Payment Collection

Collect payments seamlessly, grow instantly.

Getting Paid: Monnify Payment Methods


Monnify supports multiple payment methods so your customers can complete transactions using whichever method works best for them. Here are the payment methods available on your dashboard:

  1. Cards: Monnify supports Visa, Mastercard, and Verve, covering both local and international transactions.
  2. Account Transfer: Customers can pay via bank transfer from any Nigerian bank. Every transfer is automatically reconciled in real time, so you always know exactly who paid and when.
  3. USSD: Customers without internet access, or those who prefer offline banking, can complete payments using their bank's USSD code. No data connection required.
  4. Phone Number: This checkout option allows customers to make payment with minimal friction, using their phone number.
  5. Offline Payment Collection: Expand your customer base by accepting cash payments through Moniepoint’s vast agent network. Customers can visit any nearby agent to pay for your services and you receive instant notification.


Need to activate any of these collection methods? See How to Change Your Accepted Payment Methods

Last Updated on : 5/19/2026

How to Track and Confirm Payments

Your Monnify dashboard gives you a clear, real-time view of every payment your business receives. Here is how to find what you need.


Viewing Your Transactions

Method 1: Transaction History

  1. On your Monnify Dashboard menu, click Transactions.
  2. This displays your complete transaction history, updated in real time.


Method 2: The Dashboard Shortcut

For a fast summary of your latest inflows, stay on the main dashboard home page and scroll down to the Recent Transactions section.



Finding Specific Payments

When you are working with a large volume of transactions, use these three tools to locate exactly what you need:



  1. Filter: Click the Filter button to search your transaction records by specific criteria, including:
  2. Payment Status (e.g., Paid, Pending, Expired)
  3. Payment Method (Card, Bank Transfer)
  4. Customer Email
  5. Destination Account Number
  6. Amount

Once you enter the details, click Apply Filters.

2. Export CSV: To download your transactions as a spreadsheet, click Export CSV. The file can be opened in Microsoft Excel, Google Sheets, or any compatible tool for reporting and reconciliation.



3. Date Filter: This is useful for period-specific reporting or reconciliation. Select a start date and end date, then click OK to view only transactions processed within that timeframe.



Last Updated on : 7/7/2025

Interpret Your Dashboard Figures


When you log in to your Monnify Dashboard, you might notice that Total Revenue and Pending Settlements show different figures. This is expected, the two numbers represent different things.


Here’s a breakdown of what the numbers mean:

  1. Total Revenue: This is the gross total of all payments received into your Monnify account. Use the Timeframe Filter above Pending Settlements to view your revenue across different periods: Today, Last 7 Days, Last 30 Days, or a custom date range.
  2. Pending Settlements: This is your Total Revenue minus Monnify's standard processing fees; the net amount that will be paid out to you. At the scheduled settlement time (10pm everyday by default), this figure is credited either to your Monnify wallet or your registered commercial bank account, depending on your settlement settings.


Tracking Recent Transactions

Scrolling further down the dashboard home page shows your Recent Transactions table, a real-time log of the latest payments entering your account.


Last Updated on : 5/11/2026

When Will I Get My Money? Default and Express Settlements

Make sales and access your funds without breaking a sweat.


Settlement is the process by which the payments you collect from customers are moved to your account. Monnify handles this automatically on a daily basis.


The Default Schedule

By default, Monnify processes all payments received during the day and settles at 10:00 PM daily.


Note: Weekends and public holidays do not delay your settlement times.


Need Liquidity Now? Use Express Settlement

If you need access to your revenue before the default settlement time, the Express Settlement feature allows you to request an immediate withdrawal on demand.


Key details:

  1. You can trigger Express Settlement up to 3 times per day
  2. Minimum request amount: ₦5,000, no maximum limit applies


How to Request an Express Settlement:

  1. Log in to your Monnify dashboard.
  2. On the home page, select Get Settled Now (located just below Pending Settlements).

3. Complete the OTP verification prompt

4. Once verified, your outstanding settlement balance is immediately paid to your settlement destination


Last Updated on : 5/19/2026

Where Does My Money Go? (Settlement Destinations)

When you set up your Monnify account, you have complete control over where your daily revenue lands.


Your Settlement Destination Options

  1. Monnify Wallet: Collected payments are held securely in your Monnify digital wallet. This allows you to accumulate your revenue until you’re ready to withdraw to your bank account manually. Monnify wallet is the default settlement destination
  2. Bank Account: Collected payments are pushed directly into your settlement bank account at your next settlement time.


