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Mama Cash, considered one of Africa’s main cross-border cash switch operators, has joined forces with Entry Financial institution and Paymentology, world leaders in banking and card issuing, to launch a pioneering new financial institution card service that stands out for its revolutionary use of WhatsApp banking.
Via its integration with WhatsApp, the Mama Cash Card lets you switch funds internationally, purchase electrical energy and airtime, obtain financial institution statements, test your stability and handle your account utilizing the data-friendly messaging platform.
The Mama Cash Card prices solely R100 with R25 month-to-month charges. To use for the Mama Cash Card register on the Mama Cash App with both your passport or asylum doc.
This makes it a lot simpler than conventional banks that usually require proof of tackle to get a financial institution card. It is a key function for Mama Cash’s prospects in South Africa, who’re principally from nations similar to Zimbabwe, Malawi, Ghana, Nigeria, India and lots of extra, to simply get a financial institution card that provides them entry to basic monetary providers and the flexibility to ship cash to over 70 nations worldwide.
Via Paymentology’s next-generation fee answer, the Mama Cash Card additionally presents superior security measures that assist you to immediately freeze the cardboard by way of WhatsApp in case of loss or theft.
By embracing cutting-edge know-how, the partnership has allowed Mama Cash to fast-track innovation available in the market whereas sustaining the very best ranges of regulatory compliance.
Mathieu Coquillon, co-founder of Mama Cash, emphasizes the partnership’s influence: “The Mama Cash Card represents a big step in empowering communities, notably in aiding migrants. It offers a platform for safe employer funds, encourages financial savings, and finally contributes to the monetary well-being of its customers. By catering to the precise wants of a various buyer base, Mama Cash continues to dismantle monetary obstacles and promote inclusivity.”
“At Paymentology, we’re drawn to working with organisations that share our core values. That’s extremely true of our partnership with Mama Cash who’re trailblazers in delivering inclusive monetary options. In a nation the place an estimated 4 million migrants reside with many not getting access to important monetary providers, initiatives similar to this from Mama Cash, powered by us, play a pivotal position in bridging the hole in monetary inclusivity.” Drisha Kirkman, Head of Programme Administration and Sustainability at Paymentology continued.
By launching the Mama Cash Card, Entry Financial institution, Paymentology, and Mama Cash exhibit their dedication of utilizing tech for good that empowers underserved communities by way of entry to important monetary providers.
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