Mastercard and BMONI launch multi-currency payment cards in Nigeria

By Parth Prabhudesai

Mastercard and BMONI have partnered to launch a new suite of virtual and physical payment cards in Nigeria, marking a significant step in the country’s expanding digital payments ecosystem.

The new cards, available in both Nigerian naira and US dollars, are designed to support seamless domestic and international transactions. The partnership combines Mastercard’s global payments infrastructure with BMONI’s AI-powered financial platform to deliver one of Nigeria’s first locally issued international card programmes focused on multi-currency functionality and instant digital access.

The launch comes as Nigeria’s e-commerce market continues to grow rapidly, with increasing demand for globally accepted digital payment solutions. Through the BMONI mobile app, users can instantly create multiple virtual cards tailored for different spending needs, including travel, subscriptions, online shopping, and daily expenses.

The platform aims to give users greater visibility and control over spending through real-time tracking and customizable card management features.

Folasade Femi-Lawal, Country Manager for West Africa at Mastercard, said the collaboration aligns with the country’s accelerating digital transformation.

“This collaboration brings together a trusted global network with an innovative platform to deliver real value—instant card access, multi-currency flexibility, and seamless cross-border transaction capabilities,” she said.

Ashwin Ravichandran, Head of Product at BMONI, said the partnership is focused on improving financial accessibility and user control.

“Our goal is to remove friction between people and their money. Partnering with Mastercard allows us to provide global access and financial control at a level previously unavailable to Nigerian consumers,” Ravichandran said.

The launch reflects a broader FinTech trend across Africa, where digital-first financial services providers are increasingly partnering with global payment networks to expand access to cross-border commerce, embedded finance, and multi-currency payment solutions.

The service is now live, with users able to access the offering directly through the BMONI app.