Mama Money is the world’s first social business for remittances. The service aims to make money transfer simple by allowing users to use the internet and cellphone technology to make sure their hard-earned money is sent quickly at the lowest possible cost.
The inspiration to start the business came from an aid worker who was inspired to start a company that directly tackled a social problem; the high costs of international money transfer to countries around Africa- the most expensive in the world. Mama Money is designed to help African migrants who left their homes in search of better opportunities.
The transfer facility, which is licenced by the South African Reserve Bank (SARB) allows users to send money using their phone or computer 24/7.
What is a Mama Money Money Order?
The Mama Money Money Order is an instruction you give Mama Money to send your recipient money. The order can be created online by using Mama Money’s USSD string on your cellphone. The order expires in 24 hours.
How to create a Mama Money Money Order
On the website, click on the “Send Money now” tab next to the recipient you wish to send money to.
Under “Amount of money to send,” type in how much ZAR you would like to send.
Select the bank and select the “Confirm Order” button.
The minimum amount you can send is R500 and the maximum amount is R5000. The limit for the month is R25 000.
To send money using Mama Money
- Create an order
- Dial *120*542#
- Add the receiver’s details
- Select the receiver from the list created
- Put in the amount you would like to send
- You will receive an SMS with a Pay@ number