Moniepoint and tell.money have partnered to implement Confirmation of Payee on Monieworld, Moniepoint's UK-based remittance platform.
The agreement marks a compliance milestone for Moniepoint as it scales its presence in the UK financial services market.
The CoP service will be delivered through Monieworld, a subsidiary of Moniepoint Inc. that launched just over one year ago. The platform enables UK residents to send funds directly to Nigerian bank accounts via multiple payment methods, including Monieworld accounts, debit and credit cards, UK bank accounts, Apple Pay, and Google Pay.
Reducing fraud risk and meeting UK compliance requirements
Under the partnership, tell.money will provide the name-checking infrastructure on the Monieworld platform, verifying recipient account details before transactions are processed. The mechanism is designed to reduce the risk of misdirected payments and protect users against fraud, requirements that apply to newly authorised firms operating in the UK payments market.
Furthermore, CoP is a fraud-prevention measure mandated by Pay.UK and required by the Payment Systems Regulator as part of broader efforts to address authorised push payment (APP) fraud. For remittance providers recently entering the regulated UK market, compliance with CoP obligations is a prerequisite for building a credible payments infrastructure.
According to the announcement, Moniepoint selected tell.money based on its capacity to deploy the solution quickly and with limited operational overhead. In addition, Tell.money assumes responsibility for CoP setup, accreditation, and ongoing monitoring, allowing Moniepoint to manage regulatory obligations without diverting internal resources.
Expanding into the UK from an African fintech base
The partnership is part of Moniepoint's broader international expansion strategy, with the UK representing the company's first major market outside Africa. The company was established to serve the African diaspora in the UK, beginning with the Nigerian community, and focuses on cross-border money transfers to Nigeria.
Moniepoint's wider platform currently serves several businesses and individuals across Africa, offering payments, banking, credit, and business management tools through an integrated ecosystem. The UK entry builds on this operational foundation, applying it to the remittance corridor between the UK and Nigeria.
Ravi Jakhodia, CEO of Monieworld, noted that the CoP partnership supports the goal of building financial services for diaspora communities with both security and reliability as core priorities. Moreover, David Monty, CEO at tell.money, described the firm's role as providing an access layer designed to integrate with Moniepoint's existing structure, enabling newly authorised firms to meet compliance requirements without significant internal build requirements.
The CoP integration positions Monieworld to meet the account verification standards expected of regulated payment firms in the UK, while allowing the platform to maintain focus on its core remittance offering to Nigerian communities living and working internationally.
