Nabilah Safira
TechInAfrica – It has been announced by the local fintech company, Mama Money, that its customers now are able to make cross border payments through Western Union.
Previously, Mama Money has continued its footprint in 50 countries across Europe, Asia, and Africa. Now, collaborating with Western Union, Mama Money will be helped to increase its development more rapidly. Moreover, this partnership is marked as the great news made by Mama Money for those who are not able to have remittance payment during lockdown.
Co-founder at Mama Money, Mathieu Coquillon stated that during the lockdown in April, there is big loss in the payments from South Africa due to the prohibition on movement to pay for money transfers and uncertainty. The payment outflows decreased by 90%. Nevertheless, there is an opportunity to recover the economic condition in May. The point is that Mama Money bring back the chance for customers to be able to make payments directly from their phone
More than 500.000 people in South Africa use the service from Mama Money and because of the partnership with Western Union, they will immediately have the opportunity to make payments to over 200 countries.
Although people can use Mama Money for free, there is a fee charge for payment applied by the fintech firm. This fixed charge ranges from 3 percent to 0.1 percent, with fees falling as the quantity being sent increases.
Customers can send their money through the application and make payment for their remittance orders at Pick n Pay, Boxer, Shoprite, Checkers, Cambridge, Boxer, Makro, and Game.
Source: Itnewsafrica.com
