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Mama Money partners with Access Bank and Paymentology

Monday 24 June 2024 15:47 CET | News

Mama Money has partnered with Access Bank and Paymentology to launch a new bank card service with the use of WhatsApp banking.  

 

As per the official announcement, through its integration with WhatsApp, the Mama Money Card is set to allow users to transfer payments internationally, buy electricity and airtime, download bank statements, check your balance and manage account via the platform.

The main aim of this partnership is to simplify the process of obtaining a bank card, unlike traditional banks that often require proof of address. This feature is crucial for Mama Money’s customers in South Africa, who predominantly come from countries such as Zimbabwe, Malawi, Ghana, Nigeria, India, and many others. It allows them to easily acquire a bank card, access essential financial services, and send money to over 70 countries worldwide. 


Mama Money has partnered with Access Bank and Paymentology to launch a new bank card service with the use of WhatsApp banking.

Through Paymentology’s next-generation payment solution, the Mama Money Card also offers advanced security features that allow you to instantly freeze the card through WhatsApp in case of loss or theft. The announcement continues to state that by embracing technology, the partnership has allowed Mama Money to fast-track innovation in the market while maintaining a high level of regulatory compliance. 

Officials from Paymentology stated that in a nation where about 4 million migrants reside with many not having access to essential financial services, initiatives such as this are importnat in bridging the gap in financial inclusivity. 

About Mama Money and Paymentology

Based in South Africa, Mama Money is a fintech company that aims to offer international money transfers and banking services through a free mobile application that can be downloaded from the Google Play or Apple App Store. Mama Money is a fast-growing money transfer operator with over 720,000 users and offers low fees and great exchange rates.  

By leveraging its solutions, Paymentology offers banks, fintechs, and telcos the technology, team, and knowledge to issue and process any type of physical or virtual card, including debit, prepaid, credit, and Buy Now, Pay Later (BNPL), among others. The company’s multi-cloud platform provides both shared and dedicated processing instances, extended global presence, and real-time data. Additionally, Paymentology is committed to increasing financial inclusion globally, and have a positive impact in the communities in which it operates. 

Source: Link


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Keywords: partnership, payments , mobile payments, financial services, financial inclusion
Categories: Banking & Fintech
Companies: Access Bank, Mama Money, Paymentology
Countries: South Africa
This article is part of category

Banking & Fintech

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Access Bank

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Mama Money

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Paymentology

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