Moniepoint, AfriGO Join Forces to Distribute 5 Million Cards and Enhance Tap-to-Pay Solutions in Nigeria
In a landmark collaboration aimed at boosting digital payment accessibility in Nigeria, Moniepoint Inc has partnered with Afrigopay Financial Services Limited (AFSL), a subsidiary of the Nigeria Inter-Bank Settlement System (NIBSS). This partnership seeks to advance the government’s digital payment agenda by promoting tap-to-pay solutions and accelerating the nationwide adoption of the AfriGO Card, Nigeria’s National Domestic Card Scheme.
Through this collaboration, Moniepoint will leverage its extensive network and robust technological infrastructure to introduce a cutting-edge solution that enables users to make payments by simply tapping or hovering their contactless cards or Near Field Communication (NFC) enabled devices over payment terminals or compatible mobile phones.
As a leader in digital payments and financial inclusion in Nigeria, Moniepoint aims to deploy 5 million AfriGO cards, utilizing its vast reach and expertise to scale this initiative rapidly. The company is known for its innovative solutions that empower small and medium-sized enterprises (SMEs) and individuals, demonstrating a strong commitment to closing the financial inclusion gap.
The AfriGO initiative is designed to enhance financial inclusivity through innovative products, a customer-centric approach, and advanced technology. By minimizing reliance on foreign exchange for payment transactions and ensuring data sovereignty, the AfriGO Card strengthens local businesses and creates new opportunities within Nigeria’s burgeoning card ecosystem.
“Our partnership with AfriGO is perfectly aligned with our mission to create financial happiness for all Nigerians, while promoting convenience, transparency, and security through contactless payments,” said Tosin Eniolorunda, CEO of Moniepoint Inc. “The Moniepoint/AfriGO card represents more than just a product; it is a vital tool to increase access to financial services for those traditionally excluded from the formal system. Leveraging Moniepoint’s proven track record, this partnership will provide Nigerians with a more affordable payment option and ensure instant transaction settlements through AfriGO, further driving financial inclusion nationwide.”
Eniolorunda emphasized, “The benefits of contactless payments are extensive, and they will greatly enhance our ecosystem. By unlocking potentials through our services, we can improve lives for all Nigerians and reshape the digital economy, enabling individuals, financial institutions, governments, and businesses to achieve their goals.”
Mrs. Ebehijie Momoh, Managing Director & CEO of Afrigopay Financial Services Ltd. (AFSL), commented on the partnership, stating, “This collaboration will revolutionize financial service delivery, especially in underserved areas, by leveraging AfriGO’s innovative payment solutions. With AfriGO Cards, merchants and agents will benefit from seamless transaction finalization and instant settlements, resulting in improved efficiency and reduced risk. Backed by a robust technological infrastructure and effective liquidity management, AfriGO ensures smooth and secure operations, further promoting accessibility and financial inclusion.”
Momoh further noted, “Moniepoint’s extensive agent network will be crucial in expanding our reach, supporting local businesses, and providing essential banking services, including purchases, deposits, withdrawals, and money transfers. Together, we are building a more connected and inclusive financial ecosystem, making transactions faster, more reliable, and widely accessible to all Nigerians.”
This partnership underscores the industry’s commitment to delivering advanced and efficient payment solutions, significantly bolstering digital payment adoption in Nigeria and providing a secure, local alternative to international payment cards, thereby shaping the future of payments in the country.
Moniepoint has played a pivotal role in transforming Nigeria’s financial landscape by offering reliable digital payment solutions. Its nationwide agent network has been instrumental in bringing financial services closer to underserved communities, while the company’s focus on empowering SMEs with effective point-of-sale (POS) terminals and digital banking tools has fostered economic growth and financial stability.