Not every recipient has a bank account, and some simply prefer cash. Paycode is Monnify's solution for disbursing physical cash directly from your wallet. Recipients collect their money at any Moniepoint agent location nationwide.

Pricing: A flat fee of ₦100 applies to every Paycode payout.

What is a Paycode?

A Paycode is a secure, 10-digit code you generate on Monnify and share with your recipient. They walk into any Moniepoint agent location, present the code, and collect their cash. Your wallet is then debited.

How Offline Payouts Work

1. Generate: You generate the Paycode on your Monnify dashboard or via API.
2. Share: Send the 10-digit code to your recipient (via SMS, email, or WhatsApp).
3. Visit: The recipient goes to any nearby Moniepoint agent and presents the code.
4. Verify: The Agent enters the code on their POS terminal to confirm the amount.
5. Cash Out: The agent pays out the cash and your Monnify wallet is debited.

How to Set Up Offline Payouts

Note for Engineering Teams: This feature can be created using the Monnify dashboard or API. This guide covers the dashboard setup. To integrate this feature using the API, see Paycode Generation using APIs.

Step 1: Request Feature Access

To get started, request access from our integration team using the email address linked to your Monnify account.

1. Send to: [email protected]
2. Subject: Need to Set up Paycode: [Your Business Name]
3. Body: Provide your Monnify Business Code and a brief description of how you plan to use the feature.

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.

Step 2: Generate a Paycode (Dashboard)

Once access is confirmed:

1. Log in to your Monnify Dashboard and click Paycodes from the left-hand menu
2. Click Create New Paycode on the right.

3. Choose your paycode type:

1. Single Paycode: Ideal for one-off payments to one or more recipients. Fill in the required details, then click Create Paycode.
2. 
   
3. The required details:
4. Beneficiary Name: Name of the cash recipient
5. Amount: The exact amount to be disbursed.
6. Reference: Your unique internal tracking number for this payout.
7. Expiry Date: You can set a date for the code to expire. If left blank, the code expires after 24 hours

5. Click Create Paycode.

6. Enter the OTP when prompted. Your paycode will be generated and ready to share.

Understanding Paycode Statuses

Track every code's lifecycle directly from your dashboard. A Paycode will always display one of these four statuses: