Moniepoint currently controls nearly 40% of Nigeria’s POS market.
Moniepoint's market dominance is followed by Opay, which controls 27% of the agency banking sector in Nigeria, known as the POS market.
This is how the brands are standing: POS market dominance -
1) Moniepoint 38.5%,
2) Opay 27%,
3) Palmpay 12.5%,
4) First Monie 4.2%, and
5) MTN Momo 3.5%.
One interesting fact i think about is that before Moniepoint launched their agency banking business in 2018, the market was already saturated by leading players.
This was enough to deter or crush anybody, but not Tosin and his team.
They launched despite the intense competition and the feedback from his research team who tried to discourage Tosin from launching due to competition.
In less than 7 years, Moniepoint has displaced the market leaders they met on the ground before they launched by disrupting the market and today, they are the king of POS business in Nigeria.
A reminder that it doesn't matter how oversaturated the market is; if God called you to it, there's always room and market for you.
So start.
Moniepoint's market dominance is followed by Opay, which controls 27% of the agency banking sector in Nigeria, known as the POS market.
This is how the brands are standing: POS market dominance -
1) Moniepoint 38.5%,
2) Opay 27%,
3) Palmpay 12.5%,
4) First Monie 4.2%, and
5) MTN Momo 3.5%.
One interesting fact i think about is that before Moniepoint launched their agency banking business in 2018, the market was already saturated by leading players.
This was enough to deter or crush anybody, but not Tosin and his team.
They launched despite the intense competition and the feedback from his research team who tried to discourage Tosin from launching due to competition.
In less than 7 years, Moniepoint has displaced the market leaders they met on the ground before they launched by disrupting the market and today, they are the king of POS business in Nigeria.
A reminder that it doesn't matter how oversaturated the market is; if God called you to it, there's always room and market for you.
So start.