Mama Money, a prominent player in the African cross-border money transfer market, has partnered with Access Bank and Paymentology, two of the world’s largest banks and card issuers, to introduce a cutting-edge new bank card solution that is notable for its creative use of WhatsApp banking.
The Mama Money Card integrates with WhatsApp so you can use the data-friendly messaging app to manage your account, obtain bank statements, check your balance, make foreign payments, and purchase electricity and airtime.
With R25 in monthly fees, the Mama Money Card is merely R100. Use your passport or asylum papers to register on the Mama Money App in order to apply for the Mama Money Card.
Compared to traditional banks, which frequently demand evidence of address in order to issue bank cards, this makes things considerably simpler. One of the most important features for Mama Money’s clientele in South Africa is that it makes it simple for them to obtain a bank card that allows them to send money to more than 70 countries across the globe and access basic financial services. These customers are primarily from Zimbabwe, Malawi, Ghana, Nigeria, India, and many other countries.
The Secure and Innovative Mama Money Card Initiative
Additionally, the Mama Money Card has sophisticated security measures that enable you to immediately freeze the card through WhatsApp in the event of theft or loss thanks to Paymentology’s next-generation payment system.
Through the relationship, Mama Money has been able to take use of the latest technological advancements and accelerate market innovation while adhering to the strictest regulatory standards.
Co-founder of Mama Money Mathieu Coquillon highlights the importance of the collaboration, saying, “The Mama Money Card represents a significant step in empowering communities, particularly in aiding migrants.” It offers a platform for safe employer payments, promotes saving, and eventually helps users’ financial situation. Mama Money keeps breaking down barriers to inclusivity and money by meeting the unique demands of a varied clientele.
“At Paymentology, we are drawn to collaborating with businesses who uphold our fundamental principles. That is absolutely accurate regarding our collaboration with Mama Money, who are innovators in providing financial solutions that are accessible to everybody.
Initiatives like this one from Mama Money, sponsored by us, are crucial in closing the gap in financial inclusion in a country where an estimated 4 million migrants live and many of them lack access to basic financial services. Drisha Kirkman, Paymentology’s Head of Program Management and Sustainability, went on.
Access Bank, Paymentology, and Mama Money have shown their dedication to leveraging technology for good by introducing the Mama Money Card, which gives marginalized populations access to essential financial services.
