Capitec buys Walletdoc in R400m deal to boost digital payments

Capitec Bank Holdings Limited has entered into a binding agreement to acquire 100% of Walletdoc Holdings Proprietary Limited, a South African fintech specialising in payment gateway solutions.

The acquisition, announced on 8 December 2025, is valued at up to R400 million and is subject to regulatory approval.

Read the sens here.

Capitec noted that the acquisition is a strategic step in its ongoing commitment to lower the cost of payments, broaden access to digital financial services, and promote financial inclusion in South Africa.

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The deal is seen as an important step in building a more inclusive and competitive payments ecosystem.

Deal structure and Walletdoc’s offering

The R400 million purchase consideration is structured in two parts:

• An immediate cash payment of R300 million (subject to customary adjustments); and
•  A deferred earn-out of R100 million, payable in cash over three years, linked to the Capitec share price and contingent on achieving certain milestones over that period.

Walletdoc, which was established in 2015, provides scalable, innovative payment gateway solutions for merchants.

These services include online and in-app payments, digital wallets, instant EFT, payment links, and real-time payouts. Capitec noted that Walletdoc’s culture of innovation, efficiency, and client focus is closely aligned with its core values.

Read:
Capitec’s offshore business Avafin is delivering
South African fintech is cooking [Feb 2018]

Vision for seamless payments

Capitec emphasised its belief in using innovative technology to deliver smart, seamless payment solutions that benefit both merchants and consumers.

This acquisition joins a list of high-profile moves by Capitec, including the 2019 acquisition of Mercantile Bank (now Capitec Business Banking).

Capitec share price

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