Monnify says it processed ₦25tn in 2025, up 38% from 2023, as Nigerian merchants lean more on reliable payment infrastructure and faster settlement.
Monnify says it processed ₦25 trillion in transactions in 2025. The payments infrastructure company, owned by TeamApt Limited, positions this as a sign that more Nigerian digital businesses are relying on backend payment rails.
Payment infrastructure is the behind-the-scenes plumbing that moves money for apps and online businesses. It includes payment gateways, bank transfer routing, transaction confirmation, settlement, and reconciliation, which is matching payments to the right customer or invoice.
The company says over 100,000 merchants use Monnify, with integrations across 27 banks. Monnify’s VP for the payment gateway, Damilare Ogunnaike, described the milestone as growth happening “behind the scenes,” while the product expands across industries.
Monnify also pointed to its regulatory setup. TeamApt has a switching licence from Nigeria’s central bank, and Monnify operates with a Payment Solution Service Provider licence. In plain terms, a switching licence helps a provider connect directly to parts of the national payments system, instead of routing everything through third parties.
Reliability is becoming a key buying factor for Nigerian businesses picking payment providers. Failed payments, slow confirmations, and hard-to-balance accounts can quickly turn into lost revenue and support tickets, especially for merchants doing thousands of transactions daily.
Monnify says it has focused on settlement speed and performance. It claims internal testing shows settlement times as low as three seconds on some bank routes, and added capacity for high-traffic periods like month-end collections.
The company also highlighted virtual accounts, which are unique account numbers assigned to a customer or transaction to make reconciliation easier. Monnify introduced virtual accounts in 2019, and the feature is now common across Nigeria’s fintech market.
For readers new to the space, Liners also has a practical guide on payments infrastructure, including how payment gateways work in Nigeria: /blog/payment-gateway-nigerian-business-guide-2026.
Primary Source: Nairametrics
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