How to Make a Manual Withdrawal

If your settlement destination is set to your Monnify Wallet, moving funds to your bank account is quick and within your control.

  1. On your Monnify dashboard menu, click Balances.
  2. Click Withdraw on the right.

3. Enter the amount you wish to withdraw into your settlement account. (Your settlement account details are prefilled).

4. Enter the OTP when prompted. Your revenue will be withdrawn immediately.


How to Change Your Settlement Destination

To switch between your Monnify Wallet and your bank account as your settlement destination:

  1. On your dashboard, go to Settings.
  2. On the top navigation bar, click Contract Setup.
  3. Click Edit Contract on the right.

4. Select your preferred settlement destination and click Save Changes

5. Click the back button to view your newly updated contract.


Last Updated on : 5/19/2026

How to Change Your Settlement Bank Account

To change the commercial bank account linked to your Monnify profile, follow these steps:

  1. Log in to your Monnify account and click Settings from the left-hand menu.
  2. Click the Bank accounts tab.
  3. Click Edit, enter the new account details, and save the changes.

  1. Once updated, our team will verify the details and apply the update promptly.


Key Rules

Before submitting your request, ensure your new bank account meets the following requirements:

  1. Name Match: The new bank account name must match your CAC-registered business name.
  2. Accepted Banks: We settle only into commercial bank accounts or recognized Microfinance Banks (MFBs). For compliance reasons, we do not settle into virtual accounts.


Last Updated on : 5/19/2026

Collecting Payments Offline Via Offline Products

With Monnify, you can accept physical cash payments from customers anywhere in Nigeria.

Your customers can walk into any Moniepoint Agent location across Nigeria, pay in cash, and have the payment settle into your Monnify wallet.


Note for Engineering Teams: This feature can be set up via the Monnify dashboard or API. This guide covers the dashboard setup. To integrate via API, refer to the Offline Pay-ins Developer Documentation.


Types of Offline Products

Depending on your business model, you can set up 4 types of products:

  1. Fixed Product: The amount is fixed and the customer pays that exact amount.
  2. Variable Product: The price is flexible. The customer specifies how much they want to pay (ideal for wallet top-ups).
  3. Invoice Product: The payment is tied to a specific invoice you generate on Monnify. The agent collects the exact amount required to settle that specific invoice.

Note: Your engineers must activate this product type by calling the Create Invoice endpoint.

4 . Merchant Invoice Product: A custom setup where you can dynamically adjust the price per customer once the agent verifies their ID.


How to Set Up Offline Payment Collection

Step 1: Request Access

Send a request to our Support team from the email address linked to your Monnify account.

  1. Send to: [email protected]
  2. Subject: Need to Set up Offline Payment Collection: [Your Business Name]
  3. Body: Provide your Monnify Business Code and a brief description of how you intend 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 once the feature is enabled, and an Offline Products option will appear on your dashboard menu.


Step 2: Set Up Your Product

  1. On your dashboard menu, click Offline Products.
  2. Click Create New Product.

3. Select your Product Type (Fixed, Variable, etc.) and fill in the required details.

4. Real-time Value (Tokens): If your product requires a token to be delivered to the customer immediately after payment (such as an electricity token), check the Requires Real Time Value box. This ensures the Moniepoint Agent's POS prints both a receipt and the value token.

5. Revenue Splitting: To divide incoming payments across multiple accounts, click Transaction Splitting at the bottom of the form and assign your sub-accounts. Haven't set this up yet? See our guide on Creating Sub Accounts.

6. Submit the form.


Step 3: The Developer Configuration

With the product created on your dashboard, your engineering team has to configure a mandatory Payer Verification Endpoint, along with the optional Payment Request and Payment Requery endpoints. See how to set up the endpoints for offline products.


Step 4: The Customer Payment Journey

Once your setup is live, here's how a payment flows end to end:

  1. Your customer visits any Moniepoint Agent to pay for your service.
  2. The agent opens the Monnify collection app on their Moniepoint POS terminal, selects your merchant name, and chooses the product.
  3. The agent verifies the customer by entering their Customer ID, which the customer retrieves from your app or website.
  4. The POS displays the payment amount, or the customer states how much they want to pay (depending on the product type). The agent collects the cash and processes the transaction.
  5. The agent's terminal prints a receipt (and a value token, if applicable) for the customer.
  6. You receive an instant transaction notification, allowing you to deliver the service without delay.


