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Every 30 seconds on average, a new Moniepoint terminal gets activated for a merchant.聽</p><p>Historically African businesses have not gotten the necessary support they need to grow from banks or other financial services providers, resulting in low penetration of digital payments solutions compared to businesses in the US, Europe, India etc.聽</p><p>Despite this lack of support, the reality is that businesses seek out the necessary means to grow without reservation, often turning to more informal options. Now, they鈥檙e making choices that are setting them on par with the rest of the globe.聽</p><p></p><h2>The digital payment dilemma</h2><p>Digital payment acceptance hasn鈥檛 been the natural choice for many small businesses in Nigeria and across Africa, and for valid reasons such as ease of use, reliability and prevalence of fraud. Poor reliability usually leads to a significant rate of failed or fraudulent transactions that tie up the working capital for small businesses as they wait for chargeback issues or fraud disputes to be resolved.聽</p><p>Digital transactions can also be costly, and for many small businesses, it鈥檚 a price that鈥檚 too high to pay. This is why they tend to stick to physical cash payments where they instantly get their value and with limited chances of fraud.</p><p>So why should small businesses adopt digital transactions?聽</p><p>New regulations in Nigeria have seen business owners turn towards alternative means to accept payments from their customers, and we鈥檝e been the solution they can depend on.聽</p><p></p><p></p><h2>Meeting pain points with Moniepoint</h2><p>Although digital payment solutions have always existed, they haven鈥檛 quite been the SME-friendly alternative to cash that these businesses need. That鈥檚 what we decided to do differently.</p><p>Smooth payment acceptance equals running a business smoothly. Merchants turn to us because having a solution with minimal downtimes and payments that always go through means less stress for the business owners. And in turn, their customers associate these businesses with seamless payments and keep returning to the business with the blue terminal that they can rely on.</p><p>These businesses realise this, and that鈥檚 why we鈥檝e been a pivotal part of their evolution. Our fundamental understanding of the Nigerian payments processing infrastructure enabled us to solve the reliability pain point for businesses. We did this by pioneering dynamic transaction switching, giving businesses one of the most reliable platforms in Nigeria with a 99.9% uptime.</p><p></p><img src="https://media.graphassets.com/N2n6sKD4RuWfuLA0rE03" alt="331388476_1277433239652648_6759821550533270717_n.png" title="331388476_1277433239652648_6759821550533270717_n.png" width="1080" height="1324" /><p>The outcome?</p><p>Every 30 seconds on average, a new Moniepoint terminal gets activated for a merchant. Whether it鈥檚 a supermarket, restaurant, fruit store, or even, sometimes, the small shop next door that you might overlook, these businesses are taking control of their finances through Moniepoint.</p><p></p><img src="https://media.graphassets.com/xINM5tAStqsLxp1DTxvr" alt="Justrite pos.jpg" title="Justrite pos.jpg" width="958" height="1280" /><p></p><img src="https://media.graphassets.com/HRXXFdGKT7ivAg51Vlft" alt="328435076_877806163438391_5030480733653691113_n.jpg" title="328435076_877806163438391_5030480733653691113_n.jpg" width="1600" height="1067" /><p></p><p></p><img src="https://media.graphassets.com/qNY1BMdcRuWxHSBjiOQQ" alt="Mobil Merchant_44.jpg" title="Mobil Merchant_44.jpg" width="1066" height="1600" /><p>Our聽<a title="https://2022.moniepoint.com/" href="https://2022.moniepoint.com/"><u>2022 year-in-review</u></a> showed the scale to which we鈥檝e been able to support these businesses, providing them with a comprehensive solution for all their business needs. And as these businesses evolve, we鈥檙e happy to help them every step of the way.