Monnify API vs Kora Payments API Comparison: Discover the best for Payment Gateways & Processors in Nigeria

Monnify API is best for: Nigerian businesses, SaaS platforms, and fintechs that prioritize same-day settlement, competitive bank transfer fees, and a well-documented API from Moniepoint's CBN-licensed payment infrastructure.. Meanwhile, Kora Payments API is best for: Nigerian fintechs and pan-African businesses that need a single API covering card payments, mobile money, bank transfers, identity verification (BVN, NIN, CAC), and exchange rates with multi-country coverage including Nigeria, Ghana, Kenya, and South Africa.. Your choice should align with whether your team prioritizes Monnify API's developer ecosystem or Kora Payments API's specific capability set.

Monnify API provides a dedicated sandbox testing environment and has webhook status unverified. Kora Payments API offers sandbox testing and has webhook status unverified.

Monnify API pricing: Local cards/USSD: 1.5% capped ₦2,000. Bank transfer/Direct Debit: 1.5% capped ₦2,000 (or ₦500 flat). International cards: 4%. Payouts: ₦10 (<₦10K), ₦20 (₦10K ₦49,999), ₦40 (₦50K+). No setup/monthly fees. Rates exclude VAT.. Kora Payments API pricing: Pricing not publicly listed. Costs per verification deducted from account balance. Contact Kora for payment processing and identity service fees. Sandbox/test mode available for free.. Both platforms offer tailored pricing structures for Nigerian transactions.

Monnify API uses Basic Auth (base64 of apiKey:secretKey) OR OAuth Bearer Token authentication with Not publicly specified. Kora Payments API uses Bearer Token (Secret Key from Kora Dashboard, base URL: api.korapay.com/merchant) authentication with Not publicly specified contact Kora for limits.