Moniepoint Inc. has teamed up with Afrigopay Financial Services Limited, a subsidiary of the Nigeria Inter-Bank Settlement System, to promote the adoption of Nigeria’s National Domestic Card Scheme known as the AfriGO Card.
The collaboration aims to use Moniepoint’s network and infrastructure to introduce an innovative payment method that allows users to make transactions by simply tapping or hovering their contactless cards or NFC-enabled devices over a payment terminal or compatible mobile phone.
The AfriGO Card is designed to enhance financial inclusion by offering customer-focused payment solutions and reducing the reliance on foreign exchange for transactions in Nigeria.
CEO of Moniepoint Inc., Tosin Eniolorunda, expressed the importance of the partnership, highlighting how it aligns with their goal of providing financial convenience, transparency, and security through contactless payments. The partnership aims to extend their services to those excluded from the formal financial system.
The partnership is poised to offer Nigerians a cost-effective payment solution with instant transaction settlements, promoting financial inclusion and seamless experiences for individuals, businesses, and financial institutions.
The Managing Director & CEO of Afrigopay Financial Services Ltd., Mrs. Ebehijie Momoh, emphasized the transformative potential of the partnership in revolutionizing financial service delivery, especially in underserved areas. The collaboration will enhance transaction efficiency, cash flow management, and reduce financial risks for merchants and agents through AfriGO’s innovative payment solutions.
The partnership between Moniepoint and Afrigopay is aimed at building a more connected and inclusive financial ecosystem, providing faster, reliable, and widely accessible transactions for Nigerians. It underscores the commitment of the financial sector to drive digital payment adoption and offer a secure, locally developed payment card alternative.