Capitec Bank has announced the acquisition of digital payments platform Walletdoc in a deal valued at R400 million, marking one of the bank’s most strategic moves yet in its push to deepen its footprint in South Africa’s fast-growing fintech sector. The acquisition signals Capitec’s ambition to expand beyond traditional banking and position itself as a leading player in payments automation, bill settlement, and merchant solutions.
Walletdoc, founded in 2015, has built a reputation for simplifying payments for both consumers and businesses. Its platform allows users to pay bills, manage recurring payments, and make instant transactions through user-friendly digital tools. For businesses, Walletdoc offers automated invoicing, payment collection, and reconciliation solutions — features that have helped thousands of SMEs streamline operations and improve cash flow.
Capitec’s acquisition will see Walletdoc’s capabilities integrated into the bank’s digital ecosystem, enhancing offerings for both retail customers and business clients. The bank already serves more than 22 million customers and has been intensifying its focus on digital innovation, with its app becoming one of the most widely used financial apps in the country. Adding Walletdoc’s infrastructure gives Capitec an edge in the increasingly competitive space of digital payments and automation.
According to Capitec executives, the deal aligns with the bank’s strategy to simplify banking and improve financial accessibility. By integrating Walletdoc’s automated billing and payment technology, Capitec aims to help customers avoid late fees, improve budgeting, and access seamless financial management tools. For merchants, the partnership promises faster settlement times, lower transaction friction, and a broader suite of payment options.
Industry analysts say the acquisition underscores the growing importance of fintech partnerships in South African banking. As consumers shift rapidly toward digital channels, banks are increasingly acquiring or collaborating with fintechs to accelerate innovation and meet rising expectations for seamless financial experiences.
For Walletdoc, the acquisition offers the scale and customer reach needed to expand its services nationwide and potentially into new African markets. With Capitec’s backing, the platform is expected to introduce new features and deepen its merchant-facing capabilities.
The R400 million deal positions Capitec as a stronger competitor in the digital payments ecosystem — and marks a significant step forward in South Africa’s evolving fintech landscape
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