In a bid to transform digital payments in Nigeria, Mono, a leading Open Banking platform, has announced a strategic partnership with Mastercard. This collaboration will see Mono’s innovative DirectPay Pay with Bank feature integrated into the Mastercard Payment Gateway System (MPGS), offering businesses a seamless and secure account-to-account payment solution.
The Mastercard Payment Gateway System is renowned for providing developers and businesses with access to cutting-edge payment methods, APIs, SDKs, and fraud protection services through a single touchpoint. By joining forces with Mono, Mastercard aims to further enhance its MPGS tools and services, enabling thousands of businesses to accept payments in a more innovative and efficient manner.
With Mono’s DirectPay Pay with Bank method, businesses can now collect fast and secure account-to-account payments from their customers, revolutionizing the payment landscape in Nigeria. This integration allows businesses operating in the country to leverage the robust MPGS solution to access Mono’s DirectPay feature seamlessly.
The partnership between Mono and Mastercard signifies a significant milestone for both companies. Mono’s acceptance into Mastercard’s prestigious StartPath Open Banking program in Africa laid the foundation for this collaboration, showcasing Mono’s commitment to innovation and excellence in the fintech space. Through this partnership, Mono aims to expand the reach of its Pay with Bank solution, address evolving consumer and business needs, and deepen its expertise in Open Banking technology.
This strategic alliance not only underscores the commitment of both Mono and Mastercard to driving digital transformation in Africa but also paves the way for future advancements in digital commerce and payments across the continent. As businesses continue to embrace digital solutions, initiatives like the integration of Mono’s DirectPay with Mastercard’s MPGS are poised to play a pivotal role in shaping the future of payments in Nigeria and beyond.
