How are sellers and providers paid?
Updated
Short answer
When an escrow is released, the seller’s share (minus their part of the fee) is credited to their Payluk balance immediately. From there they withdraw to any Nigerian bank account, with a minimum of ₦1,000 and a small flat fee plus VAT. Merchants can serve many sellers, each with their own wallet. A single escrow pays one seller, though milestone escrows can pay a different customer for each milestone.
From release to bank
A release credits the seller’s Payluk balance at once. A withdrawal to their bank is a separate step that the seller (or the merchant’s integration) starts whenever they want.
Multiple sellers and splitting funds
- Merchants can create as many seller and buyer customers as they need, and each has a wallet.
- Each standard escrow pays one seller.
- Milestone escrows can name a different beneficiary for each milestone.
- A platform commission is split out automatically when an escrow completes. See “Marketplace and platform fees”.