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In January 2015, the Commonwealth Bank of Australia (CBA) acquired 100% of TYME. This acquisition is a logical continuation of CBA's strategy to pursue capability led growth outside Australia and one that reinforces CBA's core strength in innovation and technology. There is a natural alignment starting with TYME's vision of financial inclusion and CBA's vision to excel at securing and enhancing the financial wellbeing of people, businesses and communities.
CBA's Chief Executive Officer, Ian Narev said: "The strength of our business enables us to invest for the long term. We bought new capability, through the acquisition of TYME, a South African based global leader in designing, building and operating digital banking systems. TYME gives us new opportunities in our emerging markets footprint, as well as providing capability to enhance innovation in our core markets.”
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Money Transfer, in partnership with Pick n Pay and Boxer, is a simple point to point money transfer system.
Since May 2016, Money Transfer has been helping customers send money to family and friends throughout South Africa.
Money Transfer is unique in that our services are completely interoperable across Pick n Pay and Boxer, ensuring our customers can get their cash into the hands of family and friends wherever they may be.