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Mama Money debuts WhatsApp payment card

Source: Paymentology

Paymentology the leading next-gen global issuer-processor, today announces its partnership with Mama Money, one of Africa’s leading cross-border money transfer operators, and Access Bank, to launch a pioneering new bank card service that stands out for its innovative use of WhatsApp banking.

Through its integration with WhatsApp, the Mama Money Card allows you to transfer payments internationally, buy electricity and airtime, download bank statements, check your balance and manage your account using the data-friendly messaging platform.

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.

This makes it much easier than traditional banks that 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.

Through Paymentology’s next-generation payment solution, the Mama Money Card also offers advanced security features that allow you to instantly freeze the card through WhatsApp in case of loss or theft.

By embracing cutting-edge technology, the partnership has allowed Mama Money to fast-track innovation in the market while maintaining the highest levels of regulatory compliance.

Mathieu Coquillon, co-founder of Mama Money, emphasizes the partnership’s impact: “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.”

"At Paymentology, we are drawn to working with organisations that share our core values. That is incredibly true of our partnership with Mama Money who are trailblazers in delivering inclusive financial solutions. 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." Drisha Kirkman, Head of Programme Management and Sustainability at Paymentology continued.

By launching the Mama Money Card, Access Bank, Paymentology, and Mama Money demonstrate their commitment of using tech for good that empowers underserved communities through access to critical financial services.

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