FNB, Mastercard unite to advance Africa’s cross-border payments with launch of Globba

The launch of Globba, a groundbreaking cross-border payments platform powered by Mastercard Move and integrated into FNB and RMB Private Banking apps, has set a new benchmark for digital financial connectivity across Africa.

The collaboration between FNB and Mastercard aims to simplify, secure, and speed up the way South Africans send money abroad—bridging both local and international economies.

The new solution, unveiled in Johannesburg on Tuesday, supports transfers to more than 120 countries, reaching destinations via bank accounts, mobile wallets, or cash pickup locations.

It forms part of FNB’s wider strategy to enhance digital inclusion for underbanked and underserved communities while enabling seamless cross-border financial flows across key corridors like Zimbabwe, Malawi, Mozambique, and Ghana.

Following its successful rollout in South Africa, the partners plan to expand Globba across FNB’s African network, subject to regulatory approvals.

Lytania Johnson, CEO, FNB Personal Segment, said Globba represents a powerful platform for inclusion, speed, and transparency.

"Our customers are Pan-African and globally connected – they value efficiency, security and innovation,"Johnson said.

“Globba creates a global financial ecosystem, drives access without infrastructure, leverages data for empowerment, and fosters borderless collaboration among banks, fintechs, telcos, and governments.”

The collaboration between FNB and Mastercard is seen to mark a major step forward in advancing next-generation payment technologies aimed at making cross-border transactions as simple and affordable as local transfers.

Industry leaders noted that innovation in cross-border payments is crucial to unlocking intra-African trade and supporting the African Continental Free Trade Area (AfCFTA) objectives. Historically, high costs, complex regulations, and weak financial rails have constrained regional commerce.

Mastercard Move, which powers the new service, offers banks, non-bank financial institutions, and other partners fast and secure domestic and international transfer capabilities.

Its network spans over 200 countries and territories, supporting 150+ currencies and reaching more than 95% of the world’s banked population.

Cross-border payments are a lifeline for millions of Africans, supporting families and trade across borders. The launch comes as South Africa prepares to host the G20 Finance Track this month, where modernising cross-border payments will be a key focus area.

Sizwe Nxedlana, CEO of FNB Private Segment, added that Globba fills a critical gap in the bank’s payment ecosystem.

“Globba enhances what was a lagging capability in global payments. It’s not just about moving money—it’s about the trust, transparency, and financial access it unlocks for our customers,” Nxedlana explained.

With FNB’s trusted customer relationships and Mastercard’s global technology infrastructure, Globba positions South Africa at the forefront of cross-border innovation—driving financial inclusion and connecting the country’s consumers to the global digital economy.

Onur Kursun, executive vice president for commercial and payment flows, EEMEA at Mastercard, said cross-border payments are the cornerstone of Africa’s digital economy, connecting families, fuelling SMEs and supporting regional trade.

“With Mastercard Move’s innovative solutions, we’re empowering FNB customers with greater choice and flexibility in how they send money—locally and across borders,” Kursun said.

“This enhances transparency and builds confidence in cross-border transactions, ensuring South Africans can fully and securely participate in the digital economy.”

Tim Masela, head of the national payment system department at the South African Reserve Bank, said one of the biggest barriers to Africa’s growth has been the lack of efficient cross-border payment systems.

Masela said solutions like Globba and partnerships between banks, regulators, and fintechs is a fundamental shift toward inclusion, transparency, and affordability.

“I think the innovators need an enabling environment for them to innovate and offer products and services. And oftentimes, we are the ones that are assigned to be doing things like that. There could be areas of regulatory burden, where the regulators are too demanding and not proportionate, and are pulling in different directions,” Masela said.

“The challenge for us as regulators is to manage risk without slowing innovation. Each regulator has a different mandate, but we must work together to ensure products like Globba can scale responsibly while maintaining systemic stability. So the regulators need to come together, align their objectives, be proportionate to ensure that we manage the risk without over-delaying the system and ensure that products like this can lend and can have the desired effect.”

BUSINESS REPORT