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Nigeria’s Mono partners with Mastercard to offer A2A payments

By Delisha Fernandes

April 08, 2024

  • account to account payment
  • Digital Commerce
  • FinTech Africa
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Mono

Nigerian open banking platform Mono has formed a strategic partnership with Mastercard to introduce Mono’s DirectPay Pay with Bank on the Mastercard Payment Gateway System (MPGS).

The Mastercard Payment Gateway service is a robust, single touch point for developers and businesses to access innovative payment methods, APIs, SDKs, and fraud protection services.

This partnership will make it possible for the thousands of businesses that already leverage Mastercard’s robust MPGS tools and services to accept payments in one more innovative way from their customers and allow businesses looking to offer commercial services in Nigeria the opportunity to leverage Mono’s account-to-account payment solution.

Mono’s DirectPay Pay with Bank method allows businesses to collect fast and secure account-to-account payments from their users. Businesses delivering services to consumers in Nigeria can leverage the MPGS solution to get access to Mono DirectPay to collect payments seamlessly.

This partnership was also made possible by a sustained relationship between Mono and Mastercard after being the first Nigerian Open Banking company to be accepted into the inaugural StartPath Open Banking program in Africa, where they had the immense opportunity to access Mastercard’s technology, network, and expertise.

This partnership will allow the Open Banking company  to expand the scale of its Pay with Bank account-to-account payment offering, address evolving consumer and business needs, receive valuable feedback from diverse businesses, deepen its Open Banking expertise, and contribute to building the future of digital commerce and payments in Africa.

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