Mama Money Financial Services, a fintech specialising in affordable money transfers, has introduced the Mama Money Card, allowing users to manage their accounts and finances via WhatsApp. This offering, in collaboration with Access Bank and Pick n Pay, aims to address barriers to traditional banking services faced by millions in South Africa.
With the Mama Money Card, customers can easily perform key banking tasks such as buying airtime or electricity, depositing cash, checking balances, and freezing the card if lost or stolen: all through WhatsApp.
The card also enables online shopping, in-store swiping, ATM withdrawals, and international money transfers to over 70 countries.
“The Mama Money Card is making it much easier for under-served communities to get their own bank service where all they need is proof of identity such as a passport, asylum document or South African ID to register for Mama Money on their phone. 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.
“We’ve seen big demand from employers who previously paid their staff in cash or via e-wallet or have issues with employees sharing bank account details. Each Mama Money Card comes with its own account number that makes it simple to pay salaries and gives cardholders full control of their money.”
To sign up, customers can download the Mama Money app, register in minutes, and collect their card at selected Pick n Pay stores in Johannesburg, Cape Town, or Durban.
“The Mama Money Card offers more than just a banking service. It provides security, supports employment, and promotes secure savings, improving the livelihoods of our customers,” Coquillon emphasises.
The card costs R99, with a monthly fee of R25 (waived for all new customers signing up in November). International money transfers incur a fee of 5% or less, depending on the destination.
“The Mama Money Card has significant potential to reach South Africa’s unbanked population,” Deven Moodley, Executive Head of Value-Added Services, Financial Services, and Mobile at Pick n Pay, said.
“With convenient access through WhatsApp, it removes barriers like physical bank branches or ATMs that often limit banking options. Given South Africa’s high cellphone and WhatsApp usage, this service makes essential banking and payment functions more accessible.
“Pick n Pay is proud to support this innovative, tailored solution through our extensive store network, bringing financial inclusion one step closer to everyone—something we have always promoted.”
This launch highlights the commitment of Mama Money and its partners to expanding financial inclusion, making it easier and more affordable for underserved communities to access essential banking services.
