Mama Money, a money transfer company, partners with Western Union, the world leader in cross-border money payments to expand internationally.
Mama Money, founded by Mathieu Coquillon and Raphael Grojnowski, launched in 2015. The company has rapidly grown in the last two years. It has expanded from 6 employees to over 120 and from remittances just in Zimbabwe to more than 50 countries.
Mama Money uses technology to allow safe money transfer. Through an easy-to-use mobile app and reducing the cost of remittances. And aims to help foreign nationals in South Africa transfer money to their families conveniently.
“Our average fee is around 3% but we have dynamic pricing. which means if you send more per transaction the fees are reduced and can be as low as 0.1%,” explains Coquillon.
Mama Money also helped migrant workers in over 50 countries to send money to their families with just a 0.1% fees.
Partnership with Western Union enables cross-border transactions in just a couple of minutes through the use of core cross-border assets. Western Union’s extensive network, more than 500,000 users based in South Africa. And they all will be able to send money from their phones in over 200 countries around the world.
Coquillon said, “Western Union’s robust and reliable network, coupled with Mama Money’s easy-to-use and reliable digital service. And is a highly strategic partnership with massive potential for tapping into a broader remittance market especially for the unbanked population.”
Mohamed Ouazzani on Mama Money and Western Union
In addition, Mohamed Touhami El Ouazzani, Regional Vice President, Africa, Western Union, expressed Western’s Unions excitement over the partnership. “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,” said Ouazzani.
Customers can download Mama Money’s mobile app and register by uploading their ID. After approximately 24 hours, they can start transferring money in a simple and quick way.
Through this partnership, MamaMoney and Western Union will help numerous people in Africa send money internationally with ease.
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