eZi Remit, Mastercard Partner to Expand Faster and Affordable Cross-Border Payments Across Africa

South African remittance fintech eZi Remit has partnered with Mastercard to strengthen cross-border money transfers, enabling eligible customers in South Africa to send funds to 25 countries through a faster, more secure and flexible digital payment solution.

The collaboration is powered by Mastercard Move, Mastercard’s global money movement platform, and is aimed at improving the speed, transparency and accessibility of international remittances. The service allows recipients to receive money through bank accounts, mobile wallets or cash collection points, depending on the destination market.

The launch covers key remittance corridors including Zimbabwe, Kenya, Ghana, India, Bangladesh, Saudi Arabia, Turkey, the United Arab Emirates, Mozambique, Malawi, Zambia and the Democratic Republic of Congo, among others.

The partnership targets migrant workers, underserved communities and major diaspora populations living in South Africa, where remittances remain a crucial source of income for millions of households. By connecting cash and digital payment ecosystems through retail and agent networks, the solution is designed to simplify international transfers while expanding access to formal financial services.

The companies said the platform supports secure, near real-time processing in supported corridors while improving transaction transparency and helping create a more interoperable payments ecosystem for cross-border financial flows.

The move comes as Africa continues to face some of the world’s highest remittance costs. According to World Bank data, sending money to Sub-Saharan Africa costs an average of 8.37% of the amount transferred, while traditional bank transfers can average 13.4%, making the region the most expensive globally for remittances.

By leveraging Mastercard’s global payments infrastructure, the collaboration seeks to reduce overall transaction costs, improve pricing transparency and increase the use of formal remittance channels, in line with global efforts to make cross-border payments more affordable.

“Through the collaboration with eZi Remit, we are enabling faster, more secure and more accessible cross-border payments for communities across Africa. By combining Mastercard Move’s money movement capabilities with eZi Remit’s digital reach, we are giving South Africans the speed, security and choice they need when sending money internationally.” said Gabriel Swanepoel, Division President for Africa at Mastercard.

Shaheed Farred, General Manager of eZi Remit, said the partnership addresses the financial challenges faced by migrant communities that regularly support families back home through remittances.

He added that by combining eZi Remit’s strong relationships with diaspora communities and Mastercard’s global payment network, it would enhance trust, transparency and acces to financial services for everyone.

Ultimately Mastercard Move enables financial institutions, businesses, fintechs and governments to send and receive money across more than 200 countries and territories in over 150 currencies, reaching nearly 17 billion endpoints and approximately 95% of the world’s banked population.

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