Moniepoint Taps tell.money to Meet UK Payment Checks in Expansion Push

Moniepoint Inc., an African fintech firm, has partnered with UK-based tell.money to introduce account name-checking for payments, as it deepens its expansion into Britain’s regulated financial market.

The agreement will see Moniepoint adopt the UK’s Confirmation of Payee (CoP) system, which verifies that a recipient’s name matches their bank account details before a transfer is completed. The requirement is a key safeguard against fraud and misdirected payments, and is increasingly mandatory for firms operating in the UK.

The service will be rolled out through Monieworld, Moniepoint’s remittance platform serving Africans in the diaspora, initially focused on Nigerian users in the UK. The platform enables transfers to Nigerian bank accounts through bank rails, cards and digital wallets.

The move underscores Moniepoint’s effort to align with UK compliance standards while scaling its cross-border payments offering in a competitive remittance market.

“Our goal is to make it easier for people to support families, invest back home and manage cross-border finances with confidence,” said Ravi Jakhodia, chief executive officer of Monieworld. He added that the partnership allows the company to meet regulatory requirements without adding operational complexity.

Tell.money will provide the infrastructure layer for the CoP service, including integration, accreditation and ongoing compliance monitoring.

Moniepoint joins a growing number of international fintech firms adopting CoP as UK regulators tighten oversight of payment security and consumer protection.

Founded in Nigeria, Moniepoint says it serves more than 20 million businesses and individuals and processes about $22 billion in monthly transaction volume across payments, banking and credit services.

The UK push reflects a broader trend of African fintechs targeting diaspora remittances, a high-volume corridor where reliability and compliance are increasingly critical differentiators.