Mama Money aims to compete with the large money transfer operators like Western Union and Moneygram, to offer an up to 270% saving on current remittance fees for sending money home.
Mama Money last year obtained licensing by the South African Reserve Bank as an Authorised Dealer with Limited Authority, and has been setup by founders Matt Coquillon and Raphael Grojnowski.
Initially Mama Money is focusing on money transfers between South Africa and Zimbabwe but will soon offer transfers to other countries as well.
The Mama Money website was designed and developed by Refresh Creative Media, in collaboration with Electrum Payments who handled the payment processing systems.
For more information please view the following reports in the media, and the Mama Money video below: