On December 8, 2025, Capitec stated that it has reached an agreement to buy Walletdoc, a fintech business, for up to R400 million (approximately $23.52 million). With this strategy, Capitec is delving further into South Africa’s rapidly expanding payments ecosystem. The acquisition is a calculated move and indicates that, Capitec, the Stellenbosch-based bank’s goal to increase the scope of its digital payment services and reduce the cost of payments for its clients. It is contingent upon regulatory approval.
On Monday, the bank announced that it has reached a legally binding deal to purchase all of Walletdoc Holdings, the parent company of Walletdoc, a payments gateway expert. The agreement, which was reached on December 5th and is still pending regulatory approval, will grant Capitec complete ownership of the company, which was established in 2015 and is currently utilised by retailers around the country.
With features including online and in-app payments, digital wallets, instant EFT, payment linkages, and real-time payouts, Walletdoc offers a cutting-edge, scalable payments stack that complements Capitec’s multi-year drive into merchant services and digital payments. According to the bank, Walletdoc’s culture of “innovation, efficiency, and client focus” closely resembles its own.
Capitec will make an upfront cash payment of R300 million (approximately $17.64 million), with an additional R100 million (approximately $5.88 million) spread over three years as an earn-out that is contingent on performance benchmarks and correlated with the price of Capitec shares.
The acquisition is a further move in Capitec’s effort to diversify into related financial services areas, especially low-cost, high-volume payment infrastructure, in addition to its core retail banking business. In the face of increasing competition, the bank has made significant investments in its merchant solutions, commercial banking services, and digital channels in recent years.
The agreement, according to Capitec, advances its goals of “lowering the cost of payments, broadening access to digital financial services, and promoting financial inclusion” in South Africa.
In order to improve their digital ecosystems and advance financial inclusion, big banks in South Africa are purchasing fintech companies, which is a larger trend. By utilising Walletdoc’s technology, Capitec stated that its objective is to create a more competitive and inclusive payments ecosystem, and that new technologies would continue to be crucial in providing “smart, seamless payment solutions” to all of its clients.
On the day of the announcement, Capitec’s shares ended at R3982.09 (approximately $234.10) per share, with a market value of over R463.2 billion (approximately $27.23 billion).
The bank’s headline earnings increased by 26% to R8 billion (approximately $470,307,200 million) during the six months ending in August 2025, according to its strong financial results.
The agreement is viewed as a significant step in Capitec’s continuous effort to increase South Africans’ access to digital financial services.
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