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Mono and MasterCard partnership to improve payments in Nigeria

Mono and MasterCard's innovative alliance to improve payments across Nigeria and Africa

Nigerian open banking fintech Mono has announced forming a strategic partnership with Mastercard to introduce Mono's DirectPay Pay with Bank on the Mastercard Payment Gateway System (MPGS).

The Mastercard Payment Gateway service is a single touch point for developers and businesses to access innovative payment methods, APIs, SDKs, and fraud protection services.

Mono's DirectPay Pay with Bank method allows businesses to collect fast and secure account-to-account payments from their users. Businesses delivering services to consumers in Nigeria can leverage the MPGS solution to get access to Mono DirectPay to collect payments seamlessly.

According to Mono's blog, this innovative partnership will allow thousands of businesses that already leverage Mastercard's robust MPGS tools and services to accept payments from their customers more innovatively and allow businesses looking to offer commercial services in Nigeria to leverage Mono's account-to-account payment solution.

For Mono, this partnership will allow the fintech to expand the scale of our Pay with Bank account-to-account payment offering, address evolving consumer and business needs, deepen Mono's Open Banking expertise, and contribute to building the future of digital commerce and payments in Africa.