Mono, a Nigerian open banking fintech, has formed 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.
Driving The News
With this partnership, businesses looking to offer commercial services in Nigeria will have the opportunity to leverage Mono’s account-to-account payment solution to offer commercial services.
Mono’s DirectPay Pay with Bank feature 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.
Why This Matters
With this signed partnership, Mono will be the first Nigerian Open Banking company to be accepted into the inaugural StartPath Open Banking program in Africa.
It will also allow the company to expand the scale of its Pay with Bank account-to-account payment offering, address evolving consumer and business needs, receive valuable feedback from diverse businesses, deepen our Open Banking expertise, and contribute to building the future of digital commerce and payments in Africa.
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