Moniepoint, Afrigopay Partner To Boost AfriGO Card Adoption

Fintench company Moniepoint has partnered with Afrigopay Financial Services, a Nigeria Inter-Bank Settlement System (NIBSS) subsidiary, to drive financial inclusion and reduce forex reliance by promoting Nigeria’s AfriGO Card through a contactless payment system.

The partnership enables tap-and-go payments using Moniepoint’s network, allowing transactions via contactless cards or NFC-enabled devices. The initiative promises to streamline transactions and enhance convenience for millions of Nigerians. This initiative promises to streamline transactions and enhance convenience for millions of Nigerians.

At the heart of the AfriGO card scheme is a commitment to strengthening financial inclusion by providing customer-centric payment solutions. Designed to minimize Nigeria’s dependence on foreign exchange for domestic transactions, AfriGO represents a crucial step towards a more self-reliant and resilient financial ecosystem.

Tosin Eniolorunda, Chief Executive Officer of Moniepoint Inc., emphasized the strategic importance of this collaboration, 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.”

He further highlighted the cost-effectiveness and instant transaction settlement capabilities of the new system, positioning it as a viable and efficient payment option for Nigerians. Eniolorunda pointed out that the adoption of contactless payments would significantly enhance the digital economy by fostering financial inclusion and providing a seamless experience for individuals, businesses, and financial institutions alike.

Similarly, Ebehijie Momoh, Managing Director & CEO of Afrigopay Financial Services Ltd., underscored the transformative potential of the partnership. “This collaboration is set to revolutionise financial service delivery, particularly in underserved areas, by leveraging AfriGO’s innovative payment solutions,” she said. “With AfriGO Cards, merchants and agents will experience seamless transactions and instant settlements, improving efficiency and cash flow management and reducing financial risks.”

Momoh also highlighted the critical role Moniepoint’s extensive agent network will play in expanding access to financial services for local businesses. This network will facilitate essential transactions such as purchases, deposits, withdrawals, and money transfers, bringing crucial financial services to previously underserved communities.

“Together, we are building a more connected and inclusive financial ecosystem, ensuring faster, more reliable, and widely accessible transactions for Nigerians,” Momoh added. This partnership signifies a concerted effort to bridge the gap between traditional financial services and the burgeoning digital economy, ensuring that all Nigerians, regardless of their location or economic status, have access to secure and efficient payment solutions.

The collaboration between Moniepoint and Afrigopay reinforces the financial sector’s commitment to driving digital payment adoption while offering a secure and locally developed alternative to international payment cards. This move is poised to have a substantial impact on Nigeria’s financial landscape, fostering greater financial inclusion and driving the nation towards a more digitally empowered future.