An important part of the financial system is the movement of money. But some of this process is currently broken, especially when it comes to payouts.
Traditional payouts force you to prefund your wallet or accounts before you can disburse funds. This slows the payment process down, causes delays, and leaves room for inaccuracies.
These legacy processes lock up your capital in funded accounts and increase operational risk. This might be why e-commerce merchants can’t access their own earnings to pay logistics partners, or a lender can’t instantly disburse loans to approved borrowers.
To solve this for Nigerian businesses, we’re excited to announce the launch of Mono Disburse, a simple way to transfer funds between two or more accounts faster and more intuitively.
What comes in Disburse
Automated transfers: Send single and bulk transfers at scale without manually entering account details and making repetitive, individual transfers.
Full-on visibility: Disburse payouts directly from your bank account so you have control over how and when your funds move.
Scheduled or instant payouts: Choose between scheduling your payouts for a later date or processing them instantly.
Secure disbursements: Make secure transfers that are protected with high-grade encryption and account verification checks.
How businesses can use Mono Disburse
Loan Disbursements
Lenders can use Disburse to instantly send approved loan amounts straight to a borrower’s bank account or to multiple accounts at once. This shortens the time from loan approval to disbursement, so customers can get the cash they need faster and enjoy a smoother borrowing experience.
2. Salary Payments
Payroll services or small businesses that pay weekly wages or monthly salaries to employees can automate the payout experience with Disburse.
Instead of sending salary payments individually through bank transfers, HR and Finance teams can schedule bulk transfers to multiple accounts at once, ensuring employees are paid on time without manual effort. For example, a chain restaurant can process salaries directly into the bank accounts of all 1,000 of its kitchen staff at the same time.
3. Vendor Settlements
Marketplaces and e-commerce services often have to make regular payouts to the merchants and sellers on their platform. This settlement process can take from 24 to 48 hours before funds are fully disbursed in the merchant’s account. With Disburse, you can automate payouts to hundreds of merchants at once, ensuring faster settlements. Hospitality, Logistics, and Ride-hailing businesses can also pay their vendors, merchants, riders, and other gig workers on schedule, without delays.
4. Customer Refunds
If your business collects payments online, you may need to refund customers for returns or payment errors. To handle these efficiently and ensure that they don’t erode customer trust, businesses need to issue refunds as fast as possible. Disburse makes it easier to process small-value and high-volume refunds straight to customers’ accounts instantly.
How to get started with Disburse
Disburse can be implemented in your service in two ways:
Integrate the Disburse API using our technical guide
Initiate a Disburse payout via the Mono Dashboard
For existing users
If you already use Mono, you can request access to Disburse directly from your dashboard. Navigate to Products → Payments and click the ‘Request access’ button.
For new users
If you’re new to Mono, sign up here and provide the necessary requirements to get started, then request access to Mono Disburse. Once access to Disburse is granted, you can either follow our integration guide to use the Disburse APIs or initiate payouts via the Dashboard.
Questions you may have and answers to them
Do I have to fund my Mono wallet to use Disburse?
No, you don’t need to fund your wallet. Instead, you need to link your business bank account to make single or bulk transfer payouts directly.
2. What is the maximum number of accounts that can be linked?
There’s no limit to the number of business accounts you can link on Disburse.
3. Is Mono Disburse secure?
Yes, Mono Disburse is secure. We only have read-only access to your linked accounts and can’t initiate transfers without your permission. Your account and identity information are verified before it can be connected. Your account details are also encrypted with bank-grade security.
4. How much does Disburse cost?
To use Disburse, you’ll be charged a debit fee of N35 and a tiered fee per successful disbursement. This is split into:
N25 for transfers ofN5,000 and belowN30 for transfers betweenN5,001 andN50,000N35 for transfers aboveN50,001
5. Can I track the status of disbursements?
Disbursements can be tracked in real time. We send webhooks for individual and bulk transfers, and you can track the status of disbursements on your dashboard.
Mono Disburse gives businesses a more flexible way to move money across multiple Nigerian accounts at scale, so their payout operations run more smoothly. From loans to salaries, refunds and vendor settlements, Disburse helps businesses reduce processing errors and stay in control of their cash flow.
If you’re looking to set up Disburse for your business, you can check our integration guides and support resources for all the information you need. To discuss more tailored options for your business, you can reach out to us at sales@mono.co.
