Mastercard and TeamApt, a subsidiary of Moniepoint Inc. and a leading financial infrastructure provider, have announced a strategic collaboration to strengthen digital payment capabilities for businesses and financial institutions across Africa.
Under the agreement, TeamApt will operate directly on Mastercard’s global payments network as a non-bank acquirer, enhancing its ability to onboard credible, licensed entities and deliver seamless payment acceptance, transaction processing, and acquiring services.
The partnership will significantly expand card acceptance infrastructure, enabling more merchants to process Mastercard transactions across in-store, online, and mobile channels.
By integrating TeamApt’s switching infrastructure with Mastercard’s global network, the collaboration facilitates secure, high-volume transactions.
With Nigeria home to over 40 million micro, small, and medium-sized enterprises (MSMEs)—and small businesses increasingly citing digital tools as vital to scaling, according to Mastercard’s SME Confidence Index, expanding payment acceptance remains a critical driver for regional economic growth.
Combining TeamApt’s deep local market expertise with Mastercard’s global reach will provide businesses and individuals with faster, safer, and more reliable digital payment experiences.
Folasade Femi-Lawal, Country Manager, West Africa at Mastercard, stated: “Expanding digital payment acceptance is one of the fastest ways to support small businesses across Africa to compete, grow, and reach more customers. By working with TeamApt, we are equipping MSMEs and informal sector businesses in Nigeria with robust, secure infrastructure to seamlessly process transactions across multiple channels. This collaboration brings more businesses into the digital economy, unlocking vital new opportunities for growth, credit access, and cross-border trade.”
Dennis Ajalie, Chief Executive Officer of TeamApt, commented: “This collaboration with Mastercard represents an important step forward in our commitment to removing barriers within the payments ecosystem. For years, TeamApt has focused on building infrastructure that helps financial institutions and businesses grow with confidence. By working closely with Mastercard, we are extending those capabilities, enabling businesses to accept payments more seamlessly and giving users the freedom to transact securely both locally and internationally.”
The collaboration also enhances international interoperability. Mastercard payment cards supported by TeamApt’s infrastructure can now be used across millions of merchant locations worldwide, allowing local merchants to seamlessly process both domestic and international customer transactions.
As a Central Bank of Nigeria (CBN)-licensed switching and processing company, TeamApt has operated critical financial infrastructure powering banks and fintechs for over a decade.
This move further solidifies the strength of Moniepoint’s broader ecosystem. With operations and agent coverage spanning all 774 local government areas in Nigeria, Moniepoint’s extensive network uniquely positions the group to accelerate digital payment adoption across the continent.