The partnership introduces instantly issued virtual and physical cards denominated in Naira and US Dollars, giving users the ability to create multiple cards within seconds directly from the BMONI app. Built on Mastercard’s global payment infrastructure, the cards are designed for wide international acceptance and can be managed entirely within the app, offering users real-time control over spending, limits, and usage.
The companies say the collaboration reflects a broader push to deepen financial inclusion and meet rising demand for flexible digital payment tools in Nigeria’s fast-growing fintech ecosystem. With the country’s e-commerce sector projected to exceed $26 billion by 2030, demand for globally accepted, multi-currency payment options continues to accelerate.
In addition to speed and accessibility, the system is structured around flexibility. Users can generate several cards for different financial needs—ranging from everyday purchases and subscriptions to travel, freelance income, savings, and international payments—helping them organise spending more efficiently across currencies.
Dr. Folasade Femi-Lawal, country manager for West Africa at Mastercard, emphasized the importance of keeping pace with evolving consumer needs:
“Nigeria’s digital economy is growing rapidly, and consumers need payment solutions that keep pace. Our collaboration with BMONI brings together Mastercard’s trusted global network with an innovative platform like BMONI to deliver real value to consumers, instant card access, multi-currency flexibility and seamless transactions across borders.”
From the fintech side, BMONI says the focus is on removing friction in how people access and use money.
Ashwin Ravichandran, Head of Product at BMONI, said: “At BMONI, our focus has always been simple, which is to remove the friction between people and their money. This collaboration with Mastercard allows us to deliver global access and a level of control that simply has not existed before.”
BMONI describes itself as an AI-powered financial platform built to simplify money management across currencies. The company allows users to hold and spend both Naira and US Dollars through virtual and physical Mastercard-backed cards, with all account controls centralized in its mobile application.
According to the company, “BMONI is an AI-powered financial platform designed to simplify how individuals access, manage, and move money.” It adds that the system supports everyday transactions as well as cross-border payments through a seamless digital experience.
The rollout is already live, with users able to download the BMONI app, complete identity verification, and begin creating cards immediately for global use.