So many businesses in Nigeria are faced with many crises considering business transactions, payment process and cost effectiveness in addition still struggling to profile solutions in order to simplify payment processing, reduce transaction costs and increase financial inclusion to make better capitals and profit in your business likewise individuals but here we have Monnify API that provides seamless payment solutions, fast, secure, and reliable source. To get started create a monnify account today for a better way to collect payments.
In this article today, we will do well to discover the power of Monniify API in our daily business life and individuals as a whole. Haven't heard of Monniify before? Let's dive right in
What is Monnify ( All you need to know)
Monnify API is a payment gateway API provided by Monnify, a Nigeria fintech company that provides payment solutions for businesses and individuals and has given opportunities to business owners in Nigeria to accept payments from customers via USSDs, mobile, and internet transfer cards either on a recurring basis or one time. Monnify was built by Moniepoint a renowned fintech company in Nigeria. Prominent organizations like Cowry wise, Thrive Agric, and Bankly employ monnify as a payment gateway. The company offers a range of services, including;
- Payment Gateway
- Payment Processing
- Merchant Services
- API Integration
The purpose of Monnify is to simplify payment processing, reduce transaction costs, and increase financial inclusion in Nigeria and across the nation.
How can you collect payments?
Monnify has given opportunity for all eligible customers and users on how to collect and accept payments directly on website via cards, bank transfers or Ussds from customers. These payments includes:
- Via Web SDK: By simply integrating Web SDK, you may accept payments from your clients using cards and account transfers on your web platforms.
- Monnify SDK: With Monnify's mobile SDK, you can accept payments from your customers via cards and account transfers within your app.
- API: You can visit the API documents. A well documented API can thoroughly describe API's, provide you everything you need to create unique projects and products.
API Endpoints
Monnify Application Programming Interface (API) provides several endpoints for different payment scenarios and it is usually in a URL form,
A sample of it could look like this "https://sandbox.monnify.com/api/v1/bank-transfer/reserved-accounts/add-linked-accounts/{{accountReference}}"
Where you see the base URL as the sandbox.monnify.com and it is usually for testing while the "api/v1 indicates the API version then the add link account.
Other potential Monnify API endpoint includes:
- Payment Initiation
- Payment verification
- Transaction Retrieval
- Recurring Payment Management
- Recurring Payment set-up
API Documentation
Documentation for APIs is to assist developers in incorporating the payment gateway into their apps, Monnify offers thorough and up-to-date API documentation. Among the documents are:
- API Reference: A thorough explanation of all parameters, response formats, and API endpoints.
- Code Samples: Sample code snippets that illustrate how to use APIs in a variety of programming languages, such as Python, Java, and PHP. Documentation about error codes, messages, and troubleshooting techniques is part of error handling.
- Security Guidelines: Recommended procedures for protecting API integrations, such as access limits, authentication, and encryption.
API Integration and Set-up
The procedure of incorporating Monnify's API into your application is simple.
Here is a detailed guide
There are certain rules and stipulated guides on creating a monnify API accept. Visit www.monnify.com already have an account? Then all you have to do is login.
Step 1: Register for an account on Monnify
Create an account on the official Monnify website. Enter with the necessary information in the space given; providing your
- Business name
- First name
- Last name
- Phone number
- Work email address
- Password: Your password should contain 8 characters minimum such as a lower case letter (a), an upper case letter (A), a special character (!@#) and a number (1).
Step 2: Obtain API Credentials
Go to the "API" area of your Monniify dashboard after logging in, create a new secret key and API key write down the URL of the API endpoints.
Step 3: Select an integration Method, Server -to- Server
Integrate your server-side application with monnify's API directly. On the other hand, integrate the payment geteway into your client side application using Monnify's JavaScript library.
Step 4: Put API calls into practice
To authenticate API queries, use the secret key, API key and API endpoint URL then put API calls into practice for payment processing including generating a payment request or getting the status of a payment.
Step 5: Execute and Test
Use monnify's sandbox environment to extensively test your integration, start by deploying your application to production and start accepting payments via monnify.
An easy step-by-step right? By following these steps and referring to monnify's API documentation you can easily integrate the payment geteway and start a fast, secure, efficient, and seamless payment process.
Key Benefits
- Faster growth
- Trusted partners
- Reliable
Here are few testimonial statements from prominent organizations
Monnify has greatly reduced our transaction cost and help us activate inactive customers with a more relatable way to top up.
John Oke wallet.africa
Monnify API has helped us to identify the opportunities increase the number of transactions and drastically cut down cost.
Ayo Arikawe CTO- Thrive Agric
Great product that actually addresses one of the largest payment channels in a unique and innovative way yet simple to use.
Matthew Idowu- Bankly