How can customers pay into escrow?
Updated
Short answer
Customers can pay by bank transfer to a temporary account that is valid for 24 hours, by card (Nigerian cards, up to ₦500,000 per payment), from their Payluk wallet balance, or with cNGN on BNB Smart Chain. With Payluk Checkout, your customer pays the escrow directly at checkout, so they don’t need to top up a wallet first.
Payment options
- Bank transfer: a temporary account valid for 24 hours, or a permanent virtual account once your BVN is verified
- Card: Nigerian debit cards, up to ₦500,000 per payment
- Payluk wallet: pay from your existing balance
- cNGN, the naira stablecoin: from a whitelisted wallet on BNB Smart Chain (BEP-20)
For merchants
Use the Checkout SDK to collect escrow payments inside your app. Your customer chooses a method and the payment goes straight into the escrow. Under current CBN guidance, merchant collections must be direct escrow payments, so the Checkout SDK replaces the old merchant virtual-account endpoint.