Mastercard and Bidvest Bank have joined forces to introduce Bidvest Bank BidSend, a solution that revolutionizes international remittances for South African customers. Powered by Mastercard’s cross-border services, this real-time payment network enables users to send money to over 103 countries, offering flexible payout options including cash, mobile wallet, or bank account.
“At Mastercard, we are committed to providing innovative solutions that meet the needs and expectations of South Africans. We are thrilled to collaborate with Bidvest Bank to bring this level of payment ingenuity to life, allowing Bidvest Bank customers to send money seamlessly and empowering millions of people from underserved communities to participate in the financial and digital economy,” remarked Gabriel Swanepoel, Country Manager at Mastercard, Southern Africa.
Bidvest Bank is poised to transform traditional remittance channels by offering affordable cross-border transactions to both account and non-account-bearing customers. “This groundbreaking partnership between Bidvest Bank and Mastercard marks the first time in Africa that WhatsApp has been enabled as a transactional channel. This innovative solution leverages cutting-edge technology to provide an affordable, accessible, and cost-effective remittance platform. By digitizing money remittance on the WhatsApp platform, we are not only revolutionizing the payments landscape in South Africa but also ensuring inclusivity by making the solution accessible to anyone, not just Bidvest Bank account holders,” stated Tendani Sikhwivhilu, Chief Financial Officer at Bidvest Bank.
Accessible through debit or credit cards, the platform offers lower fees compared to traditional methods, aligning with the evolving demands of customers in the dynamic payment landscape.
The launch of Bidvest Bank BidSend signifies a significant step forward in enhancing financial accessibility and empowering South Africans to send and receive money internationally with greater convenience, flexibility, and affordability.