TeamApt, a financial technology company has now rebranded as Moniepoint. The financial company made this announcement via its website.
According to the company, this move is made to bring the company closer to the customers. In its words, TeamApt said,
“The Moniepoint brand is already an established and trusted name among its customers base in Nigeria. Thus adopting it as the name means one less layer between the brand and the people it intends to serve.”
Asides from the rebranding, Moniepoint will also move its headquarters to London. This is inspired by its ambition to be an employer of choice globally.
Although it is moving its headquarters to London, it does not plan to provide services in the UK market.
Why Does This Acquisition Of TeamApt Mean To Moniepoint
This acquisition will give Moniepoint enough expansion into the large market such as East Africa and North Africa, where there are millions of business opportunities.
Moniepoint will also expand its product offerings. According to the company, it plans to launch new products including bookkeeping, accounting, and longer-tenured working capital loans. Not only that it is considering international payment collection, amongst others.
The company also added that it is in a prime position to benefit from the cashless policy through its license to operate as a business bank in Nigeria.
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Conclusion
Cardless transfers significantly surpass all other means of electronic payments in Nigeria. To account for this, Moniepoint introduced a new product called “POS Transfer” last year.
This product enables retailers to instantly validate cardless transfers on their terminals and produce a receipt for that transaction.
That said, cashless transactions are not entirely new in the market, and it’s one of the tailwinds that have been driving our business forward.
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