According to the official announcement, the Mastercard Payment Gateway service is a single touch point for developers and businesses to access innovative payment methods, APIs, SDKs, and fraud protection services.
This partnership is expected to make it possible for the thousands of businesses that already leverage Mastercard's robust MPGS tools and services to accept payments in one more innovative way from their customers and allow businesses looking to offer commercial services in Nigeria the opportunity to leverage Mono's account-to-account payment solution.
Mono's DirectPay Pay with Bank method allows businesses to collect fast and secure account-to-account payments from their users. Businesses delivering services to consumers in Nigeria can leverage the MPGS solution to get access to Mono DirectPay to collect payments.
What this partnership means for Mono
According to the announcement, this partnership was also made possible by a sustained relationship between Mono and Mastercard after being accepted into the inaugural StartPath Open Banking program in Africa where we had the immense opportunity to access Mastercard's technology, network, and expertise.
For Mono, this partnership will allow it to expand the scale of its Pay with Bank account-to-account payment offering, address evolving consumer and business needs, deepen its Open Banking expertise, and contribute to building the future of digital commerce and payments in Africa.
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