Moniepoint Microfinance Bank Introduces Personal Banking Services with New Consumer App and Debit Card

Moniepoint Microfinance Bank, a prominent player in the in-person payments market, has ventured into the realm of personal banking through the launch of its innovative consumer app and debit card. The move is aimed at extending its reliable banking infrastructure to both customers and employees of the businesses it serves.

The newly unveiled consumer app offers an array of convenient features, including the ability to make transfers, settle bills, and purchase airtime. Complementing the app’s functionality, Moniepoint’s debit cards can be seamlessly used at ATMs, point-of-sale (POS) terminals, and for online transactions. The debit cards, backed by global payment processors such as Mastercard and Verve, grant users access to smooth and dependable payments across the extensive network of over 1.5 million businesses currently integrated with the platform.

One of the standout features of Moniepoint’s personal banking solution is its comprehensive card dispute resolution system. This innovative system empowers users to promptly log disputes for any unsuccessful card transactions, allowing them to closely track the progress until a full reversal is achieved.

Moniepoint Inc., the parent company behind the Microfinance Bank, leads the in-person payments market, and its latest venture into personal banking reflects a natural progression to offer a complete range of financial services to businesses and their customers. Ope Adeyemi, the Senior Vice President for Channels and Sales Tools at Moniepoint, expressed the company’s commitment to enhancing financial well-being and bridging the gap between businesses and their customers through their dependable services.

Adeyemi stated, “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.”

In the pipeline, Moniepoint plans to introduce additional services, including salary advances, in the coming months. This strategic expansion further underlines the institution’s dedication to addressing the diverse financial needs of its expanding customer base, both businesses and individuals alike.