Capitec has entered into a binding agreement to acquire 100% of fintech innovator Walletdoc.
The deal, valued at up to R400 million, signals a fierce new chapter in the competition for the country’s online and in-app transaction flows.
The bank announced today its agreement to acquire Walletdoc Holdings, subject to regulatory approvals.
Walletdoc, established in 2015, is a South African fintech providing scalable, innovative payment gateway solutions for merchants, including online and in-app payments, digital wallets, Instant EFT, payment links, and real-time payouts.
The acquisition is a direct challenge to traditional payment processors and a masterstroke in capturing the fast-growing e-commerce market.
Capitec highlighted that Walletdoc’s culture of innovation, efficiency, and client focus is closely aligned with its own core values.
“This acquisition is a strategic step in Capitec’s ongoing commitment to lower the cost of payments, broaden access to digital financial services, and promote financial inclusion in South Africa,” the announcement stated.
The financial structure of the deal includes an immediate cash payment of R300 million, with a further R100 million earn-out deferred over three years. This future payout is linked to the Capitec share price and contingent on Walletdoc hitting specific performance milestones, ensuring alignment post-acquisition.
The move is more than a simple asset purchase; it’s a declaration of intent. Capitec believes in the power of innovative technology to deliver smart, seamless payment solutions that benefit both merchants and consumers.
A Capitec spokesperson emphasized the broader vision, stating, “We are committed to making financial services more accessible and affordable for all South Africans, and we see this acquisition as an important step in building a more inclusive and competitive payments ecosystem.”
With this acquisition, Capitec is not just buying technology—it’s buying speed, agility, and a direct line into the merchant services arena. The integration promises to put formidable fintech tools into the hands of South Africa’s largest retail bank, potentially lowering transaction fees and accelerating the shift to a cashless society. The race for the future of payments has just gotten hotter.
