Moniepoint Engineers Discuss Online Transaction Failures

During the inaugural Moniepoint ‘Off the Record Engineering Mixer’ in Lagos, senior engineers from various fintech companies, including Flutterwave, Cowrywise, and Nomba, addressed the challenges of online transaction failures in Nigeria. They identified unreliable and weak infrastructure as significant contributors to these failures.

The Mixer focused on topics such as “Building for Scale” and “Building Distributed Systems for POS at Scale,” examining the operational realities of financial technology infrastructure. Ayomide Kolawole, Engineering Manager for Card Payments at Moniepoint, articulated the company's commitment to ensuring that customers do not bear the costs of uncertainties in the payment system.

He explained that Moniepoint's infrastructure processes tens of millions in daily transactions and is designed to fail fast when a transaction is unlikely to succeed. The system continuously monitors the health of issuing banks and automatically halts transactions to prevent delays and risks associated with transaction failures.