Moniepoint triples transactions to 14 billion

In the two years since Moniepoint last publicly shared its transaction figures, the Nigerian fintech unicorn has nearly tripled transaction volume across its subsidiaries, rising from 5.2 billion to over 14 billion, according to an internal company presentation seen by TechCabal. 

Moniepoint averaged 1.67 billion monthly transactions in 2025, a 169.44% jump from the 433 million recorded in 2023, highlighting the rapid growth of Nigeria’s digital payment ecosystem. Those transactions were worth over ₦412 trillion ($294.03 billion), almost double the $150 billion it processed two years ago.

“Today, eight out of 10 in-person payments in Nigeria are made with Moniepoint,” the document read in part. 

Moniepoint’s transaction volumes are a marker of just how quickly digital payments have scaled in Nigeria, especially over the last two years. The fintech unicorn has not been the only beneficiary of this growth. 

According to data seen by TechCabal, the Nigeria Inter-Bank Settlement System (NIBSS), the country’s central payment gateway, processed 9.6 billion transactions, which were worth ₦600 trillion ($428.16 billion) in 2023. 

One year later, it processed ₦1.07 quadrillion ($763.62 billion) in transaction value. Based on Moniepoint’s 2025 figures, the fintech’s total transaction value amounts to 38.51% of NIBSS’s full-year 2024 total.  

Banking outages at commercial banks during core banking migrations in 2024, the 2023 cash scarcity, and several anti-cash policies from the Central Bank of Nigeria (CBN) pushed Nigerians towards fintechs, which were perceived as more reliable for everyday payments. 

Moniepoint, OPay, PalmPay, and other fintechs then reinforced that momentum by investing aggressively in the physical distribution of point-of-sale (POS) devices, helping to drive adoption nationwide. 

“As Nigeria’s largest merchant acquirer, Moniepoint powers most of the country’s POS transactions. Through its subsidiaries, Moniepoint Inc. processes over $250 billion annually,” the presentation read. 

While NIBSS has yet to publish its full-year 2025 figures, transaction value for the first quarter of 2025 alone reached ₦284.99 trillion ($203.49 billion), suggesting that digital payment volumes continued to climb across the system.

High transaction volumes are not new in Nigerian fintech. What is different with Moniepoint is where they are coming from. Like OPay and PalmPay, its growth is powered by the informal economy, provision stores, food sellers, transport operators, petrol stations, and market traders, segments that traditional banks have long struggled to serve.

Moniepoint’s scale has come from making itself indispensable to daily commerce, with its point-of-sale (POS) terminals, instant settlements, and agency banking services woven into how these businesses operate. It has become one of the biggest payment providers for millions of Nigeria’s micro, small, and medium-sized enterprises (MSMEs), which contribute around 45% of the country’s Gross Domestic Product (GDP) and provide more than 80% of jobs. 

Moniepoint’s banking products

Moniepoint first received a microfinance banking licence in February 2022, and in the four years since, the company now claims to serve over six million active businesses and 16 million banked customers. 

In 2025, Moniepoint said it grew its card user base by 200%, with its cards being used 1.7 million times daily. 

Like most banks, Moniepoint has used the depth and breadth of its transaction data to expand into credit. The fintech says it disbursed over ₦1 trillion ($713.66 million) in loans to small businesses in 2025, reporting a 36% increase in transaction value after the loans were issued.

The largest recipients were provision stores, supermarkets, food sellers, building materials merchants, and drink wholesalers, businesses with daily cash turnover but limited access to formal credit. About 30% of these loans are recurring, meaning they take out new loans over time after repaying the first one.

Moniepoint says its non-performing loans remain low, largely because payment data from its platform allows it to underwrite credit for businesses with visible cash-flow patterns, reducing default risk.

To support its lending operations and build deposits, Moniepoint relaunched its savings product in 2025. Adoption, however, has been slower than the company had hoped.

Most users (60%) save daily, reflecting the short cash cycles of informal businesses, with the most common savings targets ranging between ₦200,000 ($143) and ₦500,000 ($357). 

In April 2025, Moniepoint launched Monieworld, a remittance product that allows United Kingdom residents to send money directly to any Nigerian bank account. While Moniepoint did not include Monieworld’s transaction numbers in its presentation, it said that the product’s biggest acquisition vehicle has been word of mouth. 

The company also launched Moniebook, its business management platform, in August 2025, and has since acquired customers such as  Shafa Energy, an energy company, and Fruitylife, a beverage company. 

Moniepoint’s microfinance bank also got its licence upgraded to a national microfinance bank licence in 2025, allowing it to expand its footprint across the country and broaden the range of products that it can offer. 

TeamApt, the company’s switching subsidiary, secured certifications from Visa and Mastercard, allowing it to support international card payments and offer these services to other businesses. 

Moniepoint’s bird’s-eye view 

Given how many transactions it processes for its customers, the startup has gained a real-time, bird’s-eye view of how Nigerians spend money daily. While this view can help shape new products, it also gives the fintech a look into some of Nigerians’ favourite expenses. 

Moniepoint customers spent about ₦2 billion ($1.43 million) a day on food in 2025, totalling more than ₦730 billion ($542.39 million) over the year.

The company also processed over 500,000 data renewals daily, while customers spent ₦90 million ($64,264) daily at gyms.

At bakeries, Nigerians spent over ₦1.7 trillion ($1.21 billion). At bars, clubs, and lounges, transactions occurred at a rate of three per second, totalling more than 90 million transactions daily on Moniepoint’s platforms.