Moniepoint Expands UK Remittance Infrastructure
Moniepoint has partnered with tell.money to strengthen payment security in the United Kingdom as the fintech company expands its international remittance operations.
The partnership will enable Moniepoint to deploy a Confirmation of Payee system through its UK remittance subsidiary, Monieworld.
The move reflects a broader strategy by African fintech firms to align with European open banking standards while improving transaction security for diaspora users sending money across borders.
Moniepoint Introduces Confirmation of Payee Verification
New Security System Targets Fraud and Payment Errors
According to the companies, the Confirmation of Payee service verifies recipient account details before payments are processed.
The technology helps reduce the risk of:
- Misdirected payments
- Fraudulent transfers
- Account impersonation scams
- Cross-border transaction errors
Tell.money will provide the underlying verification infrastructure, while Monieworld integrates the service into its payment platform.
The rollout aims to improve trust and reliability for users making international money transfers between the UK and African countries.
UK-to-Africa Remittance Market Continues Growing
African Fintech Firms Face Strong Competition
Moniepoint is entering a highly competitive UK-to-Africa remittance market that already includes global players such as Wise, WorldRemit, and Remitly.
The company will also compete with African fintech platforms including Flutterwave through its Send App product.
Industry analysts say digital-first remittance providers are increasingly differentiating themselves through faster settlement systems, lower fees, stronger compliance tools, and improved customer security.
Open Banking Expands Across Global Payments
Fintech Companies Increasingly Adopt Verification Systems
The Moniepoint partnership highlights growing adoption of open banking infrastructure within the financial services industry.
According to the companies, tell.money handles compliance and accreditation requirements, allowing Monieworld to focus on customer experience and operational growth.
Ravi Jakhodia, Chief Executive Officer of Monieworld, said the company’s goal is to build financial services tailored for Africans living abroad.
He explained that the partnership helps simplify compliance while improving transaction protection for customers.
Digital Remittances Continue Expanding Worldwide
Diaspora Payment Platforms Evolve Beyond Transfers
Data from the World Bank’s KNOMAD programme estimates that remittance flows to low- and middle-income countries now exceed $620 billion annually.
Analysts believe digital remittance platforms are capturing a growing share of that market through:
- Open banking integrations
- Automated compliance systems
- Faster transaction processing
- Multi-currency payment tools
- Mobile-first financial services
Industry observers also expect diaspora-focused fintech platforms to expand into broader financial products, including digital banking, credit services, savings, and investment solutions.
Why the Moniepoint Partnership UK Matters
African Fintech Expansion Continues Beyond the Continent
The partnership signals how African fintech companies are increasingly expanding into developed markets while adapting to international regulatory and security standards.
As cross-border digital payments continue growing, payment verification systems such as Confirmation of Payee are becoming increasingly important in reducing fraud and improving customer confidence.
For Moniepoint, the integration could strengthen Monieworld’s position in the competitive UK remittance market while supporting the company’s wider international growth ambitions.
