Onome Amuge
L-R :Babatunde Olofin, managing director, Moniepoint MFB; Ugo Obasi, chief operating officer, AfriGOPay Financial Services; Ebehijie Momoh, MD/CEO, AfriGOPay Financial Services; and Tosin Eniolorunda, co-founder and group CEO, Moniepoint Inc, during a courtesy visit to AfriGo in Lagos, recently.
Moniepoint Inc 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.
The collaboration will also leverage Moniepoint’s extensive reach and robust infrastructure to avail an innovative solution which 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.
Moniepoint, already a leader in driving digital payments and financial inclusion in Nigeria, will utilise its vast 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 dependency 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.
“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,” stated Tosin Eniolorunda, CEO Moniepoint Inc.
Eniolorunda described the Moniepoint/AfriGO card as not just a product, but also a vital tool that will extend the company’s reach, particularly to those who have been traditionally excluded from the formal financial system.
He added that 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”.
“The benefits of contactless payments are far reaching and will be great for our ecosystem. There are mutual synergies in unlocking potentials by creating a better life through our services for all Nigerians and we can reshape the digital economy so everyone — individuals, financial institutions, governments and businesses — can realize their ambitions,” he added.
Speaking on the collaboration, Ebehijie Momoh, the managing director & CEO of Afrigopay Financial Services Ltd. (AFSL), stated, “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.”
Momoh noted further that Moniepoint’s extensive agent network will play a key role in expanding its reach, supporting local businesses and delivering essential banking services, including purchases, deposits, withdrawals and money transfers. This, the AFSL MD stated, is helping to create a more connected and inclusive financial ecosystem, making transactions faster, more reliable and widely accessible to Nigerians.
