Wise Platform, the international payment division of Wise, has entered into a strategic partnership with Capitec, South Africa’s largest bank by customer base. This collaboration aims to facilitate seamless international payments for both individual and business customers directly from their Capitec accounts.
This partnership signifies Wise Platform’s first venture into the South African market. With over 25 million customers, representing more than half of South Africa’s adult population, Capitec focuses on delivering simple, transparent, and affordable domestic banking services. Through this partnership, cross-border transactions will be streamlined within the familiar Capitec account interface.
Infrastructure and Market Dynamics
Wise Platform relies on Wise’s global payments network, which currently holds 80 licenses and provides direct access to domestic payment systems in eight markets worldwide. This infrastructure ensures that 75% of transactions are processed within just 20 seconds.
The South African expansion follows the announcement of 13 new partnerships for Wise Platform globally in 2025, reflecting a trend among large banks to modernize their cross-border payment capabilities through integrated third-party solutions rather than lengthy internal development projects. The growing number of globally active individuals and businesses in South Africa highlights the increasing demand for international payment services that offer speed and transparency comparable to domestic transactions.
Speaking about the move, Kumeran Govender, Head of Forex at Capitec, emphasized that customers are increasingly operating across borders and expect international payments to be just as convenient and fast as everyday banking. Steve Naudé, Global Managing Director of Wise Platform, added that cross-border payments are becoming a core expectation for all financial services rather than an optional feature. This partnership illustrates how large banks can rapidly update their infrastructure without significant investment.
