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Moniepoint Inc., a leading Nigerian fintech company, has partnered with Afrigopay Financial Services Limited (AFSL) to introduce tap-to-pay solutions and distribute 5 million AfriGO cards across Nigeria. This strategic collaboration aims to accelerate the adoption of the National Domestic Card Scheme, AfriGO, supporting Nigeria’s digital payment transformation while advancing financial inclusion.
Revolutionizing Digital Transactions with Contactless Payments
By leveraging Moniepoint’s robust fintech infrastructure and expansive agent network, the partnership will enable seamless contactless transactions. With Near Field Communication (NFC)-enabled devices, Nigerians can make secure and efficient payments by simply tapping their AfriGO cards on payment terminals or compatible mobile devices.
Unlike international card schemes, AfriGO ensures data sovereignty by keeping transactions within Nigeria’s domestic financial ecosystem. This move reduces reliance on foreign exchange for payment processing while empowering local businesses.
To drive adoption, Moniepoint will facilitate the distribution of 5 million AfriGO cards, prioritizing small and medium-sized enterprises (SMEs) and underserved communities. These cards offer instant transaction settlements, enhanced cash flow management, and reduced operational risks, backed by Moniepoint’s compliance-driven financial solutions.
A Vision for Inclusive Digital Payments
Tosin Eniolorunda, Founder and CEO of Moniepoint Inc., highlighted the importance of the partnership, stating:
“Our collaboration with AfriGO is part of our mission to engineer financial happiness for every Nigerian. By introducing contactless payments, we are promoting convenience, transparency, and security in digital transactions.”
He further emphasized that the Moniepoint/AfriGO card is more than just a payment tool—it is a catalyst for financial empowerment, particularly for the unbanked and underbanked populations.
“The benefits of contactless payments will reshape Nigeria’s digital economy, empowering individuals, businesses, and even government agencies to achieve their financial goals,” he added.
Enhancing Financial Access Across Nigeria
Ebehijie Momoh, Managing Director and CEO of Afrigopay Financial Services Ltd. (AFSL), a subsidiary of the Nigeria Inter-Bank Settlement System (NIBSS), underscored the transformative potential of the initiative:
“This partnership will revolutionize 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, improving efficiency and cash flow management.”
She further stressed the crucial role of Moniepoint’s agent network in expanding financial access across urban and rural areas. Through these agents, millions of Nigerians will have easier access to essential banking services, including:
- Purchases
- Deposits and withdrawals
- Money transfers
“Together, we are fostering a more connected and inclusive financial ecosystem, making transactions faster, more reliable, and widely accessible,” she concluded.
With this partnership, Moniepoint and AFSL are set to transform Nigeria’s payment landscape, driving the widespread adoption of domestic digital transactions and positioning AfriGO as a key player in the country’s evolving RegTech and digital financial services ecosystem.
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