Customers Can Now Send International Money Transfers to 200 Countries and Territories via the Mama Money Mobile App
SOUTH AFRICA - EQS Newswire - 28 May 2020 - Western Union, a leader
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,"
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
"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.
Customers can download the Mama
Money application for free from the Google Play Store or the Apple App Store
and can also send money via USSD by dialing *134*542#.
Image link: https://imgur.com/lTbwxAg
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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