Other Monnify Services

Developer Note: Each of these services requires integrating the corresponding API endpoint. See the Verification API Documentation to get started.

1. Add a step in your signup process asking the customer to input their BVN or NIN.
2. Verify the provided BVN or NIN using a verification service (such as Monnify's Verification APIs) before proceeding.
3. Once verified, create the account by sending an account creation request to the Monnify API. Ensure you include the captured BVN and/or NIN in the request.
4. After verifying the information, Monnify will generate the applicable virtual account for you to display to the user.

Workflow 2: Updating Details for EXISTING Customers

If you have existing customers who generated virtual accounts before this mandate, you have to update their profiles:

1. Implement a notification bar or pop-up on your app or website prompting the user to update their KYC Information.
2. Ask them to input their BVN and/or NIN, and verify the details using a verification service, such as Monnify's Verification APIs.
3. Send a request to Monnify for account details update.
4. Monnify will update the customer's profile. Once you get a successful response from Monnify, display a success message so the customer knows their account is secure.

Note: For the exact endpoints, parameters, and payloads required for this feature, see the Monnify BVN/NIN Verification Documentation.

Applicable Fees

1. Linking is FREE: Monnify does not charge you any fees for creating reserved accounts or updating existing accounts with a BVN or NIN.
2. Verification Costs: However, if you choose to use Monnify's API to verify the BVN or NIN before linking it, standard API verification fees will apply (e.g., ₦10 for every successful BVN Match, ₦60 for every successful NIN verification). If you use a different verification service, it may attract fees but these are not charged by Monnify.

Important Note: Bills Payment is currently available via API integration only. See the Bills Payment Developer Documentation for the required endpoints and payloads.

Want to turn your platform into a one-stop shop? The Monnify Bills Payment feature allows you to seamlessly sell essential day-to-day services directly from your app or website.

Rather than managing individual contracts with dozens of different service providers (like MTN, DSTV, or IKEDC), Monnify acts as your single aggregator. You can process these bills using the exact Monnify account and wallet you already use for collections and payouts.

Services You Can Sell

Once activated, you can offer a wide range of bill payment options to your users, including:

1. Electricity: Prepaid and Postpaid meters
2. Cable TV: DSTV, GOTV, StarTimes, etc.
3. Airtime & Data Bundles
4. Education: E.g., WAEC or JAMB pins

How You Make Money: The Settlement & Commission Process

Monnify operates on a Commission (or Cashback) model. You earn a commission for every successful bill you sell.

To make reconciliation perfectly clear on your dashboard, we process your settlement instantly through a two-step "Debit and Credit" movement:

1. Gross Debit: First, your Monnify wallet is debited for the full cost of the bill (the "Vend Amount" + any applicable merchant fees).
2. Commission Credit : Immediately after, your wallet is credited with your earned commission. This represents your instant profit.

Note: Commission rates vary depending on the specific service provider and product

Example:

Imagine your customer buys a ₦5,000 data bundle, and your commission on that product is ₦500.

1. Step 1: Your Monnify wallet is debited ₦5,000.
2. Step 2: Your Monnify wallet is instantly credited ₦500.
3. Result: The final net cost to your business is exactly ₦4,500, while your customer gets their ₦5,000 data.

Terms to Note In the Bills Payment Service

1. Vend Amount: The base amount of the transaction. This is the exact, gross value of the service the customer is buying.
2. Merchant Fee: A fee charged by the aggregator to the merchant. This is only applicable to certain products; otherwise, it is set to zero.
3. Merchant Payable Amount: The total amount deducted from your wallet to process the service (Vend Amount + Merchant Fee).
4. Biller (Service Provider): The actual company providing the utility to the customer, such as MTN, DSTV, or Ikeja Electric.

Important Note: Bills Payment is currently available via API integration only. See the Bills Payment Developer Documentation for the required endpoints and payloads.

Before integrating the bills payment feature into your app or website, you need to get the feature activated on your account. You also need to understand the architectural workflow required to keep your transactions secure.

How to Activate Bills Payment

From the email address linked to your Monnify account, send an email:

1. Send to: [email protected]
2. Subject: Bills Payment Activation: [Your Business Name]
3. Body: Provide your Monnify Business Code and a brief description of the services you intend to sell.

Tip: You can find your Business Code at the top of your dashboard menu.

Our team typically reviews and activates requests within 24 hours. You'll receive a confirmation email within the same email thread once the feature is enabled, and you can begin implementing the API endpoints.

The 3 Integration Phases

When building a bill payment feature into your app, the user experience is critical. If a customer accidentally sends money to the wrong meter number, it creates a massive support headache.

To protect you and your customers, the Monnify Bills Payment architecture requires your system to follow three primary phases: Discovery, Validation, and Vending.

Phase 1: Discovery (Finding the Right Service)

Before a customer can pay, your app must show them what is available. Your engineers will use our APIs to pull lists in this exact order:

1. Categories: Show the user general bill types (e.g., Electricity).
2. Billers: Show the providers or billers under that category (e.g., Ikeja Electric).
3. Products: Show the specific packages offered by that biller (e.g., Prepaid Meter Top-up).

Phase 2: Validation (The Safety Check)

This is an incredibly important step. Before you process a payment, you need to validate the customer’s details.

1. How it works: The customer types in their unique identifier (like a phone number or meter number). Your system pings Monnify to verify it.
2. The Result: If the details are valid, Monnify returns the registered name on that account (e.g., "John Doe") and a unique Validation Reference.
3. Why it matters: Showing the validated name to the customer allows them to confirm there is no mistake. If validation fails, your app should display an appropriate error and halt the payment process.

Phase 3: Vending (Processing the Payment)

Once the customer's details are validated, you can initiate the final payment. Your system sends key details such as the amount and customer ID to Monnify, we process the payment and return a response to you.