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Hello to all fintech enthusiasts! I am excited to share some exciting news with you. Anne Marie here, always at the forefront of financial innovation.
Moniepoint unveils MonieWorld, a remittance solution and digital financial services specifically designed for the African diaspora in the United Kingdom. This intuitive app makes it easy to send money to Nigeria in seconds, thanks to competitive exchange rates and no transaction fees. Available on the Apple App Store and Google Play Store, MonieWorld offers various payment options, including bank transfers, debit/credit cards, and mobile payments such as Apple Pay and Google Pay. By supporting local businesses and families, this initiative strengthens the Nigerian economy while promoting UK-Nigeria bilateral trade. With over a billion monthly transactions, Moniepoint continues to expand its footprint by providing innovative solutions that drive financial inclusion to new heights. Moniepoint’s commitment to innovation demonstrates its ambition to create a harmonious and accessible financial ecosystem for all.
moniepoint revolutionizes money transfer between the UK and Nigeria
In an increasingly connected world, international money transfers play a crucial role in supporting local economies and families across the globe. Moniepoint, a Nigerian platform specializing in payment and banking services for businesses, has just taken a major step by launching MonieWorld, an innovative money transfer solution aimed at clients in the UK wishing to send funds to Nigeria. This initiative aims to address the unmet needs of the African diaspora in the UK, facilitating faster, safer, and more economical remittances.
what advantages does MonieWorld offer to British users
Launched via the Apple App Store and the Google Play Store, MonieWorld offers a multitude of advantages that make it an attractive solution for Nigerian expatriates and other residents of the UK looking to send money to their loved ones in Nigeria. First, transactions via MonieWorld are completed in seconds, which represents a significant improvement over traditional methods that are often slow. Additionally, competitive exchange rates are adjusted throughout the day, ensuring that users benefit from the best possible deals at the time of their transaction.
Another highlight of MonieWorld is the absence of transaction fees, making money transfers more affordable for users. Clients can make their payments through various means such as bank transfers, debit/credit cards, and mobile payment services like Apple Pay and Google Pay. This flexibility allows everyone to choose the most convenient and secure payment method according to their preferences.
how MonieWorld impacts the Nigerian economy
Remittances play a vital role in the Nigerian economy, complementing foreign direct investment and supporting household consumption as well as liquidity in foreign currencies. In 2024, global remittances to Nigeria increased by nine percent, reaching nearly $21 billion, with the British diaspora contributing 50 percent of this total. This inflow of funds is essential for economic development, as it helps support local businesses, assist families, and boost bilateral trade between the UK and Nigeria.
By facilitating money transfers, MonieWorld directly contributes to this positive economic dynamic. By providing a fast and reliable platform, Moniepoint ensures that funds reach beneficiaries quickly, thus promoting effective use of financial resources. This efficiency is particularly important for Nigerian small and medium enterprises (SMEs) that rely on remittances for their daily operations and expansion.
what innovative technologies does MonieWorld use
Moniepoint relies on the latest financial technologies to offer a secure and efficient money transfer service. The MonieWorld app uses advanced security protocols to protect transactions and user data, thus ensuring a seamless user experience. Furthermore, the platform is designed to be intuitive and easy to use, even for those who are not particularly familiar with digital technologies.
integration with mobile payment services
One of the innovative aspects of MonieWorld is its integration with mobile payment services such as Apple Pay and Google Pay. This feature allows users to make quick and secure payments directly from their smartphones, thus eliminating the need to log into a traditional bank account. This accessibility is particularly useful for younger generations of the diaspora who prefer using their mobile devices to manage their finances.
the future prospects for Moniepoint and MonieWorld
Following the successful launch of MonieWorld, Moniepoint plans to expand this solution into a complete financial platform, specifically designed for the African diaspora. This expansion will include the addition of new features and services aimed at better meeting the financial needs of users. The goal is to create a suite of integrated financial solutions that cover all aspects of customer needs, from money transfers to bank account management and access to credit.
