MONIBYTE FAQs

Monibyte is a fintech SaaS solution. For banks, Monibyte is an unprecedented addition to their commercial credit card portfolios, and mitigates credit card fraud, potentially saving millions. For companies that are corporate customers of banks that offer Monibyte, it is an invaluable tool that allows 100% control of how every credit or debit card within the organization can be used. From sums of money, to type of currency, days of the week, time of day, geographic location and specific merchant; parameters can be changed instantly from the easy-to-use, web-based interface or smart phone app, without having to contact the bank. Monibyte integrates with most major ERPs, saving time and money on accounting tasks.

Most credit card fraud is discovered when monthly statements are reviewed, long after it happens. Monibyte stops fraud before it can occur by allowing fine-tuned controls on credit card spending, updateable by authorized members of an organization in an instant, at any time, without contacting the bank. Any attempt at expenditures that have not been preapproved, are automatically denied.

Since 2014, the software has processed millions of transactions with major international corporate clients.

Yes, Monibyte uses a log-in and password, supplemented with an optional double authentication factor.

Monibyte was developed by our in-house team of programmers and engineers who work on-site at IMPESA corporate headquarters in San José, Costa Rica. None of our technology is outsourced.

Monibyte integrates with most major ERPs (Enterprise Resource Planning) and in doing so eliminates the need for expense reports, while providing analytics and data mining; along with customizable reports.

Monibyte support is provided by phone and email 24/7-365 in English and Spanish via a dedicated technical support staff through IMPESA staff employees.

No, smaller banks can benefit greatly using Monibyte because it allows them to offer a valuable product and service to current and prospective customers that larger and regional competitor banks do not have. In fact, we have documented historical growth of a less than $1 Billion bank over a period of 18 months with significant transactional growth of their commercial credit card portfolio in revenue to the bank as a direct result of Monibyte.

Impesa is not a startup company. Our statistics are just that, historical data and they are not assumptions. Our historical data in over 10,000,000 transactions has confirmed that we experienced .005% fraud, significantly below fraud statistics and as a result of implementing Monibyte software.

Depending on how responsive the bank and its processor are, it typically takes between 90 and 180 days to onboard a bank.

Yes, the Monibyte software was developed in-house by IMPESA. The company owns the code and trademark, and has all necessary intellectual property protection. And, has a legal firm on retainer that handles these matters.

Working with the bank contact, IMPESA’s onboarding process begins with an NDA (Non-disclosure Agreement) and an LOI (Letter of Intent), along with providing basic information that is used to evaluate bank and processor information.

If you chose a double authentication factor (2AF), it is implemented with google.

Monibyte has been used in several Central American and Caribbean countries over the past years. The company will release the product for retail usage to those banks that become issuers of corporate or commercial credit or debit cards, enabling them to provide Monibyte to it corporate and commercial portfolio customers as well as its retail customers.