Payment Gateway Set as Payment Platform for Businesses

The Vice President, Monnify Payment Gateway, Damilare Ogunnaike has said Monnify is designed to operate seamlessly without challenges like failed transactions, delayed confirmation and lack of value for money transferred, describing it as the preferred payment platform for Nigeria’s digital businesses.

Statistics showed that in 2025, Monnify processed N25 trillion in transactions, about $18 billion, representing a 38 per cent increase from 2023.

“The growth came during a period when Nigerian businesses were dealing with currency volatility, rising costs, and increasing pressure on infrastructure to perform consistently. Monnify did not just handle that demand, it grew within it. It became more relied on when reliability mattered most,” Ogunnaike said in a statement.

According to him, “Monnify sits within TeamApt, the technology infrastructure arm of Moniepoint. Monnify is its payment gateway service built for businesses that need to collect and disburse money at scale. Its customer base reflects the breadth of Nigeria’s digital economy. On the fintech side, companies like PiggyVest, Cowrywise, Bamboo, Rise, and Nomba are part of the platform’s ecosystem.