Mastercard and Mono Technologies Nigeria Limited have joined forces to introduce cutting-edge A2A payments and a suite of open banking solutions powered by Mastercard Gateway technology.
The collaboration, the companies said, aims to harness Mono’s deep expertise in open banking and leverage Mastercard Gateway’s advanced payment infrastructure. The deal will deliver a secure and seamless A2A payment solution for businesses in the region, address evolving consumer demands and elevates the overall payment experience.
Mastercard said the deal with Mono Technologies is the inaugural A2A payment implementation via Mastercard Gateway within the Eastern Europe, Middle East, and Africa (EMEA) region, marking a significant milestone in digital payment advancements.
Folasade Femi-Lawal, Country Manager and Area Business Head of West Africa at Mastercard, said that integrating Mono’s open banking solution into Mastercard Gateway aligns with the company’s strategic vision to enhance and diversify payment methods available to customers. The Mastercard exec is optimistic of a future where secure and efficient A2A payments become commonplace, providing seamless transaction experiences.
The collaboration not only underscores Mastercard’s commitment to fostering innovation and promoting financial inclusion in Nigeria and beyond but also aligns with the Central Bank of Nigeria’s digital payment mission, benefitting Nigerian citizens, the payments technology giant said.
Abdul Hassan, CEO of Mono Technologies, emphasised the significance of the partnership for fintech and open banking payments in Africa.
Hassan said that Mono Technologies’ collaboration with Mastercard strengthens the technology company’s endeavours, allowing it to provide innovative open banking payment solutions and meet the evolving needs of internet businesses and consumers across Africa.
With a robust network comprising over 50 financial connections across Africa, Mono Technologies aims to drive Africa’s internet economy by enabling businesses to deliver personalised and innovative services to consumers continent-wide, according to the company’s CEO.
The collaboration with Mastercard, Hassan said, positions Mono to expand its footprint in Nigeria’s open banking landscape and the broader African region, and unlocks new possibilities for digital payments and financial services innovation.
Home
