Wise Secures Conditional Approval in South Africa for Cross Border Payments
- Wise has received conditional approval from the South African Reserve Bank to operate in South Africa.
- This marks Wise's first entry into the African market, allowing it to offer international money transfer services.
- South Africa is a high-volume market for cross-border payments with strong digital adoption.
Bendada.com - Dec 1, 2025
Why Wise chose South Africa as its first African market
Wise, a digital remittance provider, has received regulatory approval to expand its operations into
Wise's entry into the South African market represents a significant opportunity for both the company and local consumers. By addressing high fees and inefficiencies in the remittance process, Wise could enhance financial inclusion and transparency in a market that has long been underserved. This move could also encourage competition among financial service providers, ultimately benefiting consumers.
