Moniepoint, a leading Nigerian fintech company, has launched MonieWorld, a remittance platform designed specifically for African immigrants in the United Kingdom. This new initiative is Moniepoint’s first major step outside of Africa and is aimed at addressing the financial needs of the African diaspora, particularly in the bustling UK–Nigeria money transfer corridor.
The move comes at a time when Nigerians abroad are sending over $21 billion back home, with the UK contributing nearly half of that total. Moniepoint, known for its success in digitizing payments for small businesses in Nigeria, is now focused on creating a comprehensive financial platform for immigrants who need more than just a way to send money home. CEO Tosin Eniolorunda stressed that MonieWorld is not just a remittance service but a complete immigrant banking platform designed to help migrants settle, save, and build credit in a new financial environment.
While the remittance space is competitive with established players like Send, LemFi, and NALA, Moniepoint stands out with its own infrastructure. The company owns the technology that powers the platform, processing billions of transactions monthly in Nigeria. This allows Moniepoint to offer fast transfers, zero fees, and competitive exchange rates, which are adjusted throughout the day to reflect the best value for users.
MonieWorld is available on both the App Store and Google Play, offering an easy and affordable way for users to send money, pay bills, and make transfers. The app allows payments through various methods, including bank transfers, cards, Apple Pay, and Google Pay, ensuring flexibility for all users.
Despite the crowded market, Moniepoint’s track record of success in Nigeria gives it confidence in its ability to compete globally. With plans to expand further into other countries, MonieWorld aims to become the go-to solution for the African diaspora, providing not just remittance services but a full range of financial tools to support migrants’ economic well-being.
In the future, Moniepoint plans to introduce credit-building services and additional financial solutions to further support immigrants’ needs. The company’s bold move into the UK market signals a promising future as it seeks to reshape the financial landscape for African migrants worldwide.
