FNB–Mastercard unveil easy, low-cost cross-border payments

By Vriti Gothi

The new platform is designed to streamline the way customers send money to key African markets, including Zimbabwe, Malawi, Mozambique and Ghana. By integrating Mastercard’s global payment capabilities with FNB’s digital banking ecosystem, Globba provides a secure and frictionless channel for low-cost international transfers. The bank confirmed plans to extend the service further across its African network, reinforcing its ambition to create a unified, customer-centric remittance experience across the continent.

South Africa has placed improved cross-border transaction efficiency at the centre of its G20 priorities, particularly as global regulators work to meet the 2027 target for faster and cheaper international payments. The launch of Globba positions FNB and Mastercard as early contributors to this objective, offering a solution designed to enhance transparency, reduce transfer costs and remove long-standing barriers to financial inclusion.

As one of Africa’s most established financial institutions, FNB continues to strengthen its market position by advancing digital solutions that respond to the evolving needs of consumers and businesses. The introduction of Globba underscores the bank’s commitment to innovation and its role in shaping the future of cross-border financial connectivity across the continent.

First National Bank (FNB), one of South Africa’s leading retail banks and a subsidiary of FirstRand, today announced a significant step forward in continental payments modernisation with the launch of Globba, a new cross-border payments platform developed in collaboration with Mastercard. The initiative marks a strategic milestone in accelerating the digital transformation of remittance services across Africa, aligning with South Africa’s G20 agenda to promote faster, more transparent and more affordable international transactions.

The new platform is designed to streamline the way customers send money to key African markets, including Zimbabwe, Malawi, Mozambique and Ghana. By integrating Mastercard’s global payment capabilities with FNB’s digital banking ecosystem, Globba provides a secure and frictionless channel for low-cost international transfers. The bank confirmed plans to extend the service further across its African network, reinforcing its ambition to create a unified, customer-centric remittance experience across the continent..