Mama Money, a South African startup specializing in cross-border money transfers, has recently forged strategic partnerships with Access Bank and Paymentology, two renowned entities in the realms of banking and card issuance. The collaboration has led to the innovative launch of a banking card service that operates through WhatsApp, a popular messaging application.
The company, known for its rapid growth and expansive user base of over 720,000 individuals, provides international money transfer and banking solutions via a cost-free mobile app. Mama Money has distinguished itself as one of the most rapidly expanding money transfer services in the industry.
Leveraging the ubiquity and convenience of WhatsApp, the newly introduced Mama Money Card integrates seamlessly with the app, offering users a multitude of financial services. Customers can effortlessly conduct international money transfers, purchase electricity and airtime, download bank statements, monitor their account balances, and manage their accounts—all within the confines of the data-efficient messaging service.
This integration is particularly beneficial for Mama Money’s clientele in South Africa, many of whom hail from countries such as Zimbabwe, Malawi, Ghana, Nigeria, and India. The Mama Money Card provides these individuals with a straightforward means to obtain a bank card, unlocking access to essential financial services and enabling them to remit funds to over 70 countries across the globe.
Paymentology’s cutting-edge payment technology endows the Mama Money Card with robust security features. In the event of loss or theft, users can swiftly immobilize the card directly through WhatsApp, providing an added layer of protection.
Mathieu Coquillon, the co-founder of Mama Money, emphasized the transformative impact of the Mama Money Card. He highlighted its role in empowering communities, particularly migrants, by offering a secure platform for employer payments, fostering a culture of savings, and enhancing the overall financial health of its users. By addressing the unique financial needs of a diverse customer base, Mama Money is actively working to break down financial barriers and champion financial inclusivity.
