AfriGO and Moniepoint have announced a partnership to distribute 5 million contactless cards in Nigeria, aiming to enhance financial inclusion and accelerate the transition to a cashless economy. The collaboration leverages Moniepoint’s network to facilitate secure transactions, reduce reliance on foreign exchanges, and support SMEs. This initiative ensures more Nigerians can join the digital economy while retaining financial data domestically.
AfriGO has partnered with Moniepoint Inc. to promote Nigeria’s transition to a cashless economy by distributing 5 million contactless cards. This collaboration aims to enhance financial inclusion and expedite the adoption of digital payments across the nation. AfriGO, managed by Afrigopay Financial Services Limited (a subsidiary of NIBSS), will utilize Moniepoint’s extensive agent network to facilitate secure and instant transactions for users through contactless technology.
The partnership focuses on reducing financial dependency on foreign exchanges for card transactions, providing a local, secure, and cost-effective payment solution. Businesses and consumers will be empowered with a reliable payment network that retains transaction data within Nigeria, enhancing local innovation and supporting the growth of small and medium-sized enterprises (SMEs).
The AfriGO card offers various beneficial features, such as immediate settlements and improved cash flow management, which will fortify the payment ecosystem. Moniepoint’s pledge to distribute these cards rapidly will enable underserved communities to access crucial banking services, thereby addressing Nigeria’s financial accessibility issues.
This initiative aims to create an inclusive financial landscape, ensuring every Nigerian can engage in the digital economy regardless of their background. Through this partnership, AfriGO and Moniepoint are committed to unlocking new financial opportunities for individuals, businesses, and the broader financial sector.
The collaboration not only signifies a milestone in card distribution but also marks a commitment to fostering local technologies and solutions in the financial sector, paving the way for a connected and evolving payment landscape in Nigeria.
The partnership between AfriGO and Moniepoint represents a significant stride in advancing Nigeria’s cashless economy. By distributing 5 million contactless cards, this collaboration enhances financial inclusion and provides local solutions that empower businesses and consumers. As both entities unite to improve digital payment accessibility, they demonstrate the importance of regional partnerships in evolving the financial landscape.
Original Source: techafricanews.com
