Question 1

What is Monnify and how does it work?

Accepted Answer

Monnify is a payment gateway that enables businesses to accept one-time or recurring payments from customers via cards, bank transfers, USSD, mobile money, and phone numbers. It works by integrating web or mobile SDKs, or using APIs to generate payment links, dynamic account numbers, or hosted checkouts on websites and apps.

Question 2

How much does Monnify cost?

Accepted Answer

Monnify charges only for successful transactions, typically 1.5% per local payment (cards, bank transfers, USSD) capped at ₦2,000 with no setup or monthly fees, plus a few other small fees for cash collection and payouts.

Question 3

What countries does Monnify operate in?

Accepted Answer

Monnify operates in Nigeria.

Question 4

How do I sign up for Monnify?

Accepted Answer

Visit monnify.com and click 'Get Started' to begin the onboarding process, which includes a hassle-free signup with a testing area for experimentation.

Question 5

Does Monnify have a mobile app?

Accepted Answer

Yes, Monnify has a mobile app called Monnify Merchant available on iOS and Android for managing payments, transactions, and settlements.

Question 6

Who is Monnify best suited for?

Accepted Answer

Monnify is best suited for businesses in Nigeria needing to accept online payments via cards, bank transfers, USSD, and other methods on web or mobile apps.

Question 7

How do I contact Monnify support?

Accepted Answer

Contact Monnify support through their website at monnify.com or via the Monnify Merchant mobile app.

Question 8

Does Monnify have a plan for teams or businesses?

Accepted Answer

Yes, Monnify is designed for businesses and supports multiple businesses within the merchant app.

Question 9

Does Monnify offer an API or integrations?

Accepted Answer

Yes, Monnify offers a public API. View the official Monnify API documentation for endpoints, authentication, and integration guides.

Question 10

What popular product is Monnify an African alternative to?

Accepted Answer

Monnify is an African-built alternative to Stripe.

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