Mukuru's remittance payout network in S. Africa enlarged by Travelex deal

Cash remitted from abroad to South African customers of money transfer company Mukuru can now be collected at branches of foreign exchange specialist Travelex in a major addition to Mukuru’s South African payout network in the country under an agreement between the two companies.

Remittances can be picked up at any of Travelex’s 46 branches in the country located in high-traffic, easily accessible areas, the APO Group news service said, citing Mukuru, a Cape Town-headquartered company with more than 17m customers in Africa, Asia and Europe.

On-site know-your-customer (KYC) procedures are provided, APO said.

Travelex, which is headquartered in London, is operated by South African tourism company Tourvest.