Moniepoint, a leading Nigerian fintech company, has partnered with Afrigopay Financial Services, a subsidiary of the Nigeria Inter-Bank Settlement System (NIBSS), to promote the adoption of the AfriGO Card, Nigeria’s homegrown payment solution. The collaboration aims to expand financial inclusion, reduce reliance on foreign exchange, and enhance digital payment accessibility through contactless transactions.
As part of the initiative, five million contactless cards will be introduced, enabling tap-and-go payments via Moniepoint’s extensive network of agents, merchants, and financial institutions.
Empowering Nigerians with Seamless Digital Payments
The AfriGO card scheme is designed to:
- Reduce Nigeria’s dependency on international payment cards for domestic transactions.
- Offer a cost-effective and locally managed alternative with instant settlement capabilities.
- Expand financial inclusion by reaching underserved communities.
“Our collaboration with AfriGO aligns with our commitment to engineering financial happiness for every Nigerian while ensuring convenience, transparency, and security in contactless payments,” said Tosin Eniolorunda, CEO of Moniepoint Inc.
“The Moniepoint/AfriGO card is more than just a product—it is a critical tool that will extend our reach, particularly to those excluded from the formal financial system.”
How the Partnership Will Transform Nigeria’s Financial Space
The Moniepoint-Afrigopay partnership brings significant benefits to individuals, businesses, and financial institutions, including:
- Seamless transactions: Contactless payments via NFC-enabled devices.
- Instant settlements: Faster transaction processing and reduced payment delays.
- Cost-effective solutions: Lower fees compared to foreign card networks.
- Wider financial access: Increased adoption in rural and underserved areas.
“This collaboration is set to revolutionize financial service delivery, particularly in underserved areas, by leveraging AfriGO’s innovative payment solutions,” said Ebehijie Momoh, Managing Director & CEO of Afrigopay Financial Services Ltd.
“With AfriGO Cards, merchants and agents will experience seamless transactions and instant settlements, improving efficiency, cash flow management, and reducing financial risks.”
Expanding Digital Financial Access Across Nigeria
A key component of the partnership is Moniepoint’s extensive agent network, which will facilitate:
- Card issuance and activation for individuals and businesses.
- Essential financial transactions such as purchases, deposits, withdrawals, and money transfers.
- Increased digital payment adoption among merchants, SMEs, and local businesses.
“Together, we are building a more connected and inclusive financial ecosystem, ensuring faster, more reliable, and widely accessible transactions for Nigerians,” Momoh added.
The Future of Digital Payments in Nigeria
The Moniepoint-Afrigopay collaboration underscores Nigeria’s push toward a cashless economy, providing a secure, locally developed alternative to international payment networks. By strengthening digital payment infrastructure, the partnership will:
- Foster financial inclusion across Nigeria.
- Enhance economic participation for unbanked and underbanked communities.
- Position Nigeria as a leader in African fintech innovation.
This move represents a major step in Nigeria’s financial evolution, ensuring that millions of Nigerians have access to reliable, secure, and efficient digital payment solutions.
