Introducing a New South African Bank Card: Effortlessly Manage Your Finances via WhatsApp
A revolutionary digital banking solution has launched in South Africa, providing cardholders with a user-friendly method to manage their finances via WhatsApp.
Mama Money Financial Services, a fintech recognized for its budget-friendly money transfer services, has rolled out the Mama Money Card in collaboration with Access Bank and Pick n Pay.
Mama Money cardholders can effortlessly oversee their finances and bank accounts through WhatsApp.
This cutting-edge bank card tackles the hurdles encountered by millions of South Africans who find it challenging to open bank accounts and utilize conventional banking services.
Mama Money Services
Thanks to the WhatsApp integration, Mama Money users can easily manage their accounts. Available features encompass purchasing airtime or electricity, verifying balances, freezing the card in cases of loss or theft, and depositing cash.
Additionally, the card can be utilized for online shopping, in-store purchases, ATM withdrawals, and sending money to over 70 nations.
“The Mama Money Card significantly enhances access to banking services for underserved communities,” stated Mathieu Coquillon, co-founder of Mama Money.
To register for Mama Money on your mobile device, you only need to provide proof of identity. Acceptable forms include:
- A South African ID
- A South African passport
- An asylum document
“We are committed to enhancing the accessibility of financial services, customizing them to suit the needs of our diverse clientele,” Coquillon added.
“We have seen substantial demand from employers who previously compensated their staff in cash or via e-wallets and encountered challenges with sharing bank account details.”
“Each Mama Money Card is paired with a unique account number, simplifying the salary payment process and giving cardholders full control over their finances.”
How to Get the Mama Money Card
To acquire the card, users should download the Mama Money app, complete a quick registration process, and collect their card from select Pick n Pay locations in Johannesburg, Cape Town, or Durban.
The card requires an initial payment of R99, along with a monthly fee of R25. To celebrate the launch, new customers buying the card at Pick n Pay in November will have their first monthly fee waived.
International money transfers are offered at a competitive fee of 5% or lower, depending on the destination.
Reaching South Africa’s Unbanked Population
The Mama Money Card aims to enhance security, promote savings, and allow everyone to participate in the digital economy in an affordable and inclusive manner.
“With the prevalent use of mobile phones and WhatsApp in South Africa, this card eliminates barriers such as the necessity to visit a physical bank branch or ATM, making banking attainable for everyone,” Coquillon emphasized.
Are Digital Banks Supplanting Traditional Banks in SA?
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