South African fintech company, Mama Money in partnership with Pick n Pay and Access Bank have launched a new bank card that can be managed entirely on WhatsApp, potentially addressing the millions that are unbanked in south Africa.
Customers who sign up for the Mama Money card can perform a variety of banking tasks directly through whatsApp, including:
- Checking account balances
- Buying airtime and electricity
- Depositing cash
- Freezing their card if lost or stolen
In addition to these features, the card can be used for online and in-store purchases, ATM withdrawals, and international money transfers to over 70 countries.
“The Mama Money Card is making it much easier for underserved communities to get their own bank service,” said Mathieu Coquillon, co-founder of Mama Money. “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.”
The card also offers benefits for employers, particularly those who have traditionally paid their staff in cash or faced challenges with employees sharing bank account details. Each card comes with its own account number, simplifying salary payments and giving cardholders greater control over their finances.
“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” added Coquillon .
Deven Moodley, Executive Head of Value-Added Services at Pick n Pay, emphasized the importance of this initiative, stating, “The Mama Money Card has significant potential to reach South Africa’s unbanked population. With convenient access through WhatsApp, it removes barriers that often limit banking options.”
The Mama Money Card is available at selected Pick n Pay stores in Johannesburg, Cape Town, and Durban. Customers can sign up through the Mama Money app and collect their card for a one-time fee of R99.
