A paycode is a short form for a payment code. It is a 10-digit number generated by merchants for their customers to take to a Moniepoint Agent to withdraw cash. The features of a paycode are:

  1. The Generated code: A 10-digit number.
  2. Beneficiary Name: Beneficiary of a paycode.
  3. Status: The status of the paycode could be Pending, Success, Expired, or Cancelled.
  4. Created Date: This is the date that the paycode was created.
  5. Expiry Date: This is a date in the future when the paycode will expire.
  6. Reference: Unique reference per merchant for each paycode.

How It Works

  1. Merchant generates paycode on the Monnify platform.
  2. Merchant shares paycode with their customer.
  3. Customer visits Moniepoint business owners.
  4. Customer provides paycode.
  5. Moniepoint verifies the paycode by calling the Monnify validation endpoint.
  6. Monnify debits merchants and returns responses to Moniepoint.
  7. Moniepoint business owners gives cash to the customer.
  8. Monnify debits the merchant’s wallet and sends it to our payment processor
  9. 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.


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

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