Moniepoint Inc has entered into a strategic partnership with Afrigopay Financial Services Limited (AFSL) to further deepen the government’s digital payment agenda by driving tap-to-pay solutions as well as accelerating the adoption of AfriGO Card, Nigeria’s National Domestic Card Scheme nationwide.
The fintech company said in a statement that collaboration will also leverage its (Moniepoint’s) extensive reach and robust infrastructure to avail an innovative solution which allows users to make payments by tapping or hovering their contactless card or near field communication (NFC) enabled device over a payment terminal or directly on compatible mobile phone devices.
Known for its innovative solutions that empower small and medium-sized enterprises (SMEs) and individuals, Moniepoint said it is committed to bridging the financial inclusion gap by deploying five million AfriGO cards.
Speaking during the signing ceremony in Lagos, the chief executive officer of Moniepoint Inc, Mr Tosin Eniolorunda, remarked: “Our partnership with AfriGO aligns perfectly with our ongoing mission to engineer financial happiness for every Nigerian while driving convenience, transparency and security with contactless payments.
“The Moniepoint/AfriGO card is not just a product; it’s a vital tool that will extend our reach, particularly to those who have been traditionally excluded from the formal financial system.
“Building on Moniepoint’s impressive track record, this partnership will offer Nigerians a more affordable payment option while ensuring instant transaction settlement through AfriGO. Additionally, it will further drive financial inclusion across the country.”
He also stated that the benefits of contactless payments are far reaching and will be great for our ecosystem.
“There are mutual synergies in unlocking potentials by creating a better life through our services for all Nigerians and we can reshape the digital economy so everyone — individuals, financial institutions, governments and businesses — can realize their ambitions,” he added.
For her part, the managing director and chief executive officer of Afrigopay, Mrs. Ebehijie Momoh said the partnership would transform financial service delivery, particularly in underserved areas, by leveraging AfriGO’s innovative payment solutions.
“With AfriGO Cards, merchants and agents will experience seamless transaction finalisation and instant settlement, leading to improved efficiency, better cash flow management, and reduced risk.
“Backed by robust technology infrastructure and effective liquidity management, AfriGO ensures smooth and secure operations, further enhancing accessibility and driving financial inclusion.
“Moniepoint’s extensive agent network will play a key role in expanding this reach, supporting local businesses and delivering essential banking services, including purchases, deposits, withdrawals and money transfers. Together, we are creating a more connected and inclusive financial ecosystem, making transactions faster, more reliable and widely accessible to Nigerians,” she said.
Momoh further said the partnership reinforces the industry’s commitment to offering advanced, efficient payment solutions while significantly giving a boost to digital payment adoption in Nigeria, offering a secure, local alternative to international payment cards and shaping the future of payments in Nigeria.
Moniepoint, already a leader in driving digital payments and financial inclusion in Nigeria, will utilise its vast network and technological expertise to facilitate the rapid scaling of the AfriGO cards.
Moniepoint has been instrumental in transforming Nigeria’s financial landscape by providing reliable and accessible digital payment solutions.
Their agent network, spanning across the country, has significantly contributed to bringing financial services closer to underserved communities.
The company’s focus on empowering SMEs with reliable point-of-sale (POS) terminals and digital banking tools has fostered economic growth and financial stability.
AFSL is subsidiary of the Nigeria Inter-Bank Settlement System (NIBSS).
AfriGO aims to deepen financial inclusivity by utilizing innovative products, a customer-focused approach, and cutting-edge technology.
By reducing the country’s dependency on foreign exchange (FX) for payment transactions and ensuring data sovereignty, AfriGO Card strengthens and empowers local businesses, creating new opportunities within the growing card business ecosystem in Nigeria.
