Nigerian consumers gain access to instant global payment cards in Mastercard-BMONI deal

Mastercard has partnered with BMONI, a financial technology platform, to launch virtual and physical payment cards to expand access to local and international transactions for consumers in Nigeria.

The collaboration will allow users to create Naira- and dollar-denominated cards through the BMONI application, with card issuance and management handled within the platform. Mastercard’s payment network powers the cards and can be used for transactions across global merchants and digital platforms.

The initiative comes as demand for digital payment solutions rises in Nigeria, driven by the expansion of e-commerce and cross-border digital services. Industry projections show Nigeria’s e-commerce market could exceed $26 billion by 2030, increasing the need for payment tools that support international spending and online transactions.

According to the companies, the offering is among the first locally issued international card programmes introduced under Mastercard’s new card issuance framework for fintech firms in Nigeria.

Read also:Fintech Powers Gaming Future as EGC 2026 Takes Center Stage

Mastercard said the partnership reflects the shift in consumer demand toward faster and more flexible payment options.

“Nigeria’s digital economy is growing rapidly, and consumers need payment solutions that keep pace,” said Folasade Femi-Lawal, country manager and area business head for West Africa at Mastercard. “Our collaboration with BMONI brings together Mastercard’s global network with an innovative platform like BMONI to deliver instant card access, multi-currency flexibility and seamless transactions across borders.”

BMONI said the platform is designed to give users more control over how they manage spending by enabling the creation of multiple cards for different purposes, including subscriptions, travel, savings, remote work and cross-border payments.

BMONI said the cards can be generated within seconds after users complete identity verification on the app.

“At BMONI, our focus has always been to remove the friction between people and their money,” said Ashwin Ravichandran. “This collaboration with Mastercard allows us to deliver global access and a level of control that has not existed before.”