After successfully uploading the necessary documents and meeting compliance requirements, your Monnify account will be activated and you will be ready to go live. Before doing so, use the checklist below to confirm that every critical component is properly configured — this ensures smooth payment collection, accurate settlements, and reliable communication between Monnify and your application.

Your sandbox API Key and Secret Key are entirely separate from your live credentials. Using sandbox keys in production means your transactions will never actually process. A video on how to access your developer keys is available Here

• Replace the sandbox base URL (https://sandbox.monnify.com) with the live base URL (https://api.monnify.com).
• Replace the sandbox API Key with your live API Key.
• Replace the sandbox Secret Key with your live Secret Key.
• Replace the sandbox Contract Code with your live Contract Code.

Webhooks allow Monnify to send real-time notifications to your server when transactions occur (e.g. payment received, disbursement completed, settlement made). Without a valid webhook URL, your application will not be notified of payment events automatically. See the different type of webhook events and sample body here

How to configure: Navigate to Developers > Webhook URLs on your Monnify dashboard. Populate the relevant fields (Transaction Completion, Refund Completion, Disbursement, Settlement) with your server's webhook URLs, then click Save.

• Transaction Completion webhook URL is set and reachable.
• Disbursement webhook URL is set (if using disbursement APIs).
• Refund and Settlement webhook URLs are set where applicable.
• Your server correctly validates the webhook hash/signature before processing notifications.

If your application uses Monnify's disbursement (transfers) API, you must whitelist your server's IP address. This ensures that only requests from your server are accepted, adding an important layer of security against unauthorized transfers. How to configure: Send an email to [email protected] requesting:

• Disabling OTP for API disbursement on your account.
• Whitelisting your server's static IP address(es).

Important: Static IP Address(ess) Supported

Monnify supports withlisting of more than one IP addressess and supports both IPv4 and IPv6 addressess. Ensure your server has a static IP address before making this request. Dynamic IPs will cause disbursement requests to be rejected after an IP change.

Every transaction on Monnify is tied to a contract. Using the wrong contract code can result in payments being processed under the wrong configuration, incorrect fee structures, or failed transactions.

• Confirm the contract code used in your integration matches your live contract on the Monnify dashboard.
• Do not reuse sandbox contract codes in your live environment.
• If you have multiple contracts (e.g. for different products or business units), verify each service is pointing to the correct contract.
• Confirm you have the right Underpayment or Overpaymen configuration. By default, Monnify rejects over or under payment.

Your settlement account is the bank account where Monnify pays out funds collected on your behalf. An incorrectly configured settlement account can result in settlements going to the wrong account.

• Navigate to Settings > Bank Accounts on your dashboard and confirm the correct bank account is linked.
• Verify the account name, account number, and bank match your intended settlement destination.
• Ensure the settlement account has been validated/verified to receive inflow.
• Configure your settlemt report email address to ensure you get report of all settlement beside Webhooks.

Monnify supports two settlement methods — Wallet and Bank Account. Your choice determines where collected funds are held before being disbursed to you but it currently defaults to Wallet.

• Wallet Settlement: Funds are settled into your Monnify wallet. You then initiate transfers to your bank account manually or via the API. This is suitable for businesses that need float or want to manage payouts programmatically.
• Bank Account Settlement: Funds are settled directly into your designated bank account during the next settlement cycle (Same day 10PM). This is the simpler option for most businesses.(Go to Settings > Contract Setup, select the contract and choose the right Settlement destination)

• Confirm your preferred settlement method is selected in your dashboard settings.
• If using wallet settlement, ensure your disbursement flow (manual or automated via API) is tested and working.