TeamApt Limited, a subsidiary of Moniepoint Inc., is expanding its position in Africa’s digital payments market after entering a strategic collaboration with Mastercard that will give the Nigerian payments infrastructure company direct access to Mastercard’s global payments network.
The arrangement will see TeamApt operate on Mastercard’s network as a non-bank acquirer, strengthening its capacity to provide payment acceptance, transaction processing and acquiring services to licensed businesses and financial institutions.
The deal marks a significant step in TeamApt’s expansion from a predominantly domestic payments infrastructure role into a broader network-enabled acquiring business, potentially giving more African merchants access to international card payments.
Read also: IHS Nigeria partners Osun govt on capacity building training for 209 teachers
Under the collaboration, TeamApt will integrate its switching infrastructure with Mastercard’s global network to support high-volume transactions across online, in-store and mobile channels. The company will also be able to onboard credible and licensed entities seeking to offer Mastercard payment acceptance.
