Product Highlights

M-Pesa connection is back on the Mono widget

We have restored the M-Pesa connection on the Mono widget! Now your users in Kenya can securely link their M-Pesa account for financial data retrieval via our new USSD authentication method.

How it works

1. Users enter their valid phone number.

2. They follow the steps below on their mobile device to send their M-PESA statement via USSD:

   1. Dial 334#

   2. Select “My Account”

   3. Select “M-PESA Statement”

   4. Select “Request Statement”

   5. Select “Full Statement”

   6. Select “Last 12 Months”

   7. Enter mpesa@mono.co and confirm it

   8. Enter your M-PESA PIN

3. Once completed, an OTP will be sent to the phone number, which can be entered in the widget to complete the account linking process.

Real-time data support for telco connections

We have made an update to the Mono Telco API to enable you retrieve up-to-date balances and transaction data from MTN and Airtel telco connections using our Real-Time API. You can learn more about how it works here.

Product Improvements

Financial Institutions

1. First Bank Mobile Banking: This issue has been resolved and the connection fully restored. Users can now successfully link their First Bank mobile accounts to make payments to your business.

2. Union Internet Banking: The issue has been resolved and the connection fully restored. Users can now successfully link their Union internet banking accounts to share their financial data with your business.

3. Vulte Internet Banking: This connection has been fully restored. Users can now successfully link their Vulte internet banking accounts to share their financial data with your business.

Mono API

Rate-limiting retrial attempts for failed Direct Debit transactions

We are introducing a fair and transparent rate-limiting policy on retrials for failed Direct Debit payment attempts. This rate-limiting policy will be implemented on Tuesday, 10th June 2025 and helps us to prevent excessive failed transactions while allowing likely-to-succeed payment attempts to proceed. It also allows us to maintain good engineering and API standards and reduce the strain that multiple debit attempts puts on our infrastructure.

These retrial rate limits will be applied based on the reason for debit failure.

1. If a payment fails due to insufficient funds: After a payment fails due to the account having insufficient funds, you can only attempt a debit to the customer’s account five more times on that day.

2. Other bank errors: If a payment fails as a result of errors resulting from bank downtimes or similar errors, you are allowed 10 retrial attempts on that day.

These rate limits in both cases reset automatically, once a payment is successful

Debiting more efficiently with Mono Balance Inquiry

To help you ensure more successful debits and deliver improved payment collections, we have implemented the Mono Balance Inquiry endpoint, so you can:

• Check that a customer’s account has sufficient funds for that specific transaction before initiating a debit. [Using this service costs NGN 10 per API call].

• View your user’s current account balance in real time. This service costs NGN 50 per API call.

To integrate this endpoint, you can check our API documentation.

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Email us at support@mono.co