Nigerian fintech firm Moniepoint says it processed transactions worth N412 trillion in 2025 and issued over N1 trillion in loans to small businesses, underlining its expanding influence in the country’s retail payments and credit space at a time when bank lending has become more restrictive. The company disclosed that it handled more than 14 billion transactions over the year and currently supports roughly 80 per cent of in-person payments across Nigeria, highlighting the growing concentration of payment activity among a handful of fintech platforms.
This scale mirrors wider changes in Nigeria’s payments ecosystem, where point-of-sale terminals and digital transfers now dominate daily commercial activity, spanning everything from small neighbourhood stores to open markets. Industry analysts note that fintech-driven acquiring has advanced more rapidly than traditional banking infrastructure, particularly within informal and semi-formal retail sectors.
Established in 2015, Moniepoint has transitioned from a backend technology service provider into the country’s largest merchant acquirer. It now offers a range of services—including payments, banking, credit, foreign exchange and business management tools—to more than six million active businesses nationwide. The company’s dominance in payments has also bolstered its expansion into related financial services. By leveraging transaction data and business behaviour insights, Moniepoint has increased access to credit for small enterprises often overlooked by banks. Through its microfinance banking arm, it disbursed over N1 trillion in loans in 2025, according to the firm.
“Our priority has been to build infrastructure that aligns with how businesses actually function,” said founder and chief executive Tosin Eniolorunda, citing the widespread nature of informal trade in Nigeria. During the year, Moniepoint raised more than $200 million in a Series C funding round supported by investors such as Development Partners International, Google’s Africa Investment Fund, Visa, the International Finance Corporation and Verod Capital. The funding is aimed at expanding its payments and financial services footprint.
In addition to merchant acquiring, Moniepoint said its switching and processing arm, TeamApt Ltd, obtained licences from Mastercard and Visa to operate as a processor and acquirer. This allows it to manage international card transactions and offer switching services to businesses across Africa. The company added that its web payments platform, Monnify, processed N25 trillion in transactions in 2025. As Nigeria continues to promote digital payment adoption, Moniepoint’s rising share of retail transactions illustrates both the scale fintech firms have achieved and the growing role of non-bank institutions in the nation’s financial system.
