back Back

Moniepoint enters Nigeria’s personal banking market

By Delisha Fernandes

August 18, 2023

  • ATMs
  • Debit Card
  • Fintech news
Share

MoniepointMoniepoint Microfinance Bank, a business banking platform in Nigeria, has announced plans to enter the personal banking market by launching a consumer app and debit card.

Moniepoint Microfinance Bank, another subsidiary of Moniepoint Inc., will be extending its reliable banking infrastructure from the businesses it serves to its customers and employees.

Millions of people will enjoy seamless and reliable payments with the business banking platform debit cards, with over 1.5 million businesses currently using its platform. Global payment processors, including Mastercard and Verve, will issue these debit cards.

Ope Adeyemi, SVP for Channels and Sales Tools at Moniepoint said, “Launching a personal banking product means we can connect businesses and their customers more effectively, backing them with our reliable infrastructure and services. We have always been committed to providing financial happiness, so it was a natural next step when dealing with so many businesses to offer our reliable services to their customers and employees. By taking this step, we are determined to power the dreams of millions of people across the continent.”

The app will enable users to make transfers, pay bills and buy airtime, while its debit cards can be used at ATMs, POS terminals, and online. Merchants will also benefit from seamless transactions when customers use Moniepoint cards. Other services, such as salary advances, will be rolled out in the coming months. The launch of Moniepoint Microfinance Bank’s personal banking product follows its strong performance in the business banking market.

Previous Article

August 17, 2023

Recharge pilots B2B Service, enabling corporate gifting of prepaid products

Read More
Next Article

August 18, 2023

YES BANK launches ‘iris’ to offer digital banking solutions in India

Read More













IBSi Daily News Analysis

FinTech funding, Venture funding, MENAP

September 25, 2023

ATMs

Why MENAP will become a hotspot for startups and VCs

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

September 25, 2023

Coforge & Newgen to deliver Insurance lifecycle management solutions

Read More

September 25, 2023

Varo Bank rolls out instant payments to users with US Debit Card

Read More

September 25, 2023

Corvallis & Finastra partner to help Italian banks boost payment offerings

Read More

Related Reports

Sales League Table Report 2023

£1,500.00 / year

Know More
Global Digital Banking Vendor & Landscape Report Q2 2023

£1,500.00 / year

Know More
Wealth Management & Private Banking Systems Report Q2 2023

£1,500.00 / year

Know More
Testing & QA for NextGen Bank Tech Q3 2023

£500.00 / year

Know More
Treasury & Capital Markets Systems Report Q2 2023

£1,500.00 / year

Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023