Moniepoint, AfriGO collaborate, to distribute five million cards

In a move to further enhance the availability of digital payment services to Nigerians, Moniepoint Incorporated has announced a strategic partnership with Afrigopay Financial Services Limited (AFSL), a subsidiary of the Nigeria Inter-Bank Settlement System (NIBSS), to further enhance 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.

This collaboration will also leverage Moniepoint’s extensive reach and robust infrastructure to avail an innovative solution that 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.

A leader in driving digital payments and financial inclusion in Nigeria, Moneypoint will utilize its network and technological expertise to facilitate the rapid scaling of the AfriGO cards. Known for its innovative solutions that empower small and medium-sized enterprises (SMEs) and individuals, Moniepoint has consistently demonstrated its commitment to bridging the financial inclusion gap and has committed to deploying 5 million AfriGO cards.

AfriGO aims to deepen financial inclusivity by utilizing innovative products, a customer-focused approach, and cutting-edge technology. By reducing the country’s dependence 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.

According to Tosin Eniolorunda, the Chief Executive Officer (CEO) of Moniepoint Inc., “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.”

Speaking on the collaboration, Mrs. Ebehijie Momoh, Managing Director & CEO of Afrigopay Financial Services Ltd. (AFSL),  said, “This partnership is set to 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 finalization 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.”

She added, “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.”

This 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 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.