Moniepoint Microfinance Bank has unveiled its foray into the realm of personal banking through the introduction of a consumer app and a debit card.
According to an official statement, the newly rolled-out app will empower users to conduct transfers, settle bills, and purchase airtime, while the accompanying debit cards will have the versatility to function at ATMs, point-of-sale (POS) terminals, and online platforms.
The bank emphasized that these debit cards, facilitated by globally recognized payment processors including Mastercard and Verve, will grant users the convenience of seamless and dependable transactions within the expansive network of over 1.5 million businesses currently utilizing its platform.
Highlighting a distinctive feature of the app, Moniepoint underscored the presence of a card dispute resolution mechanism.
This mechanism allows users to register complaints for unsuccessful card transactions and track their progress until a complete reversal is achieved.
In the words of the bank, “Moniepoint Inc., operating through one of its Nigerian subsidiaries, has already achieved a prominent position in the in-person payments sector.
By introducing this personal banking solution, Moniepoint Microfinance Bank, another subsidiary of Moniepoint Inc., seeks to extend its trusted banking infrastructure from serving businesses to catering to their clientele and workforce.”
Expressing the rationale behind this strategic move, Ope Adeyemi, the Senior Vice President for Channels and Sales Tools at Moniepoint, affirmed, “The launch of a personal banking product represents a means to foster stronger connections between businesses and their customers, underpinned by our dependable infrastructure and services.
Our commitment to delivering financial well-being has guided us in this direction.
As we already collaborate with numerous businesses, extending our reliable services to their customers and employees felt like the natural progression.
Through this initiative, we are resolute in our mission to empower countless individuals across the continent.”
The bank also disclosed its intentions to introduce additional services, including salary advances, in the forthcoming months.
