Moniepoint, Afrigopay Partner To Boost Nigeria’s Digital Payment Ecosystem

Moniepoint Inc., a leading digital payment provider in Nigeria, and Afrigopay Financial Services Limited (AFSL), a subsidiary of the Nigeria Inter-Bank Settlement System (NIBSS), have announced a strategic partnership aimed at accelerating the adoption of digital payments nationwide.

The collaboration will focus on expanding the reach of tap-to-pay solutions and the AfriGO Card, Nigeria’s national domestic card scheme.

This partnership leverages Moniepoint’s extensive network of agents and robust infrastructure to facilitate contactless payments via NFC-enabled devices and payment terminals.

Moniepoint has pledged to deploy 5 million AfriGO cards, significantly expanding access to financial services, particularly in underserved communities.

“This partnership aligns perfectly with our mission to engineer financial happiness for every Nigerian,” stated Tosin Eniolorunda, CEO of Moniepoint Inc.

Eniolorunda highlighted the affordability and instant transaction settlement offered by the Moniepoint/AfriGO card, emphasising its role in driving financial inclusion and reshaping the digital economy.

He stressed the benefits of contactless payments for both consumers and businesses.

Mrs. Ebehijie Momoh, Managing Director & CEO of Afrigopay Financial Services Ltd., emphasised the transformative potential of the partnership, particularly in underserved areas.

She highlighted the seamless transaction processing and instant settlement offered by AfriGO Cards for merchants and agents, leading to improved efficiency and cash flow management.

Momoh lauded Moniepoint’s agent network as crucial in expanding the reach of AfriGO, providing essential banking services like purchases, deposits, withdrawals, and money transfers.

The partnership aims to reduce Nigeria’s reliance on foreign exchange for payment transactions and ensure data sovereignty.

By offering a secure, local alternative to international payment cards, the collaboration is expected to significantly boost digital payment adoption and shape the future of payments in Nigeria.

Moniepoint’s existing network and commitment to empowering SMEs through POS terminals and digital banking tools have already significantly contributed to Nigeria’s financial inclusion efforts.

This new partnership further solidifies their commitment to providing reliable and accessible digital financial services across the country.