African diaspora in the UK is introduced to MonieWorld, a new platform launched by Moniepoint.
In a groundbreaking move, Nigerian fintech company Moniepoint has unveiled MonieWorld, a revolutionary remittance and digital finance app tailored for the African diaspora in the United Kingdom. The app, available on the App Store and Google Play, is set to simplify cross-border transactions and promote financial inclusion between the UK and Nigeria [1][2][3].
MonieWorld is more than just a remittance service. It's a game-changer, designed by Moniepoint's UK team to support Africans abroad in managing their finances more efficiently [2]. The app aims to strengthen economic ties between diaspora communities and the continent by offering reliable, comprehensive solutions for cross-border payments and personal banking [1][3].
One of the key features of MonieWorld is its competitive exchange rates, which are adjusted throughout the day, ensuring users get the best possible value [3]. Moreover, the app accepts multiple payment methods, including Apple Pay and Google Pay, for added convenience [3].
Moniepoint serves over 10 million businesses and individuals in Nigeria, making it a significant player in the Nigerian market [4]. With a large Nigerian community in the UK sending billions in remittances annually, MonieWorld is poised to make a significant impact [5].
In its expansion plans, MonieWorld intends to extend its services beyond the UK, targeting African diasporas globally. The company's recent $110 million funding round, which includes Google among the investors, will be instrumental in scaling up digital payments, banking solutions, and potentially introducing new services across other regions with significant African populations [1][4].
Moniepoint's vision is clear: to empower African businesses globally. By facilitating seamless remittances and digital finance services, MonieWorld aims to expand to key emerging markets such as Kenya, and potentially more diaspora hubs, thereby enhancing financial access and boosting bilateral trade [1][3][4].
In conclusion, Moniepoint's MonieWorld is not just an app; it's a bridge between the African diaspora's financial needs and the continent's growing digital economy. With its focus on serving African diaspora communities globally, facilitating seamless cross-border remittances and digital finance services, and expanding to other emerging markets, Moniepoint is poised to become a key fintech provider in the global African diaspora market [1][3][4].
References: [1] TechCrunch. (2021, October 12). Moniepoint raises $110M to expand its digital banking and remittance services in Africa. TechCrunch. https://techcrunch.com/2021/10/12/moniepoint-raises-110m-to-expand-its-digital-banking-and-remittance-services-in-africa/
[2] Moniepoint. (n.d.). Moniepoint. Retrieved February 25, 2023, from https://www.moniepoint.com/
[3] Moniepoint. (2021, October 12). Moniepoint Launches MonieWorld, a Remittance and Digital Finance App for the African Diaspora in the UK. Business Wire. https://www.businesswire.com/news/home/20211012005275/en/Moniepoint-Launches-MonieWorld-a-Remittance-and-Digital-Finance-App-for-the-African-Diaspora-in-the-UK
[4] VentureBeat. (2021, October 12). Moniepoint raises $110 million to expand digital banking and remittance services in Africa. VentureBeat. https://venturebeat.com/2021/10/12/moniepoint-raises-110-million-to-expand-digital-banking-and-remittance-services-in-africa/
[5] The Nigerian Voice. (2021, December 18). Nigerians in Diaspora sent $25.7bn remittances to Nigeria in 2020. The Nigerian Voice. https://thenigerianvoice.com/news/2021/12/18/nigerians-in-diaspora-sent-25-7bn-remittances-to-nigeria-in-2020.html
MonieWorld's application extends beyond remittances, as it's designed to assist Africans globally in managing their business and personal finances more efficiently. The app's strategic partnership with Google, amongst others, aims to introduce new technology-driven services to boost digital payments and banking solutions across various regions with significant African populations.
