mama Money service—known as “universal Mama Money”—to send funds to mobile wallets or partner cash‑pickup locations across Africa. Once the transaction is submitted, recipients receive a 12‑digit token via SMS, which they use to collect cash at partner outlets in over 70 countries—with no local bank account required.

Benefits: Cost, Speed & Accessibility

Lower fees: Significant savings for low‑income migrants—e.g. sending R1,000 home may cost just R50 in fees versus R150 or more with other banks.
Rapid settlement: Transfers clear in minutes, making funds available almost instantly.
No recipient bank account required: Token‑based cash withdrawal works in cash‑heavy or unbanked regions.
Use Capitec’s existing setup: No need to download new apps—everything is processed through Capitec’s digital platform.

Why This Partnership Matters

Capitec brings scale: a broad customer base, digital reach, and trust in South Africa. Mama Money contributes its extensive remittance network across Africa, Asia and Europe—serving countries like Kenya, Lesotho, Malawi, Mozambique, Uganda, Zambia and Zimbabwe.

Together, they are addressing structural barriers: high fees, slow transfers, complex traditional banking requirements. The goal is inclusive financial services that respect migrants’ needs and cultural practices of supporting families across borders.

Real-World Impact: Empowering Individuals and Communities

Francois Viviers, Capitec’s group executive for Marketing and Communications, emphasised that many cannot afford steep remittance charges—meaning fees take money directly from basic needs like food and rent. For small income earners, reducing those fees can be life‑changing.

Meanwhile, Mama Money co‑founder Mathieu Coquillon praised the alignment of values: both firms believe in low‑cost financial services that uplift users rather than burden them financially.

Future Outlook & Expansion Potential

As competition among fintechs and banks intensifies, this alliance positions Capitec and Mama Money strongly within Africa’s remittance economy. With the potential to add more destination countries, expand payout points, and enhance service via digital wallets, there is opportunity for growth.

Summary

In short, this collaboration unleashes the power of digital banking and fintech innovation to transform cross‑border remittances in Africa:

Lower fees and faster transfers.
Integrated through Capitec’s trusted mobile app.
Token‑based collection removes need for recipient bank accounts.
Supports financial inclusion across the continent.

Conclusion

This partnership represents a strategic leap forward in democratizing financial services for Africa’s migrant communities. By combining Capitec’s scale and trust with Mama Money’s agile cross‑border payment platform, sending money home becomes faster, cheaper, and more accessible. The broader implication is clear: when banks and fintech collaborate thoughtfully, the result can unlock genuine financial inclusion, economic security, and upliftment for those who need it most.

For more news: https://africatrademonitor.com/

External Links: https://www.capitecbank.co.za/