Mama Money Financial Services has launched a new bank card in South Africa that can be managed entirely through WhatsApp. Through a partnership with Access Bank Plc and Pick n Pay, Mama Money Financial Services is offering financial services to underserved communities.
The Mama Money Card, available at selected Pick n Pay stores in Johannesburg, Cape Town, and Durban for a one-time fee of R99 and a monthly fee of R25, allows customers to perform various banking functions including buying airtime or electricity, depositing cash, checking balances, shopping online, withdrawing from ATMs, and sending money to over 70 countries worldwide.
The initiative aims to overcome traditional banking barriers by requiring only proof of identity (passport, asylum document, or South African ID) for registration, focusing on serving employers who previously relied on cash payments or e-wallets.
As a launch promotion, new customers acquiring the card in November will receive their first monthly fee waived, with the company's co-founder Mathieu Coquillon emphasizing the card's potential to provide security, support employment, and promote secure savings while improving customer livelihoods through increased financial inclusion.