Last Updated on : 5/19/2026

Setting Up Reserved Accounts

Reserved Accounts give each of your customers a dedicated virtual account number. Every transfer made to that account is automatically associated with the customer's profile on your platform.


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, refer to the Reserved Account Developer Documentation.


Perfect For These Business Models

Reserved accounts are best suited for platforms that require frequent top-ups or recurring billing:

  1. Wallet-Based Businesses: Super agents, investment apps, and logistics platforms where users need to regularly fund their personal digital wallets.
  2. Subscription-Based Businesses: Electricity distribution companies, Internet Service Providers (ISPs), or estate management platforms where a customer pays for the same service on a recurring basis.


Types of Reserved Accounts

Reserved Accounts can be classified into two:

  1. Regular Reserved Accounts: These are permanent and always active. Customers can transfer funds into the account at any time to top up their wallet or clear an outstanding balance.
  2. Invoice Reserved Accounts: These are strictly tied to invoices. The account number remains dormant (inactive) until you issue an invoice for the customer. The account is then able to receive the payment, then goes dormant once the invoice is cleared.


Note: For invoice reserved accounts, overpayments and underpayments are automatically reversed. To change this, configure your overpayment and underpayment settings. See Managing Overpayments and Underpayments.


How to Create a Reserved Account

To create a Reserved Account from your dashboard:

  1. Log in to your Monnify Dashboard.
  2. On the left-hand menu, click Reserved Accounts.
  3. Click Create New in the top right corner.

4. Fill in the customer's details in the pop-up form (Name, BVN or NIN, Email, and so on.).

5. Click Create Reserved Account. The permanent account number will be generated instantly for you to share with your customer.


Advanced Features

Note: To automate the process at scale and utilize these advanced features, check the Reserved Account Documentation for the required endpoints and payloads .


Monnify gives you control over how these reserved accounts behave.

  1. Automated Revenue Splitting: Automatically route a set percentage of every incoming payment into different sub-accounts (ideal for commission-based platforms).
  2. Transaction Limits: Cap the daily volume (number of transactions), daily value (total amount), or maximum single transaction amount on any customer's account to manage risk.
  3. Strict Payment Sources (Fraud Prevention): Block unauthorized third-party transfers. Restrict funding so that an account only accepts transfers from a sender whose bank account name or BVN matches the registered customer's details.
  4. KYC Update: When creating a Reserved Account, you provide either the customer's BVN or NIN, along with a limit profile code (a unique identifier generated when you create a limit profile via the Create Limit API). To upgrade a customer's transaction limits at a later date, add whichever identifier was not provided at creation. Note that a customer's limits can never exceed your merchant limit with Monnify.
Last Updated on : 5/20/2026

How to Create and Share Payment Links

Start collecting money in minutes.

Monnify lets you generate secure, shareable payment links from your dashboard, no code required.


Why Use Payment Links

  1. Sell Anywhere: Share your payment link via WhatsApp, Instagram DMs, SMS, or email. When a customer clicks it, they are taken to a secure Monnify-hosted checkout page.
  2. Flexible Pricing Controls: Selling a product at a fixed price? Set a fixed amount. Running a fundraiser or accepting variable payments? Use a flexible amount link and let the customer enter what they're paying. You're in control of the structure.
  3. Perfect Reconciliation: Know who paid. When creating a link, you can require customers to enter their name, phone number, or a custom ID before completing payment. This keeps your dashboard records accurate .



How to Create a Payment Link

Generating a link takes just a few minutes. Follow these steps:

  1. Login to your Monnify Dashboard.
  2. On the left-hand menu, click Payment Links.
  3. Click Create Payment Link in the top right corner.

4. Set your pricing type: Fixed Amount, Flexible Amount, or Amount Options. Configure any advanced settings you need such as custom URL, additional customer fields, link expiration date, or notification preferences.

5. Click the Preview Payment Page to see exactly what your customers will see.

6. If everything looks right, click Create Payment Link. If not, click Cancel or the back arrow at the top left corner to return to the editing screen.

