Mama Money Partners Paymentology and Access Bank to Launch WhatsApp-Enabled Bank Card Service
Mama Money, a prominent African cross-border money transfer operator, has teamed up with Paymentology, a leading global issuer-processor, and Access Bank to introduce an innovative bank card service leveraging WhatsApp banking. The Mama Money Card, priced at R100 with a R25 monthly fee, exemplifies the company’s shared commitment to leveraging technology for social good by enhancing access to vital financial services for underserved communities.
This new card integrates seamlessly with WhatsApp, enabling users to conduct international money transfers, purchase electricity and airtime, download bank statements, check account balances, and manage their finances using the data-friendly messaging platform.
Mathieu Coquillon, co-founder of Mama Money, emphasises 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.”
This integration simplifies financial accessibility, especially for Mama Money’s customers in South Africa, who hail from countries such as Zimbabwe, Malawi, Ghana, Nigeria, and India. Unlike traditional banks, which often require proof of address for account setup, the Mama Money Card offers a hassle-free solution, empowering users to obtain a bank card easily and access essential financial services.
“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,” said Drisha Kirkman, head of programme management and sustainability at Paymentology.
Additionally, Paymentology’s advanced payment solution enhances the card’s security features, allowing users to instantly freeze their card via WhatsApp in case of loss or theft. This next-generation functionality ensures that users can manage their accounts securely and efficiently, reinforcing the collaboration’s goal to make financial services more accessible and secure for all.
Source; Fintech Times
