FAQs About Instant Pay API

What is the Instant Pay API, and how can it benefit my business?

The Instant Pay API is a unique solution designed to help businesses streamline their payment collection process. It allows you to create virtual accounts, retrieve virtual account information, and simulate account-to-account transfers. This solution is perfect for merchants with multiple locations. products or customers, offering secure, reliable, and efficient payment options.

How do I create a virtual account using the Instant Pay API?

To create a virtual account, make a POST request to the "create virtual account" endpoint, providing the accountLabel. Check our documentation for detailed instructions and sample requests.

Which bank is associated with the virtual accounts created using the Instant Pay API?

The virtual accounts created using the Instant Pay API are associated with Access Bank. The API response will equally include the name of the bank.

How can I retrieve information about virtual accounts?

You can retrieve virtual account information by making a GET request to the "get virtual account" endpoint with your authentication token. Refer to our documentation for the test endpoint and parameters.

What is the purpose of the callback URL, and how do I configure it?

The callback URL is essential for receiving updates and notifications related to your virtual accounts and transfers. You can configure your callback URL by following the specifications provided in our documentation.

Can I test the Instant Pay API before integrating it into my system?

Definitely! We offer simulation endpoints in our documentation portal, allowing you to test the creation of static virtual accounts and account-to-account transfers. These simulations are perfect for validating your use cases and testing your callback URL.

Are there any additional fees or hidden charges?

No, the pricing of the Instant Pay API is transparent, and there are no hidden charges. You will be billed at the rate of 0.2% capped at 200 NGN (Nigerian Naira) per transaction.

What happens if I transfer less than the specified amount or more than the specified amount during A2A transfers?

A:  In a situation where you or your customers mistakenly transfer more or lesser than the specified amount to the virtual accounts generated with Instant Pay API. The system will automatically reverse the excess for higher transfer or reverse all the funds to the sender's account without any charges.