Mobile money payment platform, Paga has announced the launch of a new feature for developers called the Collect API . According to the brand, the Collect API will enable business to initiate a payment request from customers and automatically get notified when the payment request is fulfilled. Such businesses can choose to have payment sent instantly to a bank or mobile money account thus enabling P2P without any customer giving out their bank login details.
With the Collect API function, payer can either pay from any bank or mobile money account, use their card, pay via QR or offline at agent locations.
Speaking on the function, Paga’s founder and CEO, Tayo Oviosu said the function was borne out of the need developers raised to:
- Request payments via an API that gave the customer several options to pay and for real-time notification upon payment.
- Need for seamless P2P payments — so many developers are building solutions that can leverage payments between two parties without forcing either payer or payee to use a specific platform.
- Developers want to stay within their own applications and have control over the user experience vs using the gateway’s UI.
- Trust was important — customers might be wary of entering their bank usernames or passwords into non-regulated third-party applications.
Why is the Collect API useful?
Using your own application, you can request payments and provide your customer many ways to pay. Payments can be made by bank transfers, mobile money transfers, card payments, USSD transfers, QR codes, and payment links to make the payment later.
As a developer, you have the power to choose how you display these options to your customer.
As an example, if your customer uses GT Bank you can show them the *737# string to dial directly on their phone to instantly pay for the transaction.
Or display a QR code for customers to scan and pay via their bank or mobile money app.
You no longer need to provide your own company or personal bank account to customers.
Instant Notification upon Payment
Rest easy, we notify you when payment has been made and you can then trigger other business processes and eliminate all those reconciliation issues.
The Collect API enables P2P!
If your goal is to enable P2P transactions, look no further. With the Collect API, your application can enable one person to pay another person directly. With instant notifications, your application gets notified of the transaction. Neither person needs to have a Paga account.
