The Curious Case of the My Mo Card by Momspresso a part of Mama Earth a Scam? Today I bring to you a potential lesson if you are working online and earning money as an affiliate or in any other way.
Once upon a time, there was a platform called Momspresso that made money using user-generated content and then using the same model for different languages and different content forms. They launched India’s first Influencer card, which I signed up for after seeing a popular Blogger/Vlogger/Instagrammer recommend it. I faced some trouble signing up for it and then the card arrived. I was surprised by the speed of this card by Yes Bank . A minimum balance of 500 INR was needed to get started with using the card and I did the needful.
I used the Influencer card by MyMo for about three months and did get some cash back. Then in early December, I got a notification in the app about some problem with RBI monetary regulation and they were shutting the app down. I needed to withdraw money by 31st December.I But when the update about the card shutting down and KYC for withdrawal of the balance came,I was not allowed to withdraw the balance even after following all the necessary steps. I DMd on Instagram to letsmymo, Momspresso their mother brand, and also emailed them,Whatsapped them. Absolutely no response. It’s shocking that apps on Google play can get away with such horrible business practices.
I didn’t get my money back.
What happened to the Lets My Mo My Mo card?
Why is the support for money withdrawal unresponsive? It’s a curious case. I tried reaching out on Whatsapp, Ig, and DM email, but there’s radio silence. I understand there was some problem but why is there no explanation?
Interesting and on an unrelated note did you know Momspresso and Momspresso My Money app was acquired by Honasa Consumer? It’s also the parent company of Mama earth The derma co and B Blunt.
Plus Momspresso launched the MyMo Influencer card as its own product where influencers like me were receiving cash back of various amounts for reviewing products of Mama Earth, BBlunt, and The Derma Co amongst others!
It’s like watching a lizard chasing its tail around and around till it falls off.
Mama Earth is also slated to launch its IPO on a 3 billion dollar valuation in mid-2023.
Considering the brand is pretty young it has come a long way in managing to leverage influencer power for peanuts in a less-than-transparent manner. It takes quite a lot of digging to find all this out and nowhere is it mentioned that the My Mo card is defunct and won’t allow money withdrawal after 31st December, except on the app.
Is this a scam? No one seems to know anything about it and I stopped promoting the card as soon as I knew about it. Luckily I had only 3 reviews up and no promo of My Mo card itself. Shocking state of affairs that no one has written anything about it anywhere on the internet!
I had very little balance left on the card, but imagine 1 lakh Momspresso users all having a little money left in their card balance which they let go. That’s a smooth scam and too little money individually for anyone to take action.I have left a review on Google play and reached out to their social media handles.I am awaiting answers and then maybe this story will have a better ending.
Moral of the Story
Stay vigilant. Anything that looks and sounds too good to be true is probably not true.
What could be improved in this scenario?
If a product doesn’t work, you can pull the plug on it. But if the platform doesn’t share the information transparently, that’s a big red flag that can taint public relations long time.I am sure there’s a good explanation for everything that can be tied up with a bow.I hope I find the answer to this issue so that I can share it with you. But this is exactly the kind of behavior that gives brands a bad name. Remember White Hat Junior. Remember Byjus .Remember Sam Bankman Fried and FTX .When there’s money involved,be very careful.
Update 11.1.2023
I received two replies to my emails. Both mentioned they were working with the bank to find out the problem and resolve it. Will update it according to further developments.
References
https://m.economictimes.com/tech/startups/mamaearth-acquires-content-platform-mompresso-amid-larger-consolidation-in-the-d2c-space/amp_articleshow/88477418.cms
https://yourstory.com/2023/01/mamaearths-ipo-plans-raise-tough-questions-timing-valuation?
This is a timely caution. I’m pretty good at catching the phone scams. Now I have to watch out for other avenue scammers use. Thanks for the heads-up.
Thanks Florence.Yes the different methods of online scams need timely caution
There are so many scams that seem legit! Bubbles was a blogging earning site that we were able to earn pennies but they added up…until they went under.
Exactly .Pennines add up .That’s why us bloggers do the different types of work.Its sad when things like this happens
Funny you should bring up FTX. I was going to ask if this was related to crypto…
No not crypto. Just the model seems to be similar.Somewhat
I hope that you find out what happened and get your money back. It’s crazy to have no recourse.
This is really shocking. I haven’t used the MyMo card. What came as a surprise to me is that Honasa has acquired Momspresso. I hope you get a detailed explanation and your money back too. These days all these types of things are getting so shady.
I totally agree with you. Anything that’s shining is not for you. We bloggers need to be more cautious on digital platform and better to check reviews if available.
True that.All things shiny may not be for us!