Physical Address
304 North Cardinal St.
Dorchester Center, MA 02124
When visa Invested in Nigerian Fintech Moniepoint At the beginning of this year, this was not only confirmed by a new mint-built unicorn – a bold new direction.
As part of this transaction, Nigeria Fintech, who is famous for building one of Africa’s largest business banking platforms, is aimed at a moving plans that will unlock international payment rails for visa direct, money transfers and border services.
That strategy takes a shape to start MonieworldStarting from the UK-Nigerian corridor, the first turn of diaspora-oriented financial services. However, this is not just another game for money transfer volume, the founder and the CEO insistence in the tosin enocple. “We do not try to be the money transfer application,” said Techcrunch. “We are building an appropriate immigrant banking platform.”
This is an ambitious action. The area is one of the most crowded Fintech skulls in the UK-Nigeria Corridor, especially the UK-Nigerian corridor. From LemfiSend and Nalar Send zepz and taptap, migrants do not have options. Bright user experience, years of low fees and brand capital, these ways have identified the space.
One of the earliest financial decisions they choose to transfer money transfer for most new immigrants – often with the word of the mouth. This means that Monieworld will not only enter late, but will have to argue with unusual employees in daily habits.
Although Moniepoint entries brought scale and reliability, some observers are in question the lack of money to another money transfer platform.
The eniulor says Monieworld wants to help the new immigrants return home and relate to their commitment. To Monieworld will be placed in a better price than other platforms for past (money transfers) product or price in price or price.
But this is not a Moat itself and is often a race on the bottom. He even agrees in the eniulor: “We are here to be the cheapest,” CEO said. “But we already have an existing technology, processing rails and it means that we are cheaper for our customers because we have achieved scale economies.”
Moniepoint, Nigeria, payers and cards and more recently built the infrastructure of the year in Nigeria, which is paid and compatible with retail consumers. His dispute is that the same stack sold for immigrants can be worth more than independent money transfer applications.
“Now, now we have provided easy and convenient products in Nigeria, which we offer payments, credit programs and debit and credit card services for business and consumers.”
Find their place in a crowded market
Money transfers are access points. However, the long-term goal is to offer more financial instruments such as making a loan. This is a vertical vertical in the United States in the last few years Digital platforms like zolve Help immigrants access financial services that start with credit as a wedge (Pill UK is a company).
“When you are located in a new country, you need to set up a credit history.
UK’s money transfers 9.3 billion TL was In 2023. Nigerians sent home abroad More than $ 20 billionAccording to the World Bank. It is a corridor that many players may have the probable and considerable market share. However, with these players who competed in the price or speed of these players – both well-known – the eniological, providing a superior experience, and believe only a few, will win a few.
As Moniepoint deepens local traces in African countries such as Kenya, it is the next logical step in the UK, the United States or Monthorld Corridors for these diasporas in Canada. This model will allow you to destroy Nigerian-heavy operations by spreading the effects of the ten years – a pitch is resonated with investors during the final increase in a pitch.
Again, the difficulty is real: Moniepoint steps into a fierce competitive space and is not known how much the margin is not. Although the environment sees an unavoidable consolidation ahead, he thinks that the savings of profitable Fintech, infrastructure, the Nou-Hau and the deep cultural understanding will lift enough for the item.
“When we started monipoint and this agency was felt like we started the banking. But now it reflects the deceased entrance to Moniepoint, Moniepoint in 2019.
