RismadarVoice Reporters, May 30, 2026
Mastercard and AI-powered fintech platform, BMONI have announced a strategic collaboration to introduce instant virtual and physical payment cards in Nigeria, aimed at improving access to seamless local and international transactions.
The new solution allows users to instantly generate multiple Naira and US dollar-denominated cards that are globally accepted for online and offline payments. The cards can be created and managed directly through the BMONI mobile application, with activation completed within seconds.
The initiative is one of the early implementations of Mastercard’s enhanced card issuance model in Nigeria, designed to support fintech innovation and accelerate digital payment adoption across emerging markets.
According to both companies, the partnership responds to the growing demand for efficient cross-border payment systems, driven by the expansion of Nigeria’s e-commerce sector, which is projected to exceed $26 billion by 2030.
Mastercard’s Country Manager for West Africa, Dr Folasade Femi-Lawal, said the collaboration combines Mastercard’s global payment infrastructure with BMONI’s digital platform to deliver faster, more flexible, and more secure payment options for consumers.
She noted that the solution is designed to meet the evolving needs of Nigerian users who require instant access to multi-currency payment tools for both local and international transactions.
BMONI’s Head of Product, Ashwin Ravichandran, said the platform was developed to eliminate friction in financial transactions and give users greater control over how they manage their money.
He explained that the new card system enables users to create multiple cards for different purposes, including everyday purchases, subscriptions, travel, savings, and remote work payments, helping them better organise and track spending in real time.
Industry stakeholders say the innovation reflects a broader shift in Nigeria’s financial ecosystem toward digital-first solutions, as fintech companies continue to expand services that support global commerce and cross-border financial activity.
The BMONI Mastercard solution is now available to users, who can access it by downloading the BMONI application, completing identity verification, and instantly generating virtual or physical cards for use.
The partnership is expected to further strengthen Nigeria’s digital payments landscape while offering consumers faster, more flexible, and globally connected financial tools.
