Monnify Services

Monnify offers three services which are:

  1. Monnify Collections: Allows businesses/merchants to accept payments from their customers. 

  2. Monnify Disbursement: This allows businesses/merchants to transfer funds from their account on Monnify to any bank account in Nigeria through Monnify APIs.

  3. Customer Verification APIs: This consists of a set of APIs with which businesses/merchants can get or validate details of their customers. 


Monnify Payment Methods

There are two payment methods available on Monnify, which are:

  1. Card Payment: The card payment method allows your customers to make payments through the use of their cards. The available card schemes are Mastercard, Visa, and Verve.

  2. Account Transfer: This payment method allows customers to make payments by transferring to a virtual account number. Two modes are supported for this method:

  3. Dynamic Account: This account is dynamically generated immediately after a transaction is initiated and is tied to that transaction alone.

  4. Static Account: For a static account, an account is allocated to a customer and remains active as long as the account is not deactivated.


Monnify Payment Collection Channels

The various collection channels available for merchants on Monnify are:

  1. API: This channel allows a merchant to initialize a transaction by calling Monnify’s APIs directly. This channel is only enabled for merchants with PCI-DSS certification. On this channel, all payment methods supported by Monnify are supported. Click here to view more details

  2. Mobile SDK: This allows a merchant to integrate with any of  Monnify’s mobile SDKs (iOS, Android, Flutter, React, etc.). On this channel, all payment methods supported by Monnify are supported. Click here to view more details.

  1. Web SDK: Monnify has a JS library that merchants can integrate with their web applications. 

    On this channel, all payment methods supported by Monnify are supported. Click here to view more details.