Mastercard and TeamApt Collaborate to Boost Digital Payments

Mastercard and TeamApt Limited, a subsidiary of Moniepoint, have formed a strategic collaboration aimed at enhancing digital payment capabilities for businesses and financial institutions across Africa. Under this partnership, TeamApt will function as a non-bank acquirer on Mastercard’s global payments network, which will improve its ability to onboard licensed entities for payment acceptance and transaction processing.

Folasade Femi-Lawal, Country Manager for West Africa at Mastercard, stated that expanding digital payment acceptance is crucial for supporting small businesses in Africa. Dennis Ajalie, CEO of TeamApt, emphasized that this collaboration is a significant advancement in their mission to eliminate barriers in the payments ecosystem.

The partnership will also allow Mastercard cards supported by TeamApt’s infrastructure to be utilized at millions of merchant locations globally, providing customers with secure payment options and enabling merchants to cater to both local and international clientele.