Moniepoint enters Nigeria’s personal banking market

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

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

Millions of people will benefit from the seamless and reliable debit card payments of the corporate banking platform, with more than 1.5 million businesses currently using the platform. Global payment processors, including Mastercard and Verve, will issue these debit cards.

“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.”
Ope Adeyemi, SVP for Channels and Sales Tools at Moniepoint.

The app will allow users to make transfers, pay bills and buy airtime, while its debit card can be used at ATMs, point-of-sale terminals and online. line. 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 continues its strong performance in the corporate banking market.

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