Four months ago, we launched the Mono Direct Debit product fully to businesses in Nigeria, enabling them to securely and easily set up direct debit mandates on customers" accounts and collect faster recurring payments using the Mono Direct Debit API.
Staying true to our dedication to build ease-of-use into highly technical experiences and products, we decided to provide businesses with an even easier way to initiate and collect direct debit payments with Mono. Today, we’re excited to introduce the No-code Mandate setup feature on Mono Direct Debit. This enables businesses to seamlessly and securely create direct debit mandates via the Mono dashboard without writing a single line of code.
The No-code Mandate feature is ideal for businesses that need a simpler and faster way to initiate direct debit mandates and accept automated recurring payments, ensuring that they don’t need to implement the mandate authorization API flow into their product, from scratch.
An added advantage of the No-code Direct Debit Mandate setup for businesses is the flexibility to upload and digitize signed paperwork mandates directly on the dashboard to initiate recurring payments on customers’ accounts. This is a particularly useful feature for businesses that serve customers who prefer physical mandate forms.
What you can do with the No-code Mono Direct Debit Mandate setup feature
With the no-code mandate setup feature on the Mono dashboard, you can:
set up, pause, cancel, or reactivate a Direct Debit mandate
view the total payment, total outstanding, and total debited amount on created mandates
verify the customer’s information for accuracy during the mandate setup process
easily debit mandated customer accounts in one click
track and monitor the payment status of created mandates
upload and manage physical mandate forms
and instantly create a no-code Direct Debit widget you can share with your customers to enable them to authorise a mandate on their accounts
How to create a No-code Mono Direct Debit Mandate
Here’s how to create a no-code payment mandate directly on your Mono dashboard.
Log in to your Mono dashboard. Create a free Mono account here, if you don’t have one.
Navigate to the Mandates tab.
Click the ‘Create a mandate’ button, choose your preferred mandate type, and enter the required details.
After this is set up, a mandate link will be generated and automatically sent to the customer to authorize the mandate on their account via the Mono Direct Debit widget. You can also copy the mandate link and share it with the customer via email.
After the customer authorises the mandate on their account and their bank approves the mandate, you can initiate a direct debit transaction on their account, based on the agreed payment terms.
Benefits of using the No-code Mono Direct Debit Mandate Setup
1. Faster mandate setup process: The No-code Mandate feature lets businesses like credit risk or insurance teams instantly set up payment mandates on their customers’ accounts and accept automated recurring payments without hiring a developer to handle the technical implementation of the Direct Debit API. This also means they can quickly create mandates without writing a single line of code and start collecting payments in no time.
2. Real-time mandate monitoring: Businesses can track the status and progress of direct debit payments, monitor customer information for every created mandate, settlement status, and more, all in one place using the Mono dashboard.
3. Manage physical mandates: The No-code Mandate feature allows you to upload and manage signed physical mandate forms directly on the dashboard, to set up mandates on customers’ accounts. This is usually best for businesses that serve customers who may not have online banking details and need to authorize mandates physically on their accounts.
How to create a No-code Mono Direct Debit Mandate
If you already have a Mono account, follow the steps below:
Log in to your Mono dashboard
Create an app with the scope set to DirectPay
Fund your Mono wallet or request an invoicing system for mandate creation fees
Create a mandate and share the generated mandate link with the customer
Once the mandate is approved, initiate a direct debit on the customer’s account.
If you’re using Mono for the first time
Create a free Mono account at mono.co/signup
Submit all required business documents and complete the compliance process
Create an app with the scope set to DirectPay
Follow this guide to request access to Direct Debit or email us at sales@mono.co
Fund your Mono wallet or request an invoicing system for mandate creation fees
Create a mandate and share the mandate link with the customer
Initiate a direct debit transaction directly on the customer’s account after the mandate has been approved.
Common questions you might have and answers to them
Is the No-code Mandate setup feature available to all businesses?
No, the No-code Mandate feature is only available to businesses operating in Nigeria. All partners who have already integrated the Mono Direct Debit API can also access this feature on their Mono dashboard.
2. Does Mono charge a separate fee to use the No-code Mandate feature?
No, we don’t. Instead, we charge a mandate creation fee of NGN 50 from your Mono wallet for every approved signature mandate and a 1% transaction fee capped at NGN 1000 for every successful direct debit payment.
3. How long does it take for a mandate to be approved?
This depends on the authorization method and varies from bank to bank. However, e-mandates take 1 minute while the approval time for signature mandates takes between 1 hour to 72 hours.
4. Can you set up multiple mandates with the No-code Mandate feature?
You can create multiple mandates on different customer accounts using the No-code Mandate feature on the Mono dashboard.
If you have more questions or feedback to share, please email us at support@mono.co — we'd love to hear from you!
