Mama Money, a South African fintech specializing in cross-border money transfers, has introduced a new bank card that enables users to manage their finances directly through WhatsApp. The card was launched in partnership with Access Bank and Pick n Pay.
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“The Mama Money Card addresses the challenges faced by millions of South Africans who encounter barriers to conventional banking services,” the company stated in a press release on Tuesday.
Through WhatsApp, cardholders can effortlessly manage their accounts. Features include the ability to buy airtime and electricity, deposit cash, check account balances, and instantly freeze the card if it’s lost or stolen.
The Mama Money Card also allows users to shop online, swipe in stores, withdraw cash from ATMs, and send money to over 70 countries worldwide.
“This initiative makes banking services more accessible to underserved communities,” Mama Money added. “Customers only need proof of identity, such as a passport, asylum document, or South African ID, to register for the card on their phone.”
Mathieu Coquillon, co-founder of Mama Money, noted the card’s growing demand, especially among employers who previously relied on cash payments, e-wallets, or shared bank accounts to pay staff.
“Each Mama Money Card comes with a unique account number, simplifying salary payments and giving cardholders full control over their finances,” Coquillon said.
Signing up is straightforward: customers can download the Mama Money app, complete the registration process in minutes, and collect their card from selected Pick n Pay stores in Johannesburg, Cape Town, or Durban.
The card costs R99 as a one-time fee, with a monthly fee of R25. For international money transfers, fees range up to 5% depending on the destination.
