Mastercard partners with Mono to power innovative payment solutions for digital commerce in Nigeria

Mono has formed a strategic partnership with Mastercard, to introduce Mono's DirectPay Pay with Bank on the Mastercard Payment Gateway System (MPGS). This is the first A2A payment implementation via Mastercard Gateway in the Eastern Europe, Middle East, and Africa (EEMEA) region.

The Mastercard Payment Gateway service is a robust, single touch point for developers and businesses to access innovative payment methods, APIs, SDKs, and fraud protection services.

This partnership and coming together of innovation will make it possible for the thousands of businesses that already leverage Mastercard's robust MPGS tools and services to accept payments in one more innovative way from their customers, and allow businesses looking to offer commercial services in Nigeria the opportunity to leverage Mono’s account-to-account payment solution.

Mono's DirectPay Pay with Bank method allows businesses to collect fast and secure account-to-account payments from their users. Businesses delivering services to consumers in Nigeria can leverage the MPGS solution to get access to Mono DirectPay to collect payments seamlessly.

This partnership was also made possible by a sustained relationship between us and Mastercard after being the first Nigerian open banking company to be accepted into the inaugural StartPath Open Banking program in Africa where we had the immense opportunity to access Mastercard’s technology, network, and expertise.

For Mono, this partnership will allow us to expand the scale of our Pay with Bank account-to-account payment offering, address evolving consumer and business needs, receive valuable feedback from diverse businesses, deepen our Open Banking expertise, and contribute to building the future of digital commerce and payments in Africa

By:  Nana Appiah Acquaye