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African fintech Moniepoint gets Visa backing, plans to work on contactless payments
Visa invests over $10 million in African fintech Moniepoint to support SME growth across Africa, including introducing contactless payments.
The fintech, whose Series C now exceeds $120 million, is reportedly in talks with other investors and may attract more funding in the coming months, all while maintaining its billion-dollar valuation, sources say. Its rapid rise began during Nigeria’s Central Bank cashless drive in early 2023 and has continued steadily, positioning it as an important player shaping the future of digital payments in the country. Moniepoint is in that sweet spot to lead this transition in Nigeria by offering contactless-enabled payment terminals to businesses and chip cards to individuals, setting the stage for further adoption.
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