Moniepoint, a frontrunner in the business banking sector, has made a strategic move into the personal banking market.
Moniepoint Microfinance Bank, Nigeria’s foremost business banking platform, is delighted to announce its foray into the personal banking arena with the introduction of a consumer app and debit card.
A subsidiary of Moniepoint Inc., Moniepoint Microfinance Bank has been at the forefront of in-person payments in Nigeria. With this innovative personal banking solution, it seeks to extend its robust banking infrastructure, which has been serving businesses, to their valued customers and employees.
This development will provide millions of individuals with access to seamless and dependable payment solutions via MoniepointMicrofinance Bank debit cards, which will be issued in partnership with global payment processors like Mastercard and Verve.
The consumer app will empower users to conduct transfers, pay bills, and purchase airtime, while the associated debit cards can be utilized at ATMs, point-of-sale (POS) terminals, and online. Additionally, merchants will enjoy the convenience of seamless transactions when customers use Moniepoint cards.
Notably, Moniepoint Microfinance Bank’s expertise in banking solutions is evident in its personal banking app, which introduces an innovative card dispute resolution system.
This feature empowers users to report disputes arising from unsuccessful card transactions and track them until a full resolution is achieved, putting Nigerians in control of dispute resolution for the first time.
As a testament to its commitment to providing financial happiness, Moniepoint is also sponsoring this year’s season of Big Brother Naija and will incorporate various interactive games into the app. These games will reward users with points for each transaction, allowing them to compete for substantial weekly prizes in the millions of Naira.
Ope Adeyemi, Senior Vice President for Channels and Sales Tools at Moniepoint, remarked, “The launch of our personal banking product signifies our dedication to fostering stronger connections between businesses and their customers. We will bolster this relationship with our reliable infrastructure and services.
Having served numerous businesses effectively, it was a natural progression for us to extend our trusted services to their customers and employees. Through this initiative, we are resolute in our mission to empower the aspirations of countless individuals across the continent.”
In the upcoming months, Moniepoint Microfinance Bank plans to introduce additional services, including salary advances.
This introduction of Moniepoint Microfinance Bank’s personal banking product follows its remarkable success in the business banking sector.
Its parent company, Moniepoint Inc., was recently recognized by the Financial Times as Africa’s second-fastest growing company and the fastest-growing fintech firm in the annual “Africa’s Fastest Growing Companies” survey.
