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South Africa Fintech, Mama Money, Launches a WhatsApp-Linked Card for Remittances and Payments The WhatsApp-linked card makes it much easier for users than traditional banks which often require proof of address to get a bank card. This is a key feature for Mama Money’s customers in South Africa who are mostly from countries such as #Zimbabwe, #Malawi, #Ghana, #Nigeria, #India, and many more, to easily get a bank card that gives them access to fundamental financial services and the ability to send money to over 70 countries worldwide. Subscribers can also use advanced features through the WhatsApp app such as freezing their cards in the case of loss or theft. Paymentology, Access Bank Plc https://lnkd.in/dW7J7RRg

Mama Money, a South African international money transfer service, has partnered with Access Bank Plc and Paymentology to launch a WhatsApp-powered bank card. “Through its integration with WhatsApp, the Mama Money Card allows users to transfer payments internationally, buy electricity and airtime, download bank statements, check their balance and manage their account using the data-friendly messaging platform. “This allows Mama Money’s customers in South Africa, who are mostly from countries such as Zimbabwe, Malawi, Ghana, Nigeria and India, to easily get a bank card that gives them access to fundamental financial services and the ability to send money to over 70 countries worldwide.” Via Disrupt Africa. https://lnkd.in/dSF2WS4G #fintech #financialservices #payments #crossborderpayments #moneytransfer

++ Mama Money Launches WhatsApp Bank Card for Easier Financial Access in South Africa ++ Paymentology, the leading next-gen global issuer-processor, has announced its partnership with Mama Money, one of Africa’s leading cross-border money transfer operators, and Access Bank, to launch a pioneering new bank card service that stands out for its innovative use of WhatsApp banking.  "The Mama Money Card represents a significant step in empowering communities, particularly in aiding migrants. It provides a platform for secure employer payments, encourages savings, and ultimately contributes to the financial well-being of its users. By catering to the specific needs of a diverse customer base, Mama Money continues to dismantle financial barriers and promote inclusivity." - Mathieu Coquillon, co-founder, Mama Money "At Paymentology, we are drawn to working with organisations that share our core values. That is incredibly true of our partnership with Mama Money who are trailblazers in delivering inclusive financial solutions. In a nation where an estimated 4 million migrants reside with many not having access to essential financial services, initiatives such as this from Mama Money, powered by us, play a pivotal role in bridging the gap in financial inclusivity." - Drisha Kirkman, Head of Programme Management and Sustainability, Paymentology #techafricanews #africa #fintech #programme #management #sustainability #financial #solutions

Paymentology Partners with Mama Money and Access Bank to Launch WhatsApp-Powered Bank Card. Paymentology, a leading next-gen global issuer-processor, has announced a partnership with Mama Money, a prominent cross-border money transfer operator, and Access Bank Angola to launch an innovative WhatsApp-powered bank card. This new card allows users to transfer payments internationally, buy electricity and airtime, download bank statements, check balances, and manage accounts using WhatsApp. The Mama Money Card, priced at R100 with a R25 monthly fee, simplifies the application process by requiring only a passport or asylum document, bypassing the traditional need for proof of address. This feature is particularly beneficial for Mama Money’s customers in South Africa, who are primarily from countries such as Zimbabwe, Malawi, Ghana, Nigeria, and India. The card provides access to essential financial services and enables users to send money to over 70 countries worldwide. Through Paymentology’s advanced payment solution, the Mama Money Card also offers security features that allow users to instantly freeze the card via WhatsApp in case of loss or theft. This partnership has enabled Mama Money to innovate rapidly while maintaining high regulatory compliance standards. Mathieu Coquillon co-founder of Mama Money, emphasized the card's impact: “The Mama Money Card represents a step in empowering communities, particularly in aiding migrants. It provides a platform for secure employer payments, encourages savings, and ultimately contributes to the financial well-being of its users. By catering to the specific needs of a diverse customer base, Mama Money continues to dismantle financial barriers and promote inclusivity." Drisha Kirkman, Head of Programme Management and Sustainability at Paymentology, added, “At Paymentology, we are drawn to working with organizations that share our core values. That is incredibly true of our partnership with Mama Money, who are trailblazers in delivering inclusive financial solutions.” #Digital #Banking #WhatsAppBanking #MamaMoney #CrossBorderPayments #DigitalInnovation

South Africa surprised with innovations! 🤩 Mama Money, along with Access Bank and Paymentology, is launching a groundbreaking service — the first WhatsApp-powered bank card service. 💳 Now it's possible to seamlessly transfer money internationally, purchase airtime, top-up electricity, and manage your accounts — all via WhatsApp! Additionally, robust security, provided by Paymentology, lets customers freeze card instantly if lost or stolen. This innovation is specifically designed to meet the needs of South Africa's migrant population, who often lack access to traditional banking services. 🏦 What a significant step forward in financial inclusion! 👍 #Africa #Fintech #FintechAfrica #PaymentSolution #Payments #DigitalBanking #FinancialInclusion #OnlineBanking #DigitalPayments #DigitalFinancialServices #Banking #AfricaPayment #CardPayments

