TechVoicesMoniepoint marks ten years by giving informal traders an AI they can talk to
The chatbot, called M, sits inside the same app traders already use for payments. The company says it processes more than a billion transactions a month.
Illustration. Reporting is based on company statements and published accounts of the round or the bill.
Moniepoint has launched M, an AI chatbot for the informal businesses that make up most of Nigerian commerce. Co-founders Tosin Eniolorunda and Felix Ike introduced it as the company turned ten.
M, short for Machine Intelligence, answers questions about payments, operations, and basic finance in ordinary language. It lives inside Moniepoint’s existing app, next to banking, credit, and business tools, rather than as a separate product.
Moniepoint says it processes more than a billion transactions a month and serves more than 10 million businesses and individuals, with payments volume above $22 billion. Those figures are the company’s own. What matters for M is whether a trader who already trusts the terminal will ask it a question she would otherwise ask another trader.
Vice President Kashim Shettima, receiving a Flutterwave delegation in Abuja the same week, grouped Moniepoint with Flutterwave and Andela as Nigerian companies using the current reform period to sell beyond Nigeria. Flutterwave’s chief executive, Olugbenga Agboola, told the vice president the company is aiming at a larger payments and banking footprint on the continent and outside it.
