Mastercard has partnered with Bidvest Bank to launch Bidvest Bank BidSend, a solution enabling customers to send international remittances conveniently.
This real-time payment network, powered by Mastercard cross-border services, allows users to send money to 103 countries, choosing payout options such as cash, mobile wallet, or bank account.
“Providing innovative solutions that deliver the choice, security, and flexibility that South Africans need and expect is a factor win we take pride in. MasterCard is delighted to collaborate with Bidvest Bank to make this level of payment ingenuity a reality for Bidvest Bank -customers allowing MasterCard to bring millions of people from underserved communities into the financial and digital economy,” says Gabriel Swanepoel, Country Manager at Mastercard, Southern Africa.
Bidvest Bank aims to revolutionize traditional remittance channels, offering affordable cross-border transactions to account and non-account-bearing consumers.
“For Bidvest Bank and Mastercard to be enabled through WhatsApp as a transactional channel, is a first for Africa. It leverages the latest technology to create an affordable and accessible solution that is cost-effective and efficient. By digitizing money remittance on the WhatsApp platform, we are changing the payments narrative in the country, and we are ensuring it is inclusive by allowing anyone to use the solution and not just Bidvest Bank account holders,” commented Tendani Sikhwivhilu, Chief Financial Officer at Bidvest Bank.
The platform, accessible through debit or credit cards, provides lower fees than traditional methods and aligns with evolving customer demands in the payment landscape.