PLDT arm acquires for digital payments boost

Africa-focused cross-border money transfer operator Mama Money partnered with payment processor firm Paymentology and Access Bank to launch a new bank card service that integrates WhatsApp banking.

Remittance deals continue to hog the fintech headlines in Africa. MTN MoMo, Mastercard and Equity Bank Kenya are the latest companies to make announcements about plans to serve the vast African remittance market.

The mobile money market matured as transaction value grew by 14% to US$1.4 trillion and total global registered accounts reached 1.75 billion in 2023, an increase of 12% year-on-year.