Western Union and Mama Money, a rapidly growing international money transfer company, have joined forces to enable the customers of the South African fintech startup, to send money to their loved ones around the world via Western Union’s Global Network.
This collaboration will gear Mama Money’s more than 500,000 customers in South Africa to send money from their smartphones for a payout into billions of bank accounts in over 100 countries around the world or in cash at Western Union Agent locations across more than 200 countries and territories.
Customers can pay for transactions within the Mama Money app via direct transfers from their bank accounts or through a vast cash-in network at all major retailers in South Africa, providing a convenient and user-friendly experience.
Western Union’s open platform strategy powers other brands to move money and enable international cross-border money movement in minutes1 by leveraging its core cross-border assets – including global settlement capabilities, compliance, operations, network, and technology systems.
“Western Union is excited to work with Mama Money to connect customers with their loved ones around the world. Innovative collaborations such as these will continue to shape global business models while enhancing customer experience and retaining their loyalty,” said Mohamed Touhami El Ouazzani, Regional Vice President, Africa, Western Union.
“It is an integration of our strengths as we continue to drive connections by enabling enterprises to scale their business offerings worldwide, leveraging our money movement platform,” added Ouazzani.
“Western Union’s robust and reliable network coupled with Mama Money’s easy-to-use and reliable digital service, is a highly strategic partnership with massive potential for tapping into a broader remittance market especially for the unbanked population,” said Nicolas Vonthron, Chief Operating Officer, Mama Money.
Mama Money’s mobile application allows customers to quickly register using just their phones and by submitting their ID, passport, refugee status, or asylum documents through the app. Customers can then start sending money abroad to their loved ones once registered in the app which takes 24-hours to be approved.
Mama Money has partnered with every major retailer in South Africa, making it easy for customers to pay at over 60,000 cash-in points such as any Shoprite or Pick N Pay nationwide.
Small business owners with a Flash or Selpal device can also accept Mama Money payments, making it even easier for customers who may not have access to a major retailer.
“With this collaboration, we are enabling customers to reach out to their loved ones in their times of need – for essentials like food and medicine to building materials for housing and school fees,” added Mathieu Coquillon, Co-founder, Mama Money.