Monapay , founded by Hugo Obi in November 2016, is an airtime payment solution in Nigeria that enables Nigerian digital content producers to earn money for their content via airtime. This includes games, music, comics, e-books, and the likes.
How it Started
Fintech is fast becoming a great deal in developing countries, especially in Africa, today. However, a lot of fintech services tend to focus on using credit card to make payments, but with Monapay, you don’t have to worry about your card security, since payment completely depends on airtime. The most interesting thing about Monapay is that digital content producers now no longer have to sacrifice a lot of money and time to monetize their content using airtime. Before now, digital content producers found it really difficult to monetize their content using airtime, as they had to go through unfavourable terms while holding meetings upon meetings, which at the end isn’t so cost-effective. This is different with Monapay, as it is much easier, cheaper and flexible by letting users charge for one-off payments, enable in-app purchases or create a subscription service.
Hugo Obi saw the need for this and arrived at the conclusion that no one really needs to go through so much stress to enable airtime billing for their product. Monapay is certainly ready to make online payments less complicated for everyone, by letting developers enable airtime billing without even talking to any network or holding meetings.
How it Works
If you are a digital content producer, this is for you.
- Search for www.monapay.com and sign up to create an account
- Create and edit your products
- Integrate and view your earnings from the merchant portal
- Access transaction information, customer behaviour data and other performance
metrics with the dashboard
- Integrate and monetize your products by Direct Carrier Billing (DCB)
The Direct Carrier Billing (DCB)
DCB is the world’s most popular mobile payment that requires integration with a mobile network operator, such as MTN, Airtel, Glo and 9Mobile. With Monapay, you can use this method to pay for your goods and servicers, including games, comics, e-books, wallpapers, music and more. Some of its benefits as outlined by Monapay include:
- Instantaneous payments.- Protection of customer identity.
- Elimination of fraud.
- Ease of bill payments.
- Lower customer support costs for service providers and merchants.
- Price point flexibility.
- Higher customer reaches than credit cards.
Why Monapay Stands Out
- Monapay supports the best payment type that works for your business, and this
includes one-time fees, subcriptions or in-app billings
- You can test and validate your products/services without talking with any network.
You just need to copy the code from the site and integrate it.
- Integration takes less than 24 hours
- The support team will always help if you need support with integration
- You can easily access customers who can pay for your products with their airtime
- Merchant payouts are done every 45 days
What Monapay means to You
Fintech in Africa has been progressing in the past few years, getting some of the loudest buzz with startups booming the scene. Monapay, within its short existence, has also been able to contribute to this growth in Africa. The response so far to this idea has been appealing, and Hugo Obi mentions how delighted some game developers are about the move.
Monapay has not completely invaded Fintech in Nigeria, and as such, not so many people are aware of it. But we do know that this awesome idea won’t be kicked aside by any developer, since it’s a clear solution to what used to be a challenge. Monapay is currently only integrated with 9mobile in Nigeria, which limits people on other networks, but they are actively working to ensure everyone on any telcos network in Nigeria can make payments as soon as possible.