In our last newsletter, we shared that the Mono DirectPay Lookup feature is live, updates to funding limits for Mono-issued virtual USD cards, and more.
Our updates from September include expanding the Mono Issuing service to more African users, a look at how Mono powers Klump in a partner story, updated KYC requirements for our virtual USD cards, and more. Keep reading for the details.
Company & Product Updates
How Klump uses Mono to power its split payment engine
Klump is a Buy Now Pay Later (BNPL) company that allows consumers to make purchases and split payments into 4 flexible instalments, and enables merchants to convert new customers and make more sales.
For our first partner story video, Klump's Co-founder and CEO, Celestine Omin, shared how Mono empowers their team to make data-informed, fraud-proof credit decisions.
Virtual USD card issuing for other African countries
Our USD card issuing service is now available in new African countries. Your users in countries like Ghana, Kenya, South Africa, Uganda, and Rwanda, can now get a virtual dollar card to make international transactions or pay for their subscriptions online. Here's how the Mono Issuing API works.
New KYC requirements for virtual USD cards
We have made an important KYC update for our virtual USD cards. When creating a virtual dollar card, users are now required to submit additional identity information to complete the KYC process.
Nigerian users are required to upload an image of their NIN slip, International passport, or Driver's license while users in other countries are to submit an image of their international passport before they can make basic card operations.
Improved card features for virtual Naira cards
Card operations on our virtual NGN cards have been significantly improved. You can now temporarily disable or re-enable their cards, permanently delete them, and send available card balances back to your issuing wallet, if you prefer. Here's how these card operations work.
Alvin launches Finance Management API
Alvin has announced its new suite of Enterprise products; a Mono-powered personal finance management API that helps businesses or traditional banking institutions better understand their customers’ spending behaviour, and in turn, enables users to access personalized money management services.