Mono, a leading provider of account-to-account payment solutions, has formed a partnership with Mastercard to introduce DirectPay Pay with Bank on the Mastercard Payment Gateway System (MPGS).
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The Mastercard Payment Gateway service offers developers and businesses access to innovative payment methods, APIs, SDKs, and fraud protection services through a robust, single touch point.
This collaboration enables businesses leveraging Mastercard’s MPGS tools to accept payments in a more innovative way from their customers and provides businesses seeking to offer commercial services in Nigeria with the opportunity to utilize Mono’s account-to-account payment solution.
Mono’s DirectPay Pay with Bank method enables businesses to collect fast and secure account-to-account payments from their users. By leveraging the MPGS solution, businesses delivering services to consumers in Nigeria can seamlessly access Mono DirectPay to collect payments.
The partnership is the result of a sustained relationship between Mono and Mastercard, following Mono’s acceptance into the inaugural StartPath Open Banking program in Africa. This program provided Mono with access to Mastercard’s technology, network, and expertise.
For Mono, the partnership signifies an opportunity to expand the scale of its Pay with Bank offering, address evolving consumer and business needs, receive valuable feedback from diverse businesses, deepen its Open Banking expertise, and contribute to the future of digital commerce and payments in Africa.
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