• The Generated code: A 10-digit number.

• Beneficiary Name: Beneficiary of a paycode.

• Status: The status of the paycode could be Pending, Success, Expired, or Cancelled.

• Created Date: This is the date that the paycode was created.

• Expiry Date: This is a date in the future when the paycode will expire.

• Reference: Unique reference per merchant for each paycode.

How It Works

• Merchant generates paycode on the Monnify platform.
• Merchant shares paycode with their customer.
• Customer visits Moniepoint business owners.
• Customer provides paycode.

• Moniepoint verifies the paycode by calling the Monnify validation endpoint.

• Monnify debits merchants and returns responses to Moniepoint.
• Moniepoint business owners gives cash to the customer.

• Monnify debits the merchant’s wallet and sends it to our payment processor

• Payment processor credits customer’s bank account

Paycode API

Paycodes can be generated on the Monnify Web platform through the use of the Paycode generation APIs. Below is a list of endpoints required for paycode management.

1. Create Paycode: This endpoint helps generate a paycode for a transaction, check Create Paycode API for more information.

2. Cancel Paycode: This endpoint helps to cancel a paycode after it has been created, check Cancel Paycode API for more information.

3. Get Paycode: This endpoint is called to get details of a paycode that has been created.
   The paycode returned is always masked as a layer of security. check Get Paycode API for more information.

4. Get Clear Paycode: This endpoint provides a clear view of the paycode once authorization is provided, check Get Clear Paycode API for more information.

5. Fetch Paycodes: This endpoint provides all paycodes that have been created within a specific period, check Fetch Paycode API for more information.

Fees

For offline disbursements done using paycodes, a flat fee of N 100 will be charged.