7. Copy your link, share it with your audience, and start receiving payments immediately.


Last Updated on : 5/20/2026

Managing Overpayments and Underpayments

By default, Monnify rejects and reverses any payment that doesn't match the expected amount, to protect both your inventory and your customer's finances. However, if a minor discrepancy shouldn't cost you a sale, you can configure Payment Thresholds to handle those cases differently.


What are Payment Thresholds?

Payment Thresholds are rules defined within your Monnify Contract. They specify exactly how much variance you're willing to accept on a transaction. If a customer's payment falls within your defined threshold, above or below the expected amount, the transaction is processed instead of being reversed.


How to Set Your Payment Thresholds

You can adjust these rules by editing your contract settings on the dashboard:

  1. Log in to your Monnify Dashboard and select Settings from the left-hand menu.
  2. Select the Contract Settings tab.
  3. Click Edit Contract.

4. Scroll to the bottom of the configuration form and locate the Overpay and Underpay options.

5. Set your preferences and type in your threshold amounts:

  1. Underpay Threshold: The minimum amount you are willing to accept to consider a transaction complete.
  2. Overpay Threshold: The maximum excess you are willing to accept without triggering an automatic refund.

Note: If you leave the threshold amount fields blank, the system will accept all overpaid or underpaid transactions with no limit. Also, thresholds must be set as specific currency amounts, not percentages.

6. Click Save Contract.

Important Note: After saving, the name of your contract will still display as "Default Contract," this is expected. Your new threshold rules will apply immediately to every payment link or reserved account using that contract.



Last Updated on : 5/20/2026

Split Funds With Sub Accounts


Sub Accounts let you route incoming payments into other external accounts (apart from your main settlement account). Instead of manually calculating and splitting revenue, you set a percentage for each sub-account, and Monnify handles the distribution automatically.

This is ideal for paying vendor commissions, setting aside tax provisions, or keeping different revenue streams cleanly separated.


How to Set Up Sub Accounts

Note for Engineering Teams: Sub Accounts can be created via the dashboard or API. This guide covers the dashboard setup. For API integration, refer to the Transaction Splitting / Sub Accounts Developer Documentation.


Step 1: Request Feature Access

From the email address linked to your Monnify account, send a request to our team:

  1. Send to: [email protected]
  2. Subject: Need to Set Up Sub Accounts: [Your Business Name]
  3. Body: Provide your Monnify Business Code, specify where you want the feature activated (Dashboard UI, API, or both), and briefly describe your intended use case.

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


Step 2: Create Your Sub Accounts

Our team typically reviews and activates these requests within 24 hours. Once approved, you'll receive a confirmation email and a Sub Accounts option will appear in your dashboard menu.

  1. On your Monnify Dashboard menu, click Sub Accounts.
  2. Click Create a Sub Account.

3. Fill in the necessary details in the pop-up form. This includes the destination bank account details and the percentage of revenue this sub-account should receive from every split transaction.

4. Click Create Account to save.

Note: Your Sub-Accounts can be any valid bank account.

Last Updated on : 6/7/2026

Reversing Payments: How to Process Refunds

Need to return money to a customer? Whether they changed their mind, an item is unavailable, or a payment error occurred, Monnify lets you reverse transactions directly from your dashboard or via the API.


Key Things to Notes

Two things to note before you initiate a refund:

  1. Refunds apply to bank transfer payments only. Card transactions are not eligible.
  2. Refunds are processed from your Monnify Wallet, not your bank account. Ensure your wallet has sufficient balance before proceeding.


Types of Refunds

Depending on the scenario, you can choose how much money to send back:

  1. Partial Refund: Return a specific portion of the initial payment. This is ideal for overpayments or refunding a single item from a multi-item order.
  2. Full Refund: Return the exact total amount of the original transaction.


How to Process a Refund

Note for Engineering Teams: Refunds can be processed via the Monnify dashboard or API. This guide covers the dashboard setup. For API integration, refer to the Transaction Refund API Documentation.


Step 1: Request Feature Access

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

  1. To: [email protected]
  2. Subject: Need to Set Up Refunds: [Your Business Name]
  3. Body: Provide your Monnify Business Code, specify where you want the feature activated (Dashboard UI, API, or both), and briefly describe your intended use case.

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


Step 2: Initiate the Refund

Our team typically reviews and activates these requests within 24 hours. Once confirmed, you will be notified within the same email thread. Then follow these steps:

  1. Log in to your Monnify Dashboard and select Transactions from the menu.
  2. Locate and click the specific successful transaction you want to refund.
  3. Click Refund in the top right corner of the transaction details screen.
  4. Fill the required information. You can also provide the customer’s alternate bank account.
  5. Click Refund to submit.

