Moniepoint is developing tap-to-pay solutions a leading fintech company in Nigeria, has announced a strategic partnership with Afrigopay Financial Services Limited (AFSL) to roll out innovative tap-to-pay solutions and distribute 5 million AfriGO cards nationwide. This collaboration aims to accelerate the adoption of Nigeria’s National Domestic Card Scheme, AfriGO, while advancing the government’s digital payment agenda and promoting financial inclusion across the country.
The partnership leverages Moniepoint’s extensive technological infrastructure and vast agent network to deploy contactless payment solutions. It will enable Nigerians to make seamless transactions by tapping or hovering their AfriGO cards or Near Field Communication (NFC)-enabled devices over payment terminals or compatible mobile phones. This initiative builds on fintech’s established reputation as a pioneer in digital payments, particularly for small and medium-sized enterprises (SMEs) and underserved communities.
Moniepoint has committed to distributing 5 million AfriGO cards as part of the collaboration, a move designed to deepen financial inclusivity and reduce Nigeria’s reliance on foreign exchange for payment transactions. Unlike international card schemes, AfriGO ensures data sovereignty and strengthens local businesses by keeping transactions within the domestic ecosystem.
Moniepoint is developing tap-to-pay solutions as the cards will offer merchants and agents instant transaction settlement, improved cash flow management, and reduced operational risks, all supported by robust technology and effective liquidity management.
Commenting on the partnership, Tosin Eniolorunda, founder and CEO of Moniepoint Inc., said, “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.”
He also added that the Moniepoint/AfriGO card is not just a product, it is a vital tool that will extend the comany’s reach, particularly to those who have been traditionally excluded from the formal financial system. He further emphasised that the initiative would provide Nigerians with a more affordable payment alternative while fostering economic growth.
“The benefits of contactless payments are far-reaching and will reshape the digital economy, enabling individuals, financial institutions, governments, and businesses to realise their ambitions,” he explained.
Moniepoint partnership will revolutionise financial service delivery
Ebehijie Momoh, Managing Director and CEO of Afrigopay Financial Services Ltd., a subsidiary of the Nigeria Inter-Bank Settlement System (NIBSS), highlights the partnership’s transformative potential.
“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 transaction finalisation and instant settlement, leading to improved efficiency and better cash flow management,” she said.
Momoh also underscored the critical role of Moniepoint’s agent network in expanding the reach of these services. Spanning urban and rural areas, the network will facilitate essential banking services such as purchases, deposits, withdrawals, and money transfers, bringing financial access closer to millions of Nigerians.
“Together, we are creating a more connected and inclusive financial ecosystem, making transactions faster, more reliable, and widely accessible,” she noted.
Moniepoint has been a key player
Moniepoint has been a key player in Nigeria’s financial landscape, empowering SMEs with reliable point-of-sale (POS) terminals and digital banking tools. Its efforts have contributed significantly to economic growth and financial stability, particularly in underserved regions. The company recently announced the testing of a new point-of-sale (PoS) that combines payment and transaction processing with inventory management,
The partnership with AfriGO builds on this legacy, offering a secure, locally driven alternative to international payment cards.
Industry experts view this collaboration as a major step toward boosting digital payment adoption in Nigeria. By combining Moniepoint’s technological expertise and distribution capabilities with AfriGO’s focus on innovation and inclusivity, the initiative is poised to shape the future of payments in the country, aligning with broader goals of financial empowerment and economic resilience.
With the rollout of tap-to-pay solutions and the distribution of 5 million AfriGO cards, Moniepoint and AfriGO are setting the stage for a more inclusive and efficient financial ecosystem, one that prioritises accessibility, security, and local empowerment.
