Can Moniepoint Receive Money from Abroad? Yes

Moniepoint Microfinance Bank is a microfinance bank that leverages innovative technology to provide financial services to small and medium-sized businesses in Nigeria. Moniepoint MFB is licensed and regulated by Central Bank of Nigeria. 

Moniepoint MFB Services

Licensed in February 2022, Moniepoint helps over 1.5 million businesses with banking, payments processing, access to loans and business management tools. With these solutions, businesses on the moniepoint platform process about 8 trillion Naira monthly.

Moniepoint MFB as a Fintech operates the largest distribution network for financial services in Nigeria,  and was awarded the most inclusive payment platform in the country by CBN in 2022.

Moniepoint operates agency banking. More than 33 million people use their cards on Moniepoint POS terminals monthly across every local government in Nigeria.

Moniepoint provides payment gateway services through which businesses can accept payments on their websites apps.

In August 2023, Moniepoint launched Personal banking product to further support the businesses that use its products, by banking their customers and employees. Through this product, individual users can get reliable cards, as well as bank accounts for transfers and bill payments.

How to Receive Foreign Currencies on Moniepoint

Moniepoint gives account number to its customers. Customers can use their account numbers to receive money in Nigeria, and wire transfer from abroad. 

Businesses that have Monnify virtual card, a payment gateway by Moniepoint, can use it to receive payments on their websites or apps. If you have foreign customers, they can make payments to you on your website or app using their local currency card so long as their cards support international payments. The conversion will be done automatically using the prevailing exchange rate, while your account will be credited in Naira.

What is Monnify?

Monnify is a payment gateway for businesses to accept payments from customers, either on a recurring or one-time basis. Monnify offers an easier, faster and cheaper way for businesses to get paid on their web and mobile applications using convenient payment methods for customers with the highest success rates obtainable in Nigeria.

Web SDK

You can collect payments from your customers via cards and account transfers on your web platform by easily integrating Monnify web SDK.

Mobile SDK

Monnify’s mobile SDK allows you to receive card and account transfer payments from your customers in-app.