The founder and CEO of Moniepoint, Tosin Eniolorunda, says: “The launch of MonieWorld is an exciting milestone in our mission to create financial happiness and support the entrepreneurial potential of Africa.” He adds that this solution is a natural addition to Moniepoint’s existing service offerings and that it will be extremely beneficial for clients by making remittances easier, faster, and more reliable.
how Moniepoint stands out in the fintech sector
Moniepoint positions itself as a leading financial platform in Nigeria, serving a vast network of SMEs and consumers with an integrated suite of services such as digital payments, bank accounts, credit, and management tools. With over a billion transactions processed each month and a total payment volume exceeding $22 billion, Moniepoint asserts itself as a key player in promoting financial inclusion in Nigeria.
Moniepoint’s success also relies on its strong financial backing. In October 2024, the company secured a Series C funding round, backed by renowned investors such as Development Partners International, the Google Africa Investment Fund, Verod Capital, and Lightrock. In January 2025, Visa also invested in the company, further strengthening its financial position and ability to innovate in the fintech sector.
what are the challenges and opportunities for MonieWorld
Like any growing company, Moniepoint must face various challenges while seizing the opportunities that arise. One of the main challenges lies in the need to maintain a high quality of service while increasing the user base. Competition in the money transfer sector is fierce, with well-established players constantly seeking to innovate and attract customers. Therefore, Moniepoint must continue to invest in technology and customer service to remain competitive.
On the other hand, opportunities abound. The African diaspora in Europe, and particularly in the UK, continues to grow, thus increasing the demand for reliable and economical money transfer services. Furthermore, the rapid evolution of financial technologies offers Moniepoint the chance to integrate new features and diversify its services, thus responding to the changing needs of its users.
the social impact of MonieWorld on Nigerian communities
Apart from the economic aspects, MonieWorld has a significant social impact on Nigerian communities. Money transfers are often used for education, healthcare, and the development of local infrastructure. By facilitating access to funds, MonieWorld helps improve the quality of life for families and supports community initiatives. This creates a virtuous circle where financial support strengthens local capacities, which in turn fosters stability and sustainable development.
Moreover, Moniepoint is committed to promoting financial inclusion by offering solutions tailored to the needs of underserved populations. By enabling more people to access quality financial services, MonieWorld plays a key role in reducing economic inequalities and promoting equal opportunities.
comparison with other money transfer solutions
The money transfer market is dynamic, with numerous companies offering similar services. However, MonieWorld stands out due to several unique features. Unlike some competitors, MonieWorld offers instant transactions with no hidden fees, which is a considerable advantage for users looking to optimize their remittances. Additionally, integration with mobile payment platforms such as Apple Pay and Google Pay simplifies usage for younger generations.
Furthermore, Moniepoint’s ability to process a high volume of transactions and maintain competitive exchange rates throughout the day enhances the reliability and attractiveness of MonieWorld. Additionally, the strong financial support from prestigious partners such as Google Africa Investment Fund and Visa ensures sustained stability and growth capacity, positioning MonieWorld as a trusted player in the sector.
testimonials and user feedback
Since its launch, MonieWorld has received positive feedback from British and Nigerian users. Several testimonials highlight the ease of use of the app and the speed of transactions. “MonieWorld has transformed the way I send money to my family in Nigeria. It’s fast, reliable, and with no extra fees, which makes all the difference,” says Fatou, a user based in London.
Other users appreciate the competitive exchange rates and the transparency of the services. Marc, a Nigerian entrepreneur residing in Manchester, states: “Thanks to MonieWorld, I can support my business by receiving funds quickly. The exchange rates are fair, and I don’t have to worry about hidden fees.”
the future of Moniepoint in the global fintech landscape
With the success of MonieWorld, Moniepoint aims to strengthen its presence in the international market and diversify its financial services. Future plans include expanding credit offerings, improving financial management tools, and integrating new technologies such as blockchain for even more security and efficiency. This vision places Moniepoint on the path to continued expansion, not only in Africa but also beyond, into other regions where the African diaspora is present.
By exploring these new avenues, Moniepoint draws inspiration from the agility and innovation characterizing industry leaders in fintech, such as Airwallex and David Marcus, to name just a few. By combining a deep understanding of user needs with cutting-edge technology, Moniepoint is well positioned to play a central role in the future of international financial services.
