Moniepoint Microfinance Bank has announced its entry into the personal banking market with the launch of its consumer app and debit card.
In a statement, it stated that its newly launched app would enable users to make transfers, pay bills and buy airtime, while its debit cards could be used at ATMs, POS terminals, and online.
It noted that the debit cards would be issued through global payment processors, including Mastercard and Verve, and would allow users to enjoy seamless and reliable payments at the over 1.5 million businesses that currently use its platform.
According to the firm, its app has a card dispute resolution system that would enable users to log disputes for failed card transactions and track them till they get a full reversal.
It said, “Moniepoint Inc., through one of its subsidiaries in Nigeria, leads the in-person payments market and with this personal banking solution, Moniepoint Microfinance Bank, another subsidiary of Moniepoint Inc. will be extending its reliable banking infrastructure from the businesses it serves to their customers and employees.”
The SVP for Channels and Sales Tools at Moniepoint, Ope Adeyemi, noted, “Launching a personal banking product means we can connect businesses and their customers more effectively, backing them with our reliable infrastructure and services.
“We have always been committed to providing financial happiness. So, it was a natural next step when dealing with so many businesses, to also offer our reliable services to their customers and employees. By taking this step, we are determined to power the dreams of millions of people across the continent.”
The firm added that it intended to launch other services such as salary advances in the coming months.