(Note: If your wallet balance is insufficient to cover the refund, the system will reject the request and redirect you to the dashboard home page to fund your wallet).


Refund FAQs

Will I be charged a fee for issuing a refund?

For payments originally made via Bank Transfer, a processing fee of ₦10 applies. Both the refund amount and the ₦10 fee are deducted from your Monnify wallet.


Can I cancel a refund after submitting?

No. Once submitted, the refund is immediately sent to the banking network and cannot be paused, reversed, or canceled. Always verify the amount and customer details carefully before submitting the form.


When will my customer receive the refund?

Refunds are typically credited to the customer's bank account within 24 hours.

Last Updated on : 5/20/2026

Understanding Disputes and Chargebacks

As a business owner, few things are as frustrating as a customer disputing a successful payment. This is why Monnify's Chargeback Team manages the dispute process on your behalf to ensure every case is handled fairly, in compliance with regulatory standards, and with your revenue protected.

If you have just received your first dispute notification, here's everything you need to know: how disputes work, how they affect your revenue, and how to resolve them.


What Is a Dispute?

A dispute occurs when a customer raises a formal complaint with their bank over a payment. This typically happens for one of two reasons:

  1. They did not receive the product or service they paid for.
  2. They did not authorize the transaction (a fraud claim).


Dispute vs. Chargeback: A dispute is the initial complaint. A chargeback is the consequence of a lost dispute. If the dispute is ruled in favor of the customer, the bank forces a reversal of the money from the merchant’s bank to the customer.

Note: A chargeback is a forced, bank-mandated reversal. It is different from a voluntary refund that you initiate yourself.

Disputes are critical and must be managed properly. Mishandling them can result in a loss of revenue, financial penalties,and lasting damage to a business' reputation.


The Big Confusion: "But the payment was successful!"

One common point of confusion is receiving a dispute on a transaction that shows as Successful on a Merchant's Monnify dashboard.

A successful payment simply confirms that funds moved from the customer's bank to your Monnify wallet. It does not mean the transaction is final. Days or weeks later, a customer can still approach their bank to dispute the charge; claiming they never received the service, or that they were incorrectly debited.


Who Makes the Final Decision?

Monnify does not make the final ruling on disputes. That authority rests with the card scheme, which operates strictly within CBN regulations.

Monnify's role is to ensure your evidence is packaged and presented compellingly, giving you the strongest possible case.


What About Friendly Fraud?

Sometimes a customer receives a product or service in full, then files a false dispute with their bank anyway. This is known as friendly fraud, and you can fight it.

If a claim is false, submit clear supporting evidence demonstrating the transaction was legitimate and the value was delivered. Once Monnify presents your evidence to the bank, the claim can be challenged and declined.


How Chargebacks Affect Your Money

Monnify does not charge you a penalty fee just because a dispute is filed. The financial impact is determined entirely by the final ruling:

  1. You Win: The customer is not refunded, and your revenue remains intact.
  2. You Lose: The disputed amount is forcibly debited from your Monnify wallet.

Important Notes on Lost Disputes:

  1. Negative Balances: If a chargeback is upheld but you have already withdrawn your revenue, your wallet will fall into a negative balance. You must clear this through future sales or by funding your wallet directly.
  2. Operational Risk: While there are no direct penalty fees, having a high chargeback volume signals risk to regulators. This can lead to stricter account monitoring or penalties over time.


Next Step: Now that you understand how disputes work, learn what evidence to submit and how to meet the deadlines. Read: How to Resolve a Dispute: Evidence & Deadlines.


Last Updated on : 5/20/2026

How to Resolve a Dispute: Evidence & Deadlines

When a customer files a dispute, the clock starts immediately. Winning a dispute requires submitting the right evidence and responding before the deadline.

Here is how Monnify processes your disputes and the steps you need to protect your revenue.


How Monnify Handles Your Disputes

We manage every dispute through a structured four-stage process:

  1. Notification: We receive the dispute from the bank and immediately notify you via email. We give you a clear explanation of the reason for the dispute, what evidence to provide, and your deadline to respond.
  2. Review: Once you submit your evidence to us, our team reviews it and determines the most effective way to challenge the claim.
  3. Submission: We process your response and submit it to the bank before their strict deadline expires.
  4. Execution (Recall) : We handle the final financial outcome with full accuracy, whether that means securing your revenue or processing the refund.


