eZi Remit and Mastercard expand South African remittances to 25 countries
eZi Remit, a South African remittance fintech, has entered a collaboration with Mastercard to expand cross-border payment services to 25 countries, according to an announcement reported on July 21. The service runs on Mastercard Move, the card network’s global money movement platform.
Destination 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 collect funds through bank accounts, mobile wallets or cash collection points, depending on the receiving market, the companies said.
High transfer costs remain a barrier to financial inclusion on the continent. Remittance fees in sub-Saharan Africa average about 8.37 percent, while traditional bank transfers cost an average of 13.4 percent, making the region the most expensive in the world for sending money, according to World Bank data cited in the announcement.
The partnership targets underserved and underbanked communities as well as diaspora populations living in South Africa, according to TechAfrica News. By linking retail and agent networks with digital channels, the companies said the service supports near real-time processing in supported corridors and improves pricing transparency.
Mastercard has built out several South African remittance partnerships in recent years, including a cross-border service with Bidvest Bank announced in December 2023 and the Globba product launched with FNB in November 2025, both also powered by Mastercard Move.
