Moniepoint shuts down UK remittance service MonieWorld

Moniepoint Inc. has announced the shutdown of MonieWorld, its UK-based remittance service designed for the Nigerian diaspora, less than 18 months after its launch. The company is transitioning away from the service to refocus its capital, technology, and operational resources on scaling its core financial platform for businesses within African markets.

MonieWorld allowed UK residents to transfer funds directly to Nigerian bank accounts using various methods, including debit cards, Apple Pay, and Google Pay. Despite a reported 70% increase in monthly transaction volumes prior to the decision, the company is redirecting its focus toward areas with stronger scaling opportunities.

The wind-down process began on August 15, 2026, with a full cessation of services scheduled for September 15, 2026. Customers have been instructed to withdraw existing balances, and the company is providing guidance regarding funds currently in transit.