Payment Gateway Set as Payment Platform for Businesses

Monnify Payment Gateway has established itself as a leading payment platform for Nigerian digital businesses, processing a significant N25 trillion (approximately $18 billion) in transactions in 2025. This figure represents a substantial 38% increase compared to 2023, highlighting the company's robust growth.

Damilare Ogunnaike, Vice President of Monnify Payment Gateway, emphasized the platform's resilience, stating it operated seamlessly even amid challenges like currency volatility, rising costs, and infrastructure pressures. "Monnify did not just handle that demand, it grew within it. It became more relied on when reliability mattered most," Ogunnaike said in a statement.

Monnify operates as the payment gateway service within TeamApt, a technology infrastructure firm. It is specifically designed for businesses requiring large-scale money collection and disbursement. The platform's diverse customer base reflects the dynamism of Nigeria's digital economy, including prominent fintech companies such as PiggyVest, Cowrywise, Bamboo, Rise, and Nomba.

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The growth came during a period when Nigerian businesses were dealing with currency volatility, rising costs, and increasing pressure on infrastructure to perform consistently. Monnify did not just handle that demand, it grew within it. It became more relied on when reliability mattered most.