Mastercard and TeamApt, the financial infrastructure company owned by Moniepoint, have expanded their strategic collaboration to scale digital payment acceptance for over 40 million micro-, small-, and medium-sized enterprises across Nigeria. Under this expanded agreement, TeamApt operates directly on Mastercard’s global payments network as a non-bank acquirer, enabling it to onboard licensed financial entities and deliver payment processing, acquiring, and acceptance services across mobile, in-store, and online channels. By integrating TeamApt’s switching infrastructure with Mastercard’s global network, the partnership simplifies high-volume card transactions, allowing merchants to accept both domestic and international Mastercard payments seamlessly while giving consumers far greater payment flexibility. Folasade Femi-Lawal, Mastercard’s Country Manager for West Africa, noted that broadening digital payment acceptance is critical to helping African small businesses compete, grow, and access the wider digital economy, a priority reflected in Mastercard’s 2026 SME Confidence Index. TeamApt CEO Dennis Ajalie emphasized that pairing their local processing footprint with Mastercard’s international network provides businesses with superior transaction tools, leveraging TeamApt’s decade-long experience building central bank-licensed switching systems and Moniepoint's extensive agent network across all 774 Nigerian local government areas.
Information provided by Edfrica is for awareness purposes only and does not constitute a guarantee or endorsement.
