Mama Money, a South African money transfer operator, has partnered with payment processor firm, Paymentology, and Access Bank to launch a new bank card service that integrates WhatsApp banking.
According to a post by the card-issuing firm, Paymentology, the Mama Money Card allows users to:
- Transfer payments internationally
- Buy electricity and airtime
- Download bank statements
- Check their balance and
- Manage their account
using Whatsapp.
“The Mama Money Card costs only R100 with R25 monthly fees. To apply for the Mama Money Card, register on the Mama Money App with either your passport or asylum document,” said Paymentology.
The WhatsApp-linked card makes it much easier for users than traditional banks which often require proof of address to get a bank card.
This is a key feature for Mama Money’s customers in South Africa who are mostly from countries such as Zimbabwe, Malawi, Ghana, Nigeria, India and many more, to easily get a bank card that gives them access to fundamental financial services and the ability to send money to over 70 countries worldwide.
Subscribers can also use advanced features through the WhatsApp app such as freezing their cards in the case of loss or theft.
“The Mama Money Card represents a significant step in empowering communities, particularly in aiding migrants. It provides a platform for secure employer payments, encourages savings, and ultimately contributes to the financial well-being of its users. By catering to the specific needs of a diverse customer base, Mama Money continues to dismantle financial barriers and promote inclusivity,” said Mathieu Coquillon, Co-Founder of Mama Money.
“In a nation where an estimated 4 million migrants reside with many not having access to essential financial services, initiatives such as this from Mama Money, powered by us, play a pivotal role in bridging the gap in financial inclusivity,” said Drisha Kirkman, Head of Programme Management and Sustainability at Paymentology.
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