Mama Money is a financial services company known for its innovative approach to money transfers, primarily focusing on making cross-border payments more accessible and affordable.
Founded in South Africa, Mama Money has been instrumental in helping individuals, particularly immigrants, to send money back to their families in their home countries easily and with lower fees compared to traditional banks.
As part of their continuous commitment to improving the accessibility of financial services, Mama Money is rolling out an innovative new banking product - the Mama Money Card.
"We've always sought ways to make financial services more accessible and tailored to the needs of our unique customer base," says Mathieu Coquillon, co-founder of Mama Money. "In collaboration with Access Bank, the Mama Money Card is breaking down barriers and making it easier for our customers to get their own bank service where all they need is a passport to register."
Access Bank offers a variety of services, including retail banking, corporate and investment banking, and digital banking solutions. The company is known for catering to both individual and corporate clients and serves its 40 million+ customers across twelve African countries, the UAE, and the UK, with representative offices in China, India and Lebanon. Access Bank's commitment to the accessibility of global banking made it a great partner with whom to launch the Mama Money card.
The introduction of the card product is more than just a banking service. "It's about giving people a leg up, both financially and systematically. It provides security, supports employment, promotes secure savings, enables low-cost remittances and ultimately improves the livelihoods of our customers," states Coquillon.
A challenge for migrant communities in South Africa is the shared nature of bank accounts, as many foreign nationals struggle with documentation barriers, such as proof of address, which is required to open accounts at all major banks.
Understanding that financial inclusion delivers opportunities for access to the formal and digital economy, the launch of the Mama Money Card is a testament to the company's commitment to providing essential services to migrant communities.
In addition, migrants carrying cash in South Africa face real security risks, some of which can be more pronounced as they are often perceived as being more likely to do so. As a result, they can become targets of theft, especially in areas known for high crime rates.
To get your hands on the Mama Money Card, download the Mama Money app and register with your passport in minutes.
The card costs R100 and is available at Pick n Pay stores, through Mama Money's network of over 2,000 agents, or via delivery to your nearest PEP store.
The Mama Money Card
The Mama Money Card is a new way to manage your finances with ease and security. This card offers a hassle-free solution to access and use your money, redefining convenience for all our users. Discover all the fantastic features and benefits of the Mama Money Card by visiting our detailed blog post. For any queries or more information, feel free to reach out to us directly on WhatsApp. Your financial management just got a whole lot easier with Mama Money!
Should you have any questions that are not covered above, please get in touch with Mama via WhatsApp at +27661041097.