Mama Money
Is Africa Heading towards a Cashless Society?
Sourced from Redbubble and iStock. Cash may have traditionally been king, but Covid-19 has contributed to a faster pace of digital payment adoption. Recently, two global fintech players discussed the emergence of a plethora of digital payments and debated if cash is on its way out. Omosalewa Adeyemi, Head of Global Partnerships and Expansion at Flutterwave and Nicolas Vonthron, co-CEO of Mama Money; explored the future of payments and banking in an increasingly digital world. Sending money home during the lockdown Vonthron says Mama Money’s digital offering grew five times during lockdown as users look for ways to send money home online following sudden border closures. “There are 5 million migrants in South Africa who came to find a better future for their families. At Mama Money, w...
African Remittance Company Joins Forces with Western Union
Mathieu Coquillon, co-founder of Mama Money Local money transfer company, Mama Money has joined forces with cross-currency money movement and payments company, Western Union. The partnership enables Mama Money customers to send money to their loved ones around the world via Western Union’s Global Network. “When the April lockdown hit, we saw a massive drop in remittances leaving South Africa due to the restrictions on movement to paying for money transfers and uncertainty. Remittance outflows for certain countries dropped by 90%. However, we’ve seen a very swift recovery since May as economic activities began to resume,” says Mathieu Coquillon, co-founder of Mama Money. Since 2017, Mama Money has grown by over 10 times – starting with six employees to over 120 staff members today. This str...
