Remittance fintech eZi Remit has partnered with MasterCard to expand cross-border payment services across 25 countries, enabling eligible South Africans to send international money transfers more quickly and with greater transparency.
The service is powered by MasterCard Move, the company's global money movement platform.
Target markets include Zimbabwe, India, Kenya, Ghana, Bangladesh, Saudi Arabia, Turkey, the United Arab Emirates, Mozambique, Malawi, Zambia and the Democratic Republic of Congo.
Recipients can receive funds through bank accounts, mobile wallets or cash collection points, depending on the destination market, the companies said.
The partnership comes as high remittance costs continue to constrain financial inclusion across Africa. According to the World Bank, remittance fees in sub-Saharan Africa average 8.37%, while traditional bank transfers cost an average of 13.4%, making the region the world's most expensive for sending money.
The companies said the partnership aims to simplify international money transfers, particularly for underserved communities and diaspora populations living in South Africa.
By combining MasterCard's global payments infrastructure with eZi Remit's digital platform, the service is designed to reduce transaction costs while improving pricing transparency, speed and reliability.
"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 solutions and eZi Remit's digital reach, we are enabling South Africans to move money securely and transparently, with the choice and speed they need," said Gabriel Swanepoel, division president, Africa at MasterCard.
Shaheed Farred, general manager of eZi Remit, added: "South Africa is home to one of the most diverse and dynamic migrant communities in the world—people who work hard, sacrifice daily, and send money home as an act of love and duty. For too long, that act has come at an unfair cost. Our collaboration with MasterCard aims to improve the equation significantly."
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