<br><br><br></p><p></p><p></p><p></p></div><aside class="article_article-main-aside__VMvUW"><p>Share</p><div class="article_article-left-sc__vWgap"><button aria-label="telegram" style="background-color:transparent;border:none;padding:0;font:inherit;color:inherit;cursor:pointer;outline:none"><img src="/blog/telegram.svg" alt=""/></button><button aria-label="twitter" style="background-color:transparent;border:none;padding:0;font:inherit;color:inherit;cursor:pointer;outline:none"><img src="/blog/twitter.svg" alt=""/></button><button aria-label="facebook" style="background-color:transparent;border:none;padding:0;font:inherit;color:inherit;cursor:pointer;outline:none"><img src="/blog/facebook.svg" alt=""/></button><button><svg width="16" height="16" viewBox="0 0 16 16" fill="none" xmlns="http://www.w3.org/2000/svg"><g clip-path="url(#clip0_1071_19383)"><path d="M9.33203 14.6667H3.33203C2.9637 14.6667 2.66536 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Okoyomoh</p></div></a><a class="blog_blog-item__H40aR" href="/blog/simplifying-payments-for-anaborhi-a-women-focused-nigerian-business"><img draggable="false" alt="Simplifying payments for Anaborhi, a women-focused Nigerian business." loading="lazy" width="404" height="316" decoding="async" data-nimg="1" class="Image_img__GXm1C" style="color:transparent;--width:404;--height:316" src="https://media.graphassets.com/output=format:webp/HGKVpIn9SVKWdgkVzi0L"/><div class="blog_blog-item-div__VxhwG"><div class="blog_blog-item-hd__kHJTC"><h6>Impact Stories</h6><p>April 03, 2024</p></div><h4 class="blog_blog-item-h4__5Kd28">Simplifying payments for Anaborhi, a women-focused Nigerian business.</h4><p class="blog_blog-item-p__Y4_cj">by Victory Okoyomoh</p></div></a><a class="blog_blog-item__H40aR" href="/blog/case-study-on-family-owned-businesses"><img draggable="false" alt="Case study: A deep dive into Nigeria's family-owned businesses." loading="lazy" width="404" height="316" decoding="async" 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Now, they鈥檙e making choices that are setting them on par with the rest of the globe.聽\u003c/p\u003e\u003cp\u003e\u003c/p\u003e\u003ch2\u003eThe digital payment dilemma\u003c/h2\u003e\u003cp\u003eDigital payment acceptance hasn鈥檛 been the natural choice for many small businesses in Nigeria and across Africa, and for valid reasons such as ease of use, reliability and prevalence of fraud. Poor reliability usually leads to a significant rate of failed or fraudulent transactions that tie up the working capital for small businesses as they wait for chargeback issues or fraud disputes to be resolved.聽\u003c/p\u003e\u003cp\u003eDigital transactions can also be costly, and for many small businesses, it鈥檚 a price that鈥檚 too high to pay. This is why they tend to stick to physical cash payments where they instantly get their value and with limited chances of fraud.\u003c/p\u003e\u003cp\u003eSo why should small businesses adopt digital transactions?聽\u003c/p\u003e\u003cp\u003eNew regulations in Nigeria have seen business owners turn towards alternative means to accept payments from their customers, and we鈥檝e been the solution they can depend on.聽\u003c/p\u003e\u003cp\u003e\u003c/p\u003e\u003cp\u003e\u003c/p\u003e\u003ch2\u003eMeeting pain points with Moniepoint\u003c/h2\u003e\u003cp\u003eAlthough digital payment solutions have always existed, they haven鈥檛 quite been the SME-friendly alternative to cash that these businesses need. That鈥檚 what we decided to do differently.\u003c/p\u003e\u003cp\u003eSmooth payment acceptance equals running a business smoothly. Merchants turn to us because having a solution with minimal downtimes and payments that always go through means less stress for the business owners. And in turn, their customers associate these businesses with seamless payments and keep returning to the business with the blue terminal that they can rely on.\u003c/p\u003e\u003cp\u003eThese businesses realise this, and that鈥檚 why we鈥檝e been a pivotal part of their evolution. Our fundamental understanding of the Nigerian payments processing infrastructure enabled us to solve the reliability pain point for businesses. We did this by pioneering dynamic transaction switching, giving businesses one of the most reliable platforms in Nigeria with a 99.9% uptime.\u003c/p\u003e\u003cp\u003e\u003c/p\u003e\u003cimg src=\"https://media.graphassets.com/N2n6sKD4RuWfuLA0rE03\" alt=\"331388476_1277433239652648_6759821550533270717_n.png\" title=\"331388476_1277433239652648_6759821550533270717_n.png\" width=\"1080\" height=\"1324\" /\u003e\u003cp\u003eThe outcome?