PAPSS is aggressively expanding its footprints across Africa with eight central banks, six switches and about 25 of the largest commercial banks on the continent.
Monnify’s processing of N25 trillion in transactions in 2025 is intensifying competition for control of Nigeria’s digital payment infrastructure, as fintech players shift focus from consumer-facing apps to the underlying rails that move money across the economy.
The payment gateway, operated by TeamApt under Moniepoint Inc., recorded the milestone volume amid rising demand for reliable transaction infrastructure in a market increasingly driven by digital commerce, mobile payments and real-time settlement expectations.
Speaking with BusinessDay, Damilare Ogunnaike, vice president of Monnify Payment Gateway, said the growth reflects a structural shift in how businesses approach payments in Nigeria.
According to him, companies are no longer only looking for platforms that enable transactions, but for infrastructure that guarantees consistency, speed and scalability under high-volume pressure.
