Western Union, a leader in cross-border, cross-currency money movement and payments, and Mama Money, a rapidly growing international money transfer company, have joined forces to enable Mama Money customers 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 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’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.
“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.
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.
According to World Bank data, South Africa has long been a major immigration hub in the region hosting migrants, refugees and asylum-seekers from various African countries, as well as people from outside of the continent, underscoring the importance of connecting the diaspora with their loved ones via efficient money transfer services in the country.
1. Funds may be delayed or services unavailable based on certain transaction conditions, including amount sent, destination country, currency availability, regulatory issues, identification requirements, Agent location hours, differences in time zones, or selection of delayed options. Additional restrictions may apply. See terms for details.
ABOUT WESTERN UNION:
The Western Union Company (NYSE: WU) is a global leader in cross-border, cross-currency money movement. Our omnichannel platform connects the digital and physical worlds and makes it possible for consumers and businesses to send and receive money and make payments with speed, ease, and reliability. As of March 31, 2020, our network included over 550,000 retail agent locations offering our branded services in more than 200 countries and territories, with the capability to send money to billions of accounts. Additionally, westernunion.com, our fastest growing channel in 2019, is available in over 70 countries, plus additional territories, to move money around the world. With our global reach, Western Union moves money for better, connecting family, friends and businesses to enable financial inclusion and support economic growth. For more information, visit www.westernunion.com.
ABOUT MAMA MONEY:
Mama Money is at the forefront of driving the digital transformation of international payments and is a rapidly growing ethical business and money transfer operator that helps migrant workers send more money home to their loved ones with fees as low as 3%. Using mobile technology Mama Money has developed a simple application that allows users to register within 24-hours and start sending money across Africa and Asia using just their phones. By the end of 2020 Mama Money aims to be operating in 50 countries including new territories spanning Europe, Asia, and Africa. For more information, visit www.mamamoney.co.za
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