\u003c/p\u003e\u003cp\u003eEvery 30 seconds on average, a new Moniepoint terminal gets activated for a merchant. Whether it鈥檚 a supermarket, restaurant, fruit store, or even, sometimes, the small shop next door that you might overlook, these businesses are taking control of their finances through Moniepoint.\u003c/p\u003e\u003cp\u003e\u003c/p\u003e\u003cimg src=\"https://media.graphassets.com/xINM5tAStqsLxp1DTxvr\" alt=\"Justrite pos.jpg\" title=\"Justrite pos.jpg\" width=\"958\" height=\"1280\" /\u003e\u003cp\u003e\u003c/p\u003e\u003cimg src=\"https://media.graphassets.com/HRXXFdGKT7ivAg51Vlft\" alt=\"328435076_877806163438391_5030480733653691113_n.jpg\" title=\"328435076_877806163438391_5030480733653691113_n.jpg\" width=\"1600\" height=\"1067\" /\u003e\u003cp\u003e\u003c/p\u003e\u003cp\u003e\u003c/p\u003e\u003cimg src=\"https://media.graphassets.com/qNY1BMdcRuWxHSBjiOQQ\" alt=\"Mobil Merchant_44.jpg\" title=\"Mobil Merchant_44.jpg\" width=\"1066\" height=\"1600\" /\u003e\u003cp\u003eOur聽\u003ca title=\"https://2022.moniepoint.com/\" href=\"https://2022.moniepoint.com/\"\u003e\u003cu\u003e2022 year-in-review\u003c/u\u003e\u003c/a\u003e showed the scale to which we鈥檝e been able to support these businesses, providing them with a comprehensive solution for all their business needs. And as these businesses evolve, we鈥檙e happy to help them every step of the way.\u003cbr\u003e\u003cbr\u003e\u003cbr\u003e\u003c/p\u003e\u003cp\u003e\u003c/p\u003e\u003cp\u003e\u003c/p\u003e\u003cp\u003e\u003c/p\u003e","text":"If you think you read that title wrong, not really. Every 30 seconds on average, a new Moniepoint terminal gets activated for a merchant.聽\\nHistorically African businesses have not gotten the necessary support they need to grow from banks or other financial services providers, resulting in low penetration of digital payments solutions compared to businesses in the US, Europe, India etc.聽\\nDespite this lack of support, the reality is that businesses seek out the necessary means to grow without reservation, often turning to more informal options. Now, they鈥檙e making choices that are setting them on par with the rest of the globe.聽\\n\\nThe digital payment dilemma\\nDigital payment acceptance hasn鈥檛 been the natural choice for many small businesses in Nigeria and across Africa, and for valid reasons such as ease of use, reliability and prevalence of fraud. Poor reliability usually leads to a significant rate of failed or fraudulent transactions that tie up the working capital for small businesses as they wait for chargeback issues or fraud disputes to be resolved.聽\\nDigital transactions can also be costly, and for many small businesses, it鈥檚 a price that鈥檚 too high to pay. This is why they tend to stick to physical cash payments where they instantly get their value and with limited chances of fraud.\\nSo why should small businesses adopt digital transactions?聽\\nNew regulations in Nigeria have seen business owners turn towards alternative means to accept payments from their customers, and we鈥檝e been the solution they can depend on.聽\\n\\n\\nMeeting pain points with Moniepoint\\nAlthough digital payment solutions have always existed, they haven鈥檛 quite been the SME-friendly alternative to cash that these businesses need. That鈥檚 what we decided to do differently.\\nSmooth payment acceptance equals running a business smoothly. Merchants turn to us because having a solution with minimal downtimes and payments that always go through means less stress for the business owners. And in turn, their customers associate these businesses with seamless payments and keep returning to the business with the blue terminal that they can rely on.\\nThese businesses realise this, and that鈥檚 why we鈥檝e been a pivotal part of their evolution. Our fundamental understanding of the Nigerian payments processing infrastructure enabled us to solve the reliability pain point for businesses. We did this by pioneering dynamic transaction switching, giving businesses one of the most reliable platforms in Nigeria with a 99.9% uptime.\\n\\n\\nThe outcome?