Moniepoint

Overview

Moniepoint Inc. (formerly TeamApt) is a CBN-licensed financial institution providing payment and banking services for businesses and consumers in Nigeria. Operating as a CBN-licensed Switch, Processor, and Microfinance Bank, Moniepoint processes $250B annually and serves 20M+ accounts with comprehensive financial services. The B2B payment gateway operates under the Monnify brand (developers.monnify.com), supporting NGN payments via cards, bank transfers, USSD, reserved virtual accounts, direct debits, and offline cash collections.

Primary Market

Nigeria (expanding to Kenya, UK, US)

Currency

NGN (Nigerian Naira)

Regulation

CBN-licensed MFB, NDIC-insured

Settlement

Same-day for transfers, next working day for cards

Key Products

Business Account

Free CBN-licensed business bank account with instant verification and 24/7 support

Payment Collection

Accept payments via bank transfer, cards, USSD, and reserved accounts (1.5% fee, capped at ₦2,000)

Disbursements

Single and bulk transfers to Nigerian bank accounts with 2FA and async processing

POS Terminals

Physical terminals with instant settlement and 99.9% reliability (₦21,500)

Reserved Accounts

Dedicated virtual accounts for customers - ideal for wallet funding

Direct Debits

Recurring payments via Open/Closed and Flexible/Fixed mandates

Payment Channels

One-Time Payments
Reserved Accounts
Direct Debits
Offline Collections

Accept single payments via:

Bank Transfer: Dynamic virtual accounts generated per transaction
Debit Cards: Visa, Mastercard, Verve with PIN/OTP/3DS
USSD: Dial-to-pay codes (no internet required)
Phone Number: Direct payment via phone

Integration via:

Monnify Checkout JS SDK
Direct API calls
Payment Links (no-code)

View Documentation

Permanent virtual accounts assigned to specific customers:

Dedicated account number per customer
Automatic payment reconciliation
Ideal for wallet funding and utility billing
Requires BVN or NIN for KYC

POST /api/v2/bank-transfer/reserved-accounts
{
  "accountReference": "cust_12345",
  "accountName": "John Doe",
  "currencyCode": "NGN",
  "contractCode": "your_contract_code",
  "customerEmail": "[email protected]",
  "bvn": "22222222222",
  "customerName": "John Doe"
}

View Documentation

Authentication

Monnify uses a two-step authentication process:

Generate Access Token

POST to /api/v1/auth/login with Basic auth (base64 of apiKey:secretKey):

POST /api/v1/auth/login
Authorization: Basic base64(apiKey:secretKey)

Returns JWT accessToken

Use Bearer Token

Include the access token in all subsequent requests:

Authorization: Bearer {accessToken}

Note: Tokens expire - re-authenticate proactively

Environments

Environment	Base URL
Sandbox	`https://sandbox.monnify.com`
Production	`https://api.monnify.com`

Test Credentials & Cards

Key API Endpoints

Collections (Payments)

One-Time Payments:

POST /api/v1/merchant/transactions/init-transaction - Initialize transaction
GET /api/v2/merchant/transactions/query - Query payment status

Reserved Accounts:

POST /api/v2/bank-transfer/reserved-accounts - Create reserved account
GET /api/v2/bank-transfer/reserved-accounts/{accountReference} - Get account details

Direct Debits:

POST /api/v1/direct-debit/mandate/create - Create mandate
POST /api/v1/direct-debit/account/debit - Execute debit

Full Collections API

Disbursements (Transfers)

Transfers:

POST /api/v2/disbursements/single - Initiate single transfer
POST /api/v2/disbursements/batch - Initiate bulk transfer
POST /api/v2/disbursements/single/validate-otp - Authorize with OTP
GET /api/v2/disbursements/wallet-balance - Check wallet balance

Transfer Status:

GET /api/v2/disbursements/single/summary - Single transfer status
GET /api/v2/disbursements/bulk/{batchReference}/transactions - Bulk batch status

Note: Disbursements require approval from [email protected]Full Disbursements API

Sub-Accounts & Splitting

Transaction Splitting:

POST /api/v1/sub-accounts - Create sub-account
Configure incomeSplitConfig in payment requests
Split revenue across up to 5 sub-accounts

Transaction Splitting Guide

Verification

Live Environment Only:

GET /api/v1/disbursements/account/validate - Validate bank account
BVN/NIN verification (requires approval)

Verification APIs

Webhooks

Monnify sends webhook notifications for transaction events. Validate using SHA-512 HMAC:

const crypto = require('crypto');
const signature = crypto
  .createHmac('sha512', secretKey)
  .update(rawRequestBody)
  .digest('hex');

// Compare with 'monnify-signature' header
if (signature === request.headers['monnify-signature']) {
  // Valid webhook
}

