Recurring Payments

Recurring payments let you collect money from customers on an ongoing basis without requiring them to manually initiate each payment. Monnify supports three approaches depending on your use case, so pick the one that fits your product.

When to use recurring payments:

Use recurring payments for subscriptions, loan repayments, insurance premiums, wallet top-ups, or any scenario where you need to collect money from the same customer more than once.

Choose Your Approach

Reserved / Virtual Accounts

Assign a dedicated virtual account number to each customer. Every transfer they make to it is automatically reconciled, with no payment initiation needed from them.

Direct Debit / Mandates

Create a mandate, the customer authorises it, you debit their bank account automatically on a schedule. Ideal for loan repayments, insurance premiums, and SaaS billing.

Card Tokenization

Tokenize a customer's card on their first payment and charge the token for subsequent payments, with no checkout UI needed for future debits.

Choosing the Right Method

Method	Customer action required	Best for
Reserved Account	Transfer to their dedicated account	Wallet top-ups, savings, investment apps
Direct Debit	One-time mandate authorization	Loan repayments, insurance, subscription billing
Card Tokenization	First card payment only	SaaS subscriptions, one-click renewals

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