Mono, a trailblazing Nigerian open banking fintech, has joined forces with Mastercard, marking a significant milestone in financial innovation as they introduce Mono’s DirectPay Pay with Bank feature onto the Mastercard Payment Gateway System (MPGS).

The Mastercard Payment Gateway service serves as a pivotal hub for developers and enterprises, granting them access to cutting-edge payment methods, APIs, SDKs, and robust fraud protection services.

In the latest development, businesses eyeing the Nigerian market for commercial ventures will now have the advantage of tapping into Mono’s account-to-account payment solution to streamline their commercial services.

At the heart of this collaboration lies Mono’s DirectPay Pay with Bank feature, enabling businesses to seamlessly collect swift and secure account-to-account payments from their clientele.

For businesses operating in Nigeria, harnessing the MPGS solution opens doors to leveraging Mono DirectPay for effortless payment collection.

The significance of this partnership reverberates across the fintech landscape. Notably, Mono emerges as the pioneering Nigerian Open Banking entity to gain acceptance into the prestigious StartPath Open Banking program in Africa.

Beyond this accolade, the partnership paves the way for Mono to bolster the reach of its Pay with Bank account-to-account payment offering. By catering to evolving consumer and enterprise demands, Mono aims to glean invaluable insights from a diverse array of businesses. This strategic move not only enhances Mono’s Open Banking proficiency but also propels the trajectory of digital commerce and payments across Africa.

Through this alliance, Mono and Mastercard stand at the forefront of revolutionizing financial ecosystems, promising a future where seamless, secure, and innovative payment solutions empower businesses and consumers alike.