Moniepoint has introduced MonieWorld, a new digital remittance and financial services platform tailored for the African diaspora in the United Kingdom.
The launch is part of the fintech company’s strategy to deepen its cross-border financial services and capture a significant share of Nigeria’s growing remittance market.
In a statement issued on Tuesday, Moniepoint said MonieWorld will enable Nigerians in the UK to send money home quickly, securely and at no cost.
The platform offers competitive exchange rates that update throughout the day and completes transactions within seconds.
The company said payments can be made through bank transfers, debit and credit cards, as well as mobile payment options including Apple Pay and Google Pay.
The service aims to address inefficiencies in the current remittance landscape while providing value for senders and recipients.
Remittances remain a critical component of Nigeria’s foreign exchange inflows.
According to data from the Central Bank of Nigeria and the World Bank, remittance inflows into the country rose by 9 percent in 2024 to reach $20.98 billion.
A significant portion of these funds originated from the United Kingdom where the Nigerian diaspora continues to expand.
Moniepoint’s founder and Group Chief Executive Officer Tosin Eniolorunda said MonieWorld complements the company’s existing portfolio of financial services and is well-positioned to meet the evolving needs of diaspora customers.
“It is a natural addition to our existing suite of solutions and will be hugely valuable for customers. It makes it easy quick and reliable to send remittances a critical source of funds for Nigeria’s economy” Eniolorunda said.
He added that MonieWorld would also improve access to financial services for both senders and recipients and strengthen UK-Nigeria economic ties.
Moniepoint is a leading provider of digital financial services for small and medium-sized enterprises in Nigeria.
Its services include business banking digital payments credit and enterprise tools. With MonieWorld the company now seeks to scale its influence across borders and establish a foothold in the global remittance ecosystem.
The World Bank estimated that remittances from the UK to various countries reached £9.3 billion in 2023. With Nigeria as a key recipient Moniepoint is aiming to simplify the remittance experience and capture market share by offering faster and more affordable services.
The company stated that MonieWorld is part of a broader mission to close financial access gaps and build a seamless global ecosystem for Africans at home and abroad.
