Africa-focused cross-border money transfer operator Mama Money partnered with payment processor firm Paymentology and Access Bank to launch a new bank card service that integrates WhatsApp banking.
In a statement, Paymentology explained the WhatsApp update enables Mama Money Card users to transfer internationally, pay for utilities and airtime, download bank statements, check balances and manage the account from the messaging app.
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 platform is used in South Africa by people who migrate from Zimbabwe, Malawi, Ghana, Nigeria and India among many. It provides banking services to individuals with no fixed address, and enables money transfers to 70 countries.
Mama Money Co-Founder, Mathieu Coquillon, said: “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.”
Paymentology Head of Programme Management and Sustainability, Drisha Kirkman, added: “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.”
