Nigerian open banking platform Mono has joined forces with global payments giant Mastercard in a strategic partnership designed to revolutionise digital payments across the country. This collaboration integrates Mono’s innovative DirectPay Pay with Bank solution into Mastercard’s established Payment Gateway System (MPGS). This paves the way for businesses to leverage a secure and streamlined account-to-account (A2A) payment option.
Enhanced Payment Solutions for Businesses
Mastercard’s MPGS is a renowned platform offering developers and businesses a one-stop shop for accessing cutting-edge payment methods. This includes APIs, SDKs, and fraud protection services. By partnering with Mono, Mastercard aims to bolster its MPGS offering. This will empower thousands of businesses to accept payments through a more efficient and innovative A2A method – Mono’s DirectPay Pay with Bank.
Seamless and Secure A2A Payments
The integration of Mono’s DirectPay Pay with Bank into Mastercard’s MPGS allows businesses operating in Nigeria to seamlessly collect secure and fast A2A payments from their customers. This collaboration marks a significant milestone for both companies, building upon the foundation established when Mono became the first Nigerian open banking company accepted into Mastercard’s prestigious StartPath program.
Shared Vision for Digital Transformation
This strategic alliance signifies a shared commitment between Mono and Mastercard to drive digital transformation within Africa’s financial landscape. The partnership allows Mono to expand its Pay with Bank solution’s reach, address the evolving needs of businesses and consumers, and further solidify its expertise in open banking technology.
Shaping the Future of Payments
Looking ahead, this initiative serves as a stepping stone for future advancements in digital commerce and payments across the African continent. As businesses increasingly embrace digital solutions, the integration of Mono’s DirectPay with Mastercard’s MPGS is poised to play a vital role in shaping the future of payments, not just in Nigeria, but throughout Africa.