\\nEvery 30 seconds on average, a new Moniepoint terminal gets activated for a merchant. Whether it鈥檚 a supermarket, restaurant, fruit store, or even, sometimes, the small shop next door that you might overlook, these businesses are taking control of their finances through Moniepoint.\\n\\n\\n\\n\\n\\n\\n\\nOur聽\\n2022 year-in-review\\n showed the scale to which we鈥檝e been able to support these businesses, providing them with a comprehensive solution for all their business needs. And as these businesses evolve, we鈥檙e happy to help them every step of the way.\n\n\n\\n\\n\\n"},"coverImage":{"__typename":"Asset","url":"https://media.graphassets.com/output=format:webp/XaPxjZqUTmmVStAyUnU4"},"slug":"we-activate-a-new-terminal-every-30-seconds-what-this-means-for-digital-payments-in-africas-largest-economy","title":"We activate a new terminal every 30 seconds; what this means for digital payments in Africa鈥檚 largest economy.","date":"2023-02-22","category":{"__typename":"Category","categoryName":"Impact Stories"},"topStoryCoverImage":{"__typename":"Asset","url":"https://media.graphassets.com/output=format:webp/FJRDI4dhSomJ15B6cST4"},"metadata":null},"similarArticles":[{"__typename":"Post","title":"Bringing Joseph鈥檚 business back from the edge","author":{"__typename":"Author","name":"Victory Okoyomoh","slug":"victory-okoyomoh"},"slug":"bringing-josephs-business-back-from-the-edge","date":"2024-08-16","category":{"__typename":"Category","categoryName":"Impact Stories"},"coverImage":{"__typename":"Asset","url":"https://media.graphassets.com/output=format:webp/U7TNbnu2TJqucctgsDK7"}},{"__typename":"Post","title":"Simplifying payments for Anaborhi, a women-focused Nigerian business.","author":{"__typename":"Author","name":"Victory Okoyomoh","slug":"victory-okoyomoh"},"slug":"simplifying-payments-for-anaborhi-a-women-focused-nigerian-business","date":"2024-04-03","category":{"__typename":"Category","categoryName":"Impact Stories"},"coverImage":{"__typename":"Asset","url":"https://media.graphassets.com/output=format:webp/HGKVpIn9SVKWdgkVzi0L"}},{"__typename":"Post","title":"Case study: A deep dive into Nigeria's family-owned businesses.","author":{"__typename":"Author","name":"Emmanuel Paul","slug":"emmanuel-paul"},"slug":"case-study-on-family-owned-businesses","date":"2024-03-19","category":{"__typename":"Category","categoryName":"Impact Stories"},"coverImage":{"__typename":"Asset","url":"https://media.graphassets.com/output=format:webp/3XwY2PrnQf61iY9RXLO8"}}]},"__N_SSG":true},"page":"/blog/[slug]","query":{"slug":"we-activate-a-new-terminal-every-30-seconds-what-this-means-for-digital-payments-in-africas-largest-economy"},"buildId":"-qG24FWEd86Kq1BypKPnE","isFallback":false,"dynamicIds":[3399,5814,9601,9041,8736],"gsp":true,"customServer":true,"scriptLoader":[]}</script><script nomodule="" src="/_next/static/chunks/polyfills-c67a75d1b6f99dc8.js"></script><script async="" src="/_next/static/chunks/5814.dc88a4fb52f3d5c8.js"></script><script async="" src="/_next/static/chunks/9601.830ebd5fc4618af8.js"></script><script async="" src="/_next/static/chunks/9041.a536dd0e160624f2.js"></script><script async="" src="/_next/static/chunks/461.36089db2280e4bf5.js"></script><script src="/_next/static/chunks/webpack-69db0f6bfd80ec27.js" async=""></script><script src="/_next/static/chunks/framework-9387e000915d7b64.js" async=""></script><script src="/_next/static/chunks/main-200559bed160a735.js" async=""></script><script src="/_next/static/chunks/pages/_app-369fdcc3ff266e26.js" async=""></script><script src="/_next/static/chunks/75fc9c18-8a1f02a78dd8d0bf.js" async=""></script><script src="/_next/static/chunks/94726e6d-e2c5216b63813317.js" async=""></script><script src="/_next/static/chunks/8404-a1184c33f2ad5142.js" async=""></script><script src="/_next/static/chunks/2465-79db34de84f3cbea.js" async=""></script><script src="/_next/static/chunks/1818-a5bd1f2ab16c283a.js" async=""></script><script src="/_next/static/chunks/4243-3f611bde2df5de82.js" async=""></script><script src="/_next/static/chunks/pages/blog/%5Bslug%5D-65620ec384efa7fe.js" async=""></script><script src="/_next/static/-qG24FWEd86Kq1BypKPnE/_buildManifest.js" async=""></script><script src="/_next/static/-qG24FWEd86Kq1BypKPnE/_ssgManifest.js" async=""></script></body></html>