Every payment that flows through Monnify has identifiers, and knowing what the identifiers mean can save you from certain reconciliation headaches. This guide covers the identifiers and status field your team may encounter when collecting payments.

The Two Reference IDs

1. paymentReference: This is the internal tracking number that your system generates for each transaction. It must be strictly unique for every payment attempt. Reusing a reference is one of the most common causes of failed API calls.
2. transactionReference: This is generated by Monnify. The moment a transaction enters our system, we assign it this identifier and return it to you in our API response. Use it when querying or referencing a transaction on our end.

Payment Status

Payment Status is the field that reflects the outcome of a collection attempt. It is visible on your Monnify Dashboard and is the primary tool your finance and operations teams will use for day-to-day reconciliation.

A status of PAID is the confirmation that a customer has successfully completed their payment.

The full list of valid Payment Statuses:

PAID · OVERPAID · PARTIALLY_PAID · PENDING · UNDERPAID, REFUNDED, ABANDONED · CANCELLED · FAILED · REVERSED · EXPIRED

Developer Note: Use the payment status field in the JSON object to drive your application logic, updating a database record, releasing a product, or prompting a retry.

To understand more about overpayments and underpayments, see Managing Overpayments and Underpayments.