Moniepoint, one of Nigeria’s fastest-growing fintech companies, has recorded a substantial rise in transaction volume across its subsidiaries over the past two years, according to an internal company presentation. The figures show that the company’s transaction volume has almost tripled, increasing from 5.2 billion transactions in 2023 to more than 14 billion in 2025.
The figures highlight the rapid growth of Nigeria’s digital payments ecosystem. Moniepoint averaged 1.67 billion monthly transactions in 2025, representing a 169.44% increase from the 433 million transactions recorded in 2023. The total value of these transactions also rose sharply, reaching over ₦412 trillion ($294.03 billion) in 2025—nearly double the $150 billion processed two years earlier.
The internal document further claims that “eight out of 10 in-person payments in Nigeria are made with Moniepoint,” underscoring the company’s dominance in the merchant payment space. Moniepoint has grown by strengthening its physical presence through point-of-sale (POS) devices and agency banking services, particularly among small businesses in the informal sector.
The company’s transaction growth mirrors broader trends in the Nigerian payments industry. Data from the Nigeria Inter-Bank Settlement System (NIBSS) indicates that digital payment activity has surged nationwide. In 2023, NIBSS processed 9.6 billion transactions valued at ₦600 trillion ($428.16 billion). By 2024, the total transaction value increased to ₦1.07 quadrillion ($763.62 billion), reflecting the expanding adoption of digital payments.
Based on Moniepoint’s 2025 figures, the fintech’s total transaction value accounts for roughly 38.51% of NIBSS’s full-year 2024 total, signalling its significant market share in Nigeria’s payment infrastructure.
Experts attribute the shift toward fintechs to several factors, including banking outages during core banking migrations in 2024, the cash scarcity crisis in 2023, and ongoing anti-cash policies from the Central Bank of Nigeria. These developments pushed many Nigerians toward fintech platforms, which are often seen as more reliable for daily transactions.
Moniepoint has reinforced this momentum by aggressively expanding its POS network and agent services, positioning itself as a major payment provider for Nigeria’s informal economy, including provision stores, food sellers, transport operators, petrol stations, and market traders. These segments, which traditional banks have historically struggled to serve, now represent a core driver of the fintech’s growth.
Moniepoint’s leadership described the company as Nigeria’s largest merchant acquirer. “Through its subsidiaries, Moniepoint Inc. processes over $250 billion annually,” the presentation states.
While NIBSS has not yet released full-year 2025 data, its first-quarter figures suggest continued growth. Transaction value for Q1 2025 alone reached ₦284.99 trillion ($203.49 billion), indicating that digital payments are continuing to expand across the system.
Expansion into Banking and Credit
Moniepoint’s growth has also extended into banking services. After receiving a microfinance banking licence in February 2022, the company now claims to serve more than six million active businesses and 16 million banked customers.
In 2025, Moniepoint reported a 200% growth in its card user base, with cards used 1.7 million times daily. The company has also expanded into lending, using transaction data to underwrite loans to small businesses. Moniepoint says it disbursed over ₦1 trillion ($713.66 million) in loans in 2025, with a 36% increase in transaction value observed after loan disbursements.
The loans were primarily distributed to businesses such as provision stores, supermarkets, food sellers, and building materials merchants—sectors with high cash turnover but limited access to formal credit. About 30% of these loans were recurring, with borrowers taking new loans after repaying previous ones.
Moniepoint maintains that its non-performing loans remain low due to its data-driven underwriting approach, which assesses businesses based on visible cash-flow patterns.
To support lending and deposit growth, Moniepoint relaunched its savings product in 2025, although adoption has been slower than anticipated. The company noted that 60% of users save daily, reflecting the short cash cycles typical of informal businesses, with most savings targets ranging between ₦200,000 and ₦500,000.
New Products and National Expansion
In April 2025, Moniepoint introduced Monieworld, a remittance product allowing UK residents to send money directly to Nigerian bank accounts. While transaction figures for Monieworld were not disclosed, the company noted that word-of-mouth has driven its adoption.
Moniepoint also launched Moniebook, a business management platform, in August 2025, attracting customers such as Shafa Energy and Fruitylife. Additionally, its microfinance bank licence was upgraded to a national microfinance bank licence, enabling nationwide expansion and a broader range of financial products.
TeamApt, Moniepoint’s switching subsidiary, secured Visa and Mastercard certifications, enabling it to support international card payments and offer services to other businesses.
Insight into Consumer Spending
Moniepoint’s transaction data offers a unique view of consumer spending patterns in Nigeria. In 2025, customers spent about ₦2 billion daily on food, totaling more than ₦730 billion for the year. The platform also processed over 500,000 data renewals daily, while gym-related spending reached ₦90 million daily.
At bakeries, transactions exceeded ₦1.7 trillion for the year. In bars, clubs, and lounges, transactions occurred at a rate of three per second, contributing to more than 90 million daily transactions across Moniepoint’s platforms.
As Nigeria’s digital payment ecosystem continues to evolve, Moniepoint’s growth highlights the rising influence of fintech in everyday commerce, especially within the informal sector.