3 Mistakes That Cost Merchants Disputes And How to Avoid Them

Mistake 1: Missing the Deadline

Every dispute comes with a strict response window. Banks operate on non-negotiable deadlines known as SLAs (Service Level Agreement). If you miss your given deadline, you lose the dispute by default, and the customer receives a refund.

What to do: Treat every dispute notification from Monnify as high-priority. Aim to respond within 24 hours of receiving it.


Mistake 2: Submitting Weak Evidence

A payment receipt alone is not enough. It only proves that a transaction occurred, not that you fulfilled your end of it. You need clear, specific proof of service.

Evidence For physical goods:

  1. Signed waybills, delivery confirmations, or dispatch logs showing delivery date and time, tied to the transaction in question.
  2. Emails or messages (e.g. WhatsApp chats) where the customer explicitly confirms receipt of the item.

Evidence For digital services:

  1. System logs showing the customer accessed your platform, downloaded a file, or used the service, directly linked to the transaction.
  2. Proof that the purchase was made by a verified, registered user with a matching email address.


Mistake 3: Poor Communication

The most effective dispute strategy is prevention. Resolving a customer complaint directly and quickly, before they escalate it to their bank, is always the better outcome.

Best practice: Don't just manage disputes; learn from them. Review your chargeback patterns regularly, identify gaps in your delivery or communication process, and update your internal procedures accordingly.

Last Updated on : 5/20/2026

Quick Fixes: Resolving Common Payment Collection Errors

A few avoidable missteps can lead to delayed settlements, failed transactions, or frustrated customers. This guide covers the terminology you need to know and five common payment collection mistakes, along with how to fix them.


The Basics: Source Account vs. Destination Account

When resolving a transaction issue, our support team will typically ask about the source or destination account. Here's what those terms mean:

  1. Source Account: This is where the payment comes from. When collecting payments, this is your customer's bank account. When making a payout/disbursement, the source account is your Monnify wallet.
  2. Destination Account: This is where the payment goes to. When collecting payments, this is your Monnify wallet.


5 Common Collection Mistakes and How to Fix Them

1. Assuming a Payment Failed

A customer gets debited, but your app or website does not update. Many merchants immediately conclude the payment failed. In most cases, it didn't. The payment was successful, but your server missed the webhook notification.

The fix: Check your Monnify dashboard first. You can view the transaction status directly and manually resend the webhook notification to your server, which will instantly update your customer's order.


2. Contacting Support Without the Full Details

When a customer reports a pending transaction to you, it's tempting to escalate to Monnify Support immediately, with vague details like, "My customer paid ₦5,000 but didn't get value." This creates avoidable back-and-forth to provide relevant details, and delays resolution for your customer.

Before reaching out to support, gather relevant information from your customer, such as the transaction reference, source account details, amount, and the exact date and time of the payment. The more complete your ticket, the faster we can resolve it.


3. Delayed Settlement to Your Bank Account

If a successful payment is sitting in your Monnify dashboard but hasn't reached your commercial bank account yet, the likely cause is network downtime at your settlement bank.

The Fix:

  1. For faster, more reliable settlements, consider switching your settlement account to a Moniepoint Business Account. Since Monnify is powered by Moniepoint, settlements to Moniepoint accounts are typically instant and make your reconciliation easier.
  2. Confirm that your settlement destination is your bank account, not your Monnify wallet. To learn more about this, see Where Does My Money Go? (Settlement Destinations)


4. Slow Action on Flagged Transactions

If our Fraud Team flags a suspicious or erroneous payment to your account, dragging out the investigation creates unnecessary delays and ties up your time.

The Fix: The fastest path to resolution is responding to the fraud team’s email to avoid automatic reversal of the flagged payment. This closes the case cleanly, protects your account, and eliminates drawn-out back-and-forth with the fraud team.


5. Forgetting to Update Your Customer

When a payment issue occurs, merchants often work hard behind the scenes with Monnify Support to fix it. However, once our support agent confirms the payment is successful, merchants often forget to tell the customer.

The Fix: The moment a transaction issue is resolved, reach out to your customer immediately. Proactive communication is one of the ways to turn a customer’s frustrating experience into a reason for them to trust you more.

Last Updated on : 5/20/2026