First National Bank (FNB) has partnered with Mastercard to launch a new cross-border payment platform aimed at making international money transfers cheaper, faster, and more secure for South African customers. The announcement was made on Thursday in Johannesburg.
According to FNB CEO Jacques Celliers, the new service will allow users to send and receive funds across over 100 countries directly through FNB’s digital channels, using Mastercard’s global payment infrastructure. “This collaboration enables us to simplify global money movement for individuals and businesses, ensuring speed, transparency, and cost efficiency,” Celliers said.
Bloomberg reported that the partnership builds on Mastercard’s Cross-Border Services network, which facilitates seamless digital transactions between banks, fintechs, and mobile operators worldwide. The initiative aligns with South Africa’s growing demand for remittance solutions as the country strengthens trade and diaspora links across Africa and beyond.
Mark Elliott, Division President for Mastercard in Sub-Saharan Africa, added that the partnership reflects Mastercard’s commitment to advancing financial inclusion and digital innovation in the region. “Together with FNB, we’re transforming how people connect financially across borders,” he said.
Industry analysts say the move could position FNB as a regional leader in digital remittances, helping South Africa compete with emerging fintech platforms while supporting the central bank’s push toward efficient, transparent cross-border payments.
