Mastercard and TeamApt Ltd., a Nigerian fintech company and Moniepoint subsidiary, have entered a strategic collaboration to strengthen digital payment capabilities for businesses and financial institutions across Africa.
Folasade Femi-Lawal, Mastercard’s Country Manager, West Africa, disclosed this in a statement on Thursday.
Femi-Lawal said that as part of the collaboration, TeamApt, a financial infrastructure and payment solutions provider, would function directly on Mastercard’s global payments network as a non-bank acquirer.
She said that this would enhance TeamApt’s ability to onboard credible and licensed entities to deliver seamless payment acceptance, transaction processing and acquiring services.
Mastercard Inc. is an American multinational payment card services corporation that provides payment transaction processing and other related payment services, including travel-related payments and bookings.
Femi-Lawal noted that this collaboration would further expand MasterCard’s card acceptance infrastructure, allowing more merchants to accept its payments across in-store, online and mobile channels.
“The collaboration integrates TeamApt’s switching infrastructure with Mastercard’s network to facilitate secure, high-volume transactions across online and in-store channels.
“With Nigeria being home to more than 40 million Micro, Small, and Medium-sized enterprises (MSMEs) and small businesses identifying digital solutions as vital to scaling, according to Mastercard’s 2026 SME Confidence Index, expanding payment acceptance remains an important opportunity for growth.
“By combining TeamApt’s deep local market expertise with Mastercard’s global scale, businesses and individuals will benefit from more reliable transactions, stronger security and faster, safer and more accessible digital payment experiences.
“Expanding digital payment acceptance is one of the fastest ways to support small businesses across Africa to compete, grow, and reach more customers.
“By working with TeamApt, we are equipping MSMEs and informal sector businesses in Nigeria with robust, secure infrastructure to seamlessly process transactions across multiple channels,” she said.
According to Femi-Lawal, the collaboration brings more businesses into the digital economy, unlocking vital new opportunities for growth, credit access and cross-border trade.
Also, Dennis Ajalie, Chief Executive Officer of TeamApt., noted that its collaboration with Mastercard represented an important step forward in its commitment to removing barriers within the payments ecosystem.
“For years, TeamApt has focused on building infrastructure that helps financial institutions and businesses grow with confidence.
“By working closely with Mastercard, we are extending those capabilities, enabling businesses to accept payments more seamlessly and giving users the freedom to transact securely, both locally and internationally,” he stressed.
Ajalie explained that the collaboration also delivered international value, enabling Mastercard cards supported by TeamApt’s infrastructure to be used across millions of merchant locations worldwide.
He said that customers would gain the convenience of secure global payments, while merchants could more easily serve both local and international customers.
Ajalie said, “TeamApt, a Central Bank of Nigeria (CBN)-licensed switching and processing company, has, for over a decade, built and operated critical financial infrastructure that powers banks, fintechs and other institutions.
“The company’s technology supports secure and reliable transaction processing across multiple payment channels, enabling businesses and consumers to participate more easily in the digital economy.
“This collaboration further underscores the strength of Moniepoint’s ecosystem.
“With operations and agent coverage across all 774 local government areas in Nigeria, Moniepoint has established one of the nation’s most extensive financial services networks, positioning the group to drive meaningful scale and adoption of digital payment solutions,” Ajalie added.