Always verify server-side using the Query Transaction API before delivering value. Webhook Documentation

POS Terminal API

Integrate with Moniepoint POS terminals:

Push transactions to terminals: POST /v1/transactions
Query status: GET /v1/transactions/merchants/{merchantReference}
Webhook events: Real-time transaction notifications
Authentication: API Key-based Bearer Token

POS API Documentation

Important Notes

All amounts are in kobo (NGN subunits) - 10000 = ₦100.00
Always verify transactions server-side before delivering value
Deposits are NDIC-insured (up to ₦500,000 per depositor)
Operations comply with Nigeria Data Protection Act 2023
Default pay-in fee: 1.5% capped at ₦2,000
Bank transfers settle same day at 10 PM
Cards/USSD settle next working day at 10 PM

Features Requiring Approval

Contact [email protected] or [email protected] for:

Disbursements (transfers/payouts)
Sub-accounts (transaction splitting)
Wallets (sub-wallet creation)
Bills Payment (airtime, data, utilities)
Verification APIs (BVN/NIN - live only)
Offline Collections (agent cash payments)

SDKs & Integration Tools

Web SDK

JavaScript checkout popup - MonnifySDK.initialize()

Mobile SDKs

Native Android, iOS, Flutter SDKs

Server Libraries

Node.js, PHP, Python, React wrapper

E-commerce Plugins

WooCommerce, WHMCS plugins

Using with AI Tools

Add Moniepoint’s llms.txt to your AI context:

# Direct URL
https://developers.monnify.com/llms.txt

# Or use with Claude Desktop
{
  "mcpServers": {
    "moniepoint": {
      "command": "npx",
      "args": ["-y", "@nigerianfintechllmstxt/server", "--provider", "moniepoint"]
    }
  }
}

Resources

Monnify API Docs

Complete API documentation and guides

API Explorer

Interactive API testing (Scalar-powered)

POS Terminal API

POS integration documentation

Support Center

Help articles and FAQs

API Status

Real-time uptime monitoring

Engineering Blog

Technical insights and R&D

Additional Services

Business Services

Business Savings: Up to 17.5% p.a. interest (Fixed Deposit)
Working Capital Loans: Collateral-free loans from ₦1M (24-40% p.a.)
Expense Cards: Corporate debit cards with spending controls
Moniebook: Automated bookkeeping and inventory management
CAC Registration: Business name registration (₦19,000)

Business Solutions

Personal Banking

Personal Account: Free account with debit card
Savings: Up to 17.5% p.a. interest
Bill Payments: Airtime, data, electricity, cable TV
USSD Banking: *5573# for offline access

Personal Banking

llms.txt File

The Moniepoint llms.txt file is available at: Source: ~/workspace/source/moniepoint/llms.txt Online: https://developers.monnify.com/llms.txt This file contains comprehensive documentation for:

Payment collection APIs (Monnify)
Disbursement and transfer APIs
Reserved accounts (virtual accounts)
Direct debit mandates
POS terminal integration
Verification APIs
Webhook handling
Authentication flow
SDKs and integration tools
Test credentials and sample data

Payment Platforms

Open Banking

Banking & Payments

Overview

Primary Market

Currency

Regulation

Settlement

Key Products

Business Account

Payment Collection

Disbursements

POS Terminals

Reserved Accounts

Direct Debits

Payment Channels

Authentication

Environments

Key API Endpoints

Webhooks

POS Terminal API

Important Notes

Features Requiring Approval

SDKs & Integration Tools

Web SDK

Mobile SDKs

Server Libraries

E-commerce Plugins

Using with AI Tools

Resources

Monnify API Docs

API Explorer

POS Terminal API

Support Center

API Status

Engineering Blog

Additional Services

llms.txt File

Build docs developers (and LLMs) love

Payment Platforms

Open Banking

Banking & Payments

​Overview

Primary Market

Currency

Regulation

Settlement

​Key Products

Business Account

Payment Collection

Disbursements

POS Terminals

Reserved Accounts

Direct Debits

​Payment Channels

​Authentication

​Environments

​Key API Endpoints

​Webhooks

​POS Terminal API

​Important Notes

​Features Requiring Approval

​SDKs & Integration Tools

Web SDK

Mobile SDKs

Server Libraries

E-commerce Plugins

​Using with AI Tools

​Resources

Monnify API Docs

API Explorer

POS Terminal API

Support Center

API Status

Engineering Blog

​Additional Services

​llms.txt File

Build docs developers (and LLMs) love

Overview

Key Products

Payment Channels

Authentication

Environments

Key API Endpoints

Webhooks

POS Terminal API

Important Notes

Features Requiring Approval

SDKs & Integration Tools

Using with AI Tools

Resources

Additional Services

llms.txt File