Yabx and Clickatell Collaborate to Launch WhatsApp Lending in Africa Yabx, a prominent player in the digital lending space, is making a significant stride forward by launching WhatsApp lending services in Africa, through a collaboration with Clickatell. The move promises to democratize access to financial services and enable customers to get credit in real time. Krishna Chaitanya, Chief Product Officer of Yabx commented “We’ve been reimagining innovative methods to democratize credit in emerging markets thereby, transforming the way underserved individuals and businesses perceive finance today. Conversational Banking is our key to further solidifying this narrative in Africa, making it more personal and interactive. Our technology is rooted in the belief that everyone seeks honest ways to improve their lives, and our mission is to make that aspiration a reality.” https://lnkd.in/eZDEDVHj Werner Lindemann Rajat Dayal Krishna Chaitanya Pieter de Villiers Andrea Mahoney Marius Schafer Jennifer Shambroom #FFNews #Fintech #Finance #Banking #Paytech #Payments #Insurtech #Insurance

South African mobile phone operator MTN (MTNJ.J) is launching services allowing users to send cash abroad and businesses to accept payments via an app as it pushes further into the country's rapidly growing fintech space. Mobile operators have been expanding in financial services across Africa, where a large part of the population does not have good access to traditional banking. With about 9 million registered mobile money subscribers in South Africa, MTN South Africa's Chief Financial Services Officer Bradwin Roper said the group is largely focusing on the roughly 15% of South Africans that are still unbanked. South Africa-based mobile money users will now be able to send money to recipients across over 10 African countries in real time if they are also registered users of the MTN service, Roper said. ‣ Source: https://lnkd.in/dPSK_Hjn ‣ Join 50k other FinTech Fanatics and sign up for my daily FinTech Newsletter here: https://lnkd.in/eVNvGnDW #fintech #remittances #payments #paymentservices #fintechindustry #fintechinnovation #financialtechnologies #financialservices #fintechnews 

Hello, there's some great news to share today. Yabx is launching lending through WhastApp in Africa. WhatsApp, up till now was only hosting banking and payment services in most parts of the world. India- a commander in democratizing financial services had launched lending through the app around this year. However, to make a service like this available in Africa takes years of foundational work. This is because, a majority of the continent's population cannot even approach a bank- to get an approved loan. In order to solve this problem, we decided to the bring the bank to the masses making Africans experience the most frictionless lending experience in the world, at the tip of their fingers. #whatsapp #lending #expansion #frictionless #credit https://lnkd.in/d4vpY8Jg

Pesalink: KENYA The image depicts instant account-to-account (A2A) internet banking transaction volumes by hour, on weekdays in the Ksh. 1k to 10k range, highlighting a peak in activity at 5pm (right after banks close)- we call this the‘closing rush. This trend doesn’t extend to transactions under Ksh. 1k or over Ksh. 10k, which show flatter or lower volumes outside business hours, peaking at different times. Interestingly, in the Ksh. 1k to 10k range, there's no closing rush for mobile app and USSD transactions, with volumes tapering off from 5pm, while transactions between Ksh. 100 to 1k on mobile apps spike between 6 and 8pm, suggesting variations in payment behavior based on transaction sizes and channels. For customers wanting to make time-sensitive payments instantly and straight to an account, PesaLink is the main game in town 👍. Message us, if you are in the industry and looking to improve your out of hours service provision. Follow us, for more insights and reflections on payments. #bankinginnovation #fintechkenya #digitalpayments

Centenary Bank in Uganda takes a bold step into the digital era with the launch of CenteWhatsApp banking, leveraging the popularity of WhatsApp among its 4.5 million users in the country. This strategic move allows customers to effortlessly manage their finances through the familiar and user-friendly interface of WhatsApp, offering services like balance checks, money transfers, bill payments, and even mobile loans up to UGX 5 million ($1,307.76). With 7.48 million projected online users in Uganda by 2024, Centenary Bank's innovative approach aligns with global trends, as digital banking is predicted to be embraced by 53% of the world's population by 2026, according to Juniper research. Centenary Bank's Managing Director, Fabian Kasi, emphasizes their commitment to embracing technological advancements and meeting changing consumer preferences. With an asset base of UGX 5.5 trillion ($1,442,039,500) and a customer base exceeding 2.4 million through various channels, including 79 branches, 205 ATMs, and over 7,000 agents, Centenary Bank is poised to provide secure, easy, and accessible banking solutions to a broader audience through the ubiquitous messaging platform, WhatsApp.