How do onboarding and KYC work?
Updated
Short answer
Personal users start at tier 1, reach tier 2 by verifying their BVN, and reach tier 3 with address and utility-bill verification. Each tier raises the daily and per-transfer limits. Merchants complete KYC, upgrade to a business account with their CAC number, CAC documents, status report and utility bill, and then request merchant access. Customers you create through the API don’t go through Payluk’s full KYC flow.
Personal account tiers
- Tier 1: default on sign-up
- Tier 2: BVN verified. Up to ₦2,000,000 daily and ₦1,000,000 per transfer.
- Tier 3: address and utility bill approved. Up to ₦5,000,000 daily and ₦1,500,000 per transfer.
- A BVN is needed before you can withdraw to a Nigerian bank account.
Merchant onboarding
- Sign up at app.payluk.ng and complete KYC.
- Upgrade to a business account. You’ll need your business name, CAC number, description, address and business email, plus uploads of your CAC document, status report and utility bill.
- Email [email protected] to request merchant access.
- Once approved, you receive your test and live API keys.
Your customers
Merchants create their own customers through the API and are responsible for knowing their customers. A BVN can be included when creating a customer, but your platform can rely on its own identity-verification provider.