4 days Ago By Nick Pawson
A groundbreaking digital banking solution is now available in South Africa, and offers cardholders an accessible way to manage their finances via WhatsApp. Mama Money Financial Services, a fintech known for its affordable money transfer services, has introduced the Mama Money Card in partnership with Access Bank and Pick n Pay. Mama Money cardholders will be able to manage their money and bank account through WhatsApp.
This innovative bank card addresses the challenges faced by millions in South Africans who struggle to open bank accounts and access traditional banking services. Mama Money services With WhatsApp integration , Mama Money customers can manage their accounts with ease. Services include purchasing airtime or electricity, checking balances, freezing the card if lost or stolen, and depositing cash.
Additionally, the card can be used to shop online, swipe in stores, withdraw cash from ATMs, and send money to over 70 countries . “The Mama Money Card is making it much easier for under-served communities to get their own bank service,” said Mathieu Coquillon , co-founder of Mama Money. To register for Mama Money on your phone, all you need is proof of identity.
This can be in the form of: “We’ve always sought ways to make financial services more accessible and tailored to the needs of our unique customer base,” Coquillon added. “We’ve seen a big demand from employers who previously paid their staff in cash or via e-wallet or have issues with employees sharing bank-account details.” “Each Mama Money Card comes with a unique account number that makes it simple to pay salaries and gives cardholders full control of their money.
” How to get the Mama Money Card To obtain the card, users can download the Mama Money app, complete the quick registration process, and collect their card at selected Pick n Pay stores in Johannesburg, Cape Town, or Durban. The card costs R99 upfront , with a monthly fee of R25 . To celebrate the launch, new customers purchasing the card from Pick n Pay in November will have their first monthly fee waived .
International money transfers meanwhile come at a competitive fee of 5% or less, depending on the destination. Reaching South Africa’s unbanked population The Mama Money Card aims to offer security , support savings, and enable anybody to participate in the digital economy in an affordable and accessible way. “With high cellphone and WhatsApp usage in South Africa, this card removes barriers like physical bank branches and ATMs, making banking accessible to everyone,” Coquillon noted.
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