Secure and seamless payments are the lifeblood of businesses and commerce in Africa and the rest of the world. Over the last decade, card payments have been the most popular digital payment method across Africa. Cards are still an innovative piece of technology and an integral part of our business and personal financial lives. As the years have gone by, payment has seen more innovation and we're excited to be an active part of the future of payments.
As a company with the vision to power the internet economy in Africa, we're excited to announce that we have partnered with one of Africa's most successful payment processors, Flutterwave, to deliver a new way for customers to experience online payments and for businesses to collect payments from their customers. Via the Flutterwave 'Pay with Bank' option powered by Mono's direct bank transfer product, customers can make instant and secure payments to Flutterwave merchants.
How does the Mono-Flutterwave Pay with Bank method work?
Regular bank transfers require users to memorize account numbers, account names, and other details that can cause the payment process to be slow and prone to errors.
This partnership eliminates the need for customers to manually enter account numbers and other direct, merchant/business bank details.
Through this payment method and partnership, customers who need to pay Flutterwave merchants can do so by securely entering their login details to link their bank accounts, having their identity and account ownership verified, and then authorizing the payment.
Here's a short video that will show you how to pay a Flutterwave merchant using the Pay with Bank option.
Questions you might have and answers to them
In what countries is the Pay with bank channel available?
The Mono-Flutterwave Pay with Bank channel is only available in Nigeria, for now.
Is the Pay with Bank option safe?
Yes, this payment method is secure as it ensures that customers verify their identity and authenticate account ownership before the payment can be authorized. This protects against fraud attempts and limits chargebacks.
Are my credentials safe?
Yes, your login details are doubly protected by both Mono's AES 256-bit encryption and Flutterwave's security protocols.
How will I receive settlements for these payments?
Flutterwave merchants will receive settlements at the usual, scheduled periods.
Get started today
For existing Flutterwave merchants:
To start accepting payments via the Pay with Bank channel on the Flutterwave checkout, simply log in to your Flutterwave dashboard to enable the Pay with Bank option.
For new merchants
Simply visit flutterwave.com to sign up and create a merchant account and start accepting payments via the Pay with Bank channel in minutes.