By Juliet Umeh
Businesses across Africa may soon find it easier to receive payments, serve customers and participate in cross-border commerce as Mastercard and TeamApt Ltd, a subsidiary of Moniepoint, move to tackle some of the barriers limiting digital payment adoption.
The companies’ collaboration is designed to expand digital payment acceptance across in-store, online and mobile channels, with micro, small and medium-sized enterprises, MSMEs, expected to be among the biggest beneficiaries.
The partnership comes at a time when businesses are increasingly relying on digital tools to survive and grow, but payment reliability, access to infrastructure and the ability to serve international customers remain major hurdles.
Under the agreement, TeamApt will operate directly on Mastercard’s global payments network as a non-bank acquirer. This will enable the company to onboard credible and licensed entities and provide payment acceptance, transaction processing and acquiring services.
For Nigeria, the development could be significant, with more than 40 million MSMEs operating across the country. Mastercard’s 2026 SME Confidence Index also indicates that small businesses increasingly see digital solutions as critical to scaling their operations.
Country Manager, West Africa, Mastercard, Folasade Femi-Lawal, said the partnership would help businesses compete beyond the limitations of traditional payment systems.
“Expanding digital payment acceptance is one of the fastest ways to support small businesses across Africa to compete, grow, and reach more customers,” she said.
According to her, the collaboration would provide MSMEs and informal businesses with secure infrastructure to process transactions across multiple channels.
She added that bringing more businesses into the digital economy would create opportunities for growth, access to credit and cross-border trade.
For TeamApt, the partnership is also about removing friction from Africa’s fast-growing payments ecosystem.
Chief Executive Officer, TeamApt, Dennis Ajalie, said: “This collaboration with Mastercard represents an important step forward in our commitment to removing barriers within the payments ecosystem.”
He said the partnership would extend TeamApt’s infrastructure capabilities, allowing businesses to accept payments more seamlessly while giving customers greater freedom to transact securely, both locally and internationally.
The integration of TeamApt’s switching infrastructure with Mastercard’s global network is expected to support secure, high-volume transactions across physical and digital channels.
It also means merchants can serve customers using Mastercard cards from different markets, while consumers gain access to more convenient payment options.
TeamApt, a Central Bank of Nigeria-licensed switching and processing company, has operated financial infrastructure for more than a decade, supporting banks, fintechs and other financial institutions.
The company’s wider ecosystem, through Moniepoint, also has extensive agent coverage across Nigeria’s 774 local government areas.
With that reach, the partnership could help push digital payments deeper into Nigeria’s informal economy, where accessibility, reliability and the ability to accept diverse payment methods can determine whether a small business wins or loses a customer.
Beyond simply making payments possible, Mastercard and TeamApt are betting that stronger payment rails can help African businesses sell further, grow faster and compete in an increasingly digital economy
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