Moniepoint Inc. has partnered with Afrigopay Financial Services Limited, a subsidiary of the Nigeria Inter-Bank Settlement System, to accelerate the adoption of Nigeria’s National Domestic Card Scheme, the AfriGO Card.
In a statement over the weekend, Moniepoint stated that the partnership would leverage its extensive network and infrastructure to introduce an innovative payment system that allows users to complete transactions by tapping or hovering their contactless cards or Near Field Communication-enabled devices over a payment terminal or compatible mobile phone.
AfriGO is designed to strengthen financial inclusion by providing innovative, customer-centric payment solutions while reducing Nigeria’s dependence on foreign exchange for transactions.
Chief Executive Officer of Moniepoint Inc., Tosin Eniolorunda, emphasised the significance of the partnership, stating, “Our collaboration with AfriGO aligns with our commitment to engineering financial happiness for every Nigerian while ensuring convenience, transparency, and security in contactless payments. 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.”
This partnership will provide Nigerians with a cost-effective payment option while ensuring instant transaction settlements.”
Eniolorunda further highlighted the benefits of contactless payments, noting that they would significantly enhance the digital economy by fostering financial inclusion and providing a seamless experience for individuals, businesses, and financial institutions.
Similarly, the Managing Director & CEO of Afrigopay Financial Services Ltd., Mrs. Ebehijie Momoh, underscored the transformative impact of the partnership.
She said, “This collaboration is set to revolutionise financial service delivery, particularly in underserved areas, by leveraging AfriGO’s innovative payment solutions. With AfriGO Cards, merchants and agents will experience seamless transactions and instant settlements, improving efficiency and cash flow management and reducing financial risks.”
She added that Moniepoint’s extensive agent network would play a crucial role in expanding financial services to local businesses, facilitating purchases, deposits, withdrawals, and money transfers.
“Together, we are building a more connected and inclusive financial ecosystem, ensuring faster, more reliable, and widely accessible transactions for Nigerians,” she said.
The partnership reinforces the financial sector’s commitment to driving digital payment adoption while offering a secure and locally developed alternative to international payment cards.
