Visa and Moniepoint Partner to Drive Digital Transformation

The African fintech ecosystem thrives from impactful partnerships as they provide the expertise, funding and technology needed to address infrastructure gaps, drive innovative solutions and expand financial inclusion. 

A global leader in digital payment, Visa, has invested in Nigerian fintech company, Moniepoint, to help drive financial inclusion for African SMEs.

The partnership will drive innovation in digital payment solutions, enhance Moniepoint’s capabilities and catalyse greater economic growth across Africa.

Tosin Eniolorunda, Founder and Group CEO of Moniepoint, explains: “We are thrilled to announce Visa’s investment in Moniepoint. Visa’s backing is a strong endorsement of our vision to digitize and support African businesses at scale.

Together, we aim to deepen financial inclusion, enabling SMEs to access the tools and resources they need to thrive in an increasingly digital economy.

Given that about 83% of employment across Africa is in the informal economy, we are very keen to widen access and participation in the formal financial system and drive economic growth across Africa.

Visa’s expertise in global payments and Moniepoint’s proven ability to serve African businesses make this partnership an exciting opportunity in shaping the continent’s economic future even as we pave the way for a more inclusive and dynamic financial ecosystem.

We are delighted in joining forces with Visa to enhance the digital payment infrastructure, expanding financial services, and fostering innovation in Africa.”

Meet Moniepoint

Moniepoint is Africa’s leading business banking platform.

The organisation provides the financial tools small and medium-sized enterprises (SMEs) need to grow and manage their business.

Its all-in-one solutions encompass payments, expense management, credit, banking and business growth tools.

Moniepoint supports financial inclusion and seamless operations to create financial happiness for businesses.

Not only does it ensure efficiency and high security in transactions but it also offers rolls for managing payroll, tracking expenses and generating reports to support businesses in making valuable financial decisions. 

Moniepoint continues to contribute to business growth, innovation and economic development across Africa’s fintech ecosystem.

The partnership

Moniepoint can enhance its ability to drive financial inclusion across Africa by providing SMEs with access to digital payment solutions because of the investment from Visa.

Not only will this partnership improve Moniepoint’s credibility in the fintech space and empower other businesses to grow in the financial ecosystem but it will also allow Moniepoint to utilise Visa’s complex payment technologies, like Visa Direct and contactless solutions. 

Andrew Torre, Regional President, Central and Eastern Europe, Middle East and Africa at Visa, explains: “Moniepoint has built an impressive platform that directly addresses the needs of Africa’s SMEs, a critical segment in enabling economic development.

By making financial services and digital payments more accessible and efficient, Moniepoint is helping transform how businesses operate in Nigeria and beyond.

We are excited to support their next phase of growth and innovation.”

Visa’s investment in Moniepoint is the latest example of our long-standing commitment to advancing digital economies in Africa.

We will enable even the smallest businesses to thrive through innovative payment and software solutions that allow SMEs to scale and open new revenue opportunities, while streamlining their operations.”

What will this partnership mean for the future of African SMEs?

 Visa’s investment in Moniepoint will strengthen Africa’s capabilities as an international hub for financial inclusion.

SMEs will be able to effectively integrate into the formal economy by accessing advanced digital payment solutions. 

African markets will also experience more secure, seamless and faster transactions by accessing Visa’s innovative technologies, like contactless payments and Visa Direct. 

The partnership will encourage other global financial players to invest in Africa’s fintech ecosystem and will support Moniepoint’s growth across the continent.

Moniepoint can strengthen its position in the African fintech ecosystem and catalyse competition among others. This will drive competition and propel the industry towards considerable security, efficiency and customer-centricity. 

Visa and Moniepoint’s partnership is set to empower many businesses and individuals, drive economic growth, reduce poverty and secure the importance of Africa’s fintech ecosystem in digital finance worldwide. 

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