Automating Australian businesses to receive, manage and pay funds

Monoova is using the NPP to offer businesses real-time account payables and receivables functionality via a single API integration to its enterprise-level payments solution.

Monoova clients are rapidly scaling companies where manual processing is an obstacle to growth. For these companies, APIs to manage their payment workflows are critical.

For most larger businesses, the full benefits of real-time, data-rich payments are only enjoyed if there is API access. The advantage of real-time receivables, for instance, is diminished if there isn’t a real-time notification that can trigger business logic in the company’s own software environment. If a real-time payment is only ‘noticed’ when someone logs on to their banking portal, the onward payment flow is not real-time.

To illustrate: with Monoova, a digital marketplace selling shoes can receive an automated, real-time notification when $100 have been received using the NPP. This can trigger an automated message back to Monoova to split those $100 into (1) an $80 payment to the vendor, (2) a $15 payment to the courier shipping the shoes and (3) a $5 payment to the marketplace’s own revenue account.

This happens without any human interaction, supported by reporting at every step of the way. And if the onward disbursement is done via NPP, then the time between the shoes being bought, the reports delivered and the vendor, courier and marketplace receiving their funds could be as little as seconds.

Monoova supports an array of payment methods including direct entry and BPAY. In the shoe example above, for instance, the courier might only accept BPAY payments. In that case, Monoova will pay to a biller code and customer reference number rather than a PayID.

Yet, increasingly, everyone is going to expect real-time. This is why Monoova believes that giving companies access to NPP through APIs is core to both their and our success.

For more information, please see