Wise Platform, the global payments infrastructure arm of Wise, has partnered with Capitec to support the South African bank’s international payments offering.

Capitec has built its business around simplicity, transparency and affordability.

Through the partnership, the bank will extend these principles to cross-border payments, enabling individuals and businesses to send money internationally directly from their accounts with faster processing times and lower costs.

The agreement also marks Wise Platform’s entry into South Africa, following a year in which it announced 13 new global partnerships as financial institutions seek to modernise cross-border payment capabilities.

Kumeran Govender, Head of Forex at Capitec, said:

“At Capitec, we’re focused on making banking simpler, more transparent, and more affordable. Wise Platform shares our ethos, making them a natural partner. Working together will enable us to deliver a reliable, enhanced cross-border experience that meets those expectations.”

Steve Naudé, Global Managing Director of Wise Platform, said:

“Customers are increasingly willing to move to providers that deliver a seamless experience, and Capitec is a strong example of a bank taking action early to stay competitive. Our partnership demonstrates how large-scale banks can modernise their cross-border infrastructure quickly, without needing to wait for multi-year transformation programmes.”

Wise Platform operates through Wise’s global payments network, which includes around 80 licenses and direct connections to domestic payment systems in eight markets.

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