{"id":834973,"date":"2025-03-18T12:13:43","date_gmt":"2025-03-18T17:13:43","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2025\/03\/18\/moniepoint-partners-with-afrigo-to-introduce-five-million-contactless-cards\/"},"modified":"2025-03-18T12:13:43","modified_gmt":"2025-03-18T17:13:43","slug":"moniepoint-partners-with-afrigo-to-introduce-five-million-contactless-cards","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2025\/03\/18\/moniepoint-partners-with-afrigo-to-introduce-five-million-contactless-cards\/","title":{"rendered":"Moniepoint partners with AfriGO to introduce five million contactless cards"},"content":{"rendered":"
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Nigerian fintech unicorn Moniepoint has partnered with AfriGO, the national domestic card scheme, to roll out five million contactless payment cards and tap-to-pay solutions across Nigeria. The move aligns with Nigeria\u2019s ongoing shift toward contactless payments.<\/p>\n

The partnership could drive widespread adoption of contactless payment in Nigeria considering Moniepoint\u2019s wide distribution network across the country. By leveraging Moniepoint\u2019s vast network of agents and merchants, the initiative aims to bring \u201ctap and go\u201d convenience to an economy still dominated by cash and PIN-based card transactions, accelerating the Central Bank\u2019s cashless agenda and extending digital payments into underserved communities.<\/p>\n

\u201cToday, over 50% of merchants still rely on cash, because it\u2019s fast and reliable,\u201d said Didi Uwemakpan, Moniepoint\u2019s VP of corporate affairs. \u201cIf cash is fast and reliable, what is that thing that can mimic cash and still helps the economy grow?\u201d<\/p>\n

Moniepoint\u2019s partnership with AfriGo comes one week after TechCabal reported<\/a> that Palmpay partnered with CashAfrica, a contactless payment infrastructure provider, to roll out tap-to-pay functionality on its POS terminals, starting with 1,000 devices in a pilot phase before a nationwide expansion in March.\u00a0<\/p>\n

Moniepoint is building its contactless payment infrastructure and plans to launch contactless-enabled cards in H2 2025. The company chose AfriGo for its cost efficiency when compared to global counterparts.<\/p>\n

\u201cWhile we might decide to announce another card scheme partner, for us, it\u2019s about how do we drive digital payments in Nigeria. At the end of the day, do my customers want this, do my customers find value in this and is it cost efficient?\u201d Uwemakpan shared. \u201cFor AfriGo, it\u2019s about capturing a part of the market that has not been already captured.\u201d<\/p>\n

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While contactless payment is a staple in markets like Europe and China, many Nigerians are unfamiliar with it.\u00a0 \u201cThe responsibility is on us to educate the merchants and users,\u201d Uwemakpan added.<\/p>\n

Moniepoint will comply with the CBN\u2019s contactless payment guidelines<\/a> which require risk management measures such as a per-transaction limit of \u20a615,000 and a \u20a650,000 daily limit. \u201cThe goal is to introduce enough friction to safeguard customers from fraud,\u201d the company said.<\/p>\n<\/div>\n

Moniepoint will determine the threshold at which PIN authentication becomes necessary for transfers, with median transaction value for card payments pegged at \u20a65,000.<\/p>\n

If successful, the Moniepoint\u2013AfriGO partnership could be the beginning of a widespread adoption of contactless payment in Nigeria.<\/p>\n<\/p><\/div>\n

Faith Omoniyi
Read More<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Nigerian fintech unicorn Moniepoint has partnered with AfriGO, the national domestic card scheme, to roll out five million contactless payment cards and tap-to-pay solutions across Nigeria. The move aligns with Nigeria\u2019s ongoing shift toward contactless payments. The partnership could drive widespread adoption of contactless payment in Nigeria considering Moniepoint\u2019s wide distribution network across the country.<\/p>\n","protected":false},"author":1,"featured_media":834974,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[131942,23745],"tags":[131940,5566],"class_list":{"0":"post-834973","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-moniepoint","8":"category-partners","9":"tag-moniepoint","10":"tag-partners"},"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/834973","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=834973"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/834973\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/834974"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=834973"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=834973"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=834973"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}