FAQs

Once you initiate a withdrawal request, we will payout within 4 -7 working days.
While we strive to provide timely payouts, processing times may vary based on external factors such as banking procedures, holidays, or technical issues.

Expedited payout options may be available for certain transactions or services, depending on the circumstances. Please contact our support team for assistance with expedited payouts.

Still need help Contact us.
Yes, we have plugins and API in place to integrate into your website's checkout page. Click HERE for more.
Settlement to vendors is made weekly into the vendors' wallets mainly by crypto. If you want fiat, you can exchange to fiat on the platform and withdraw to your local bank (fees may apply).
Yes, you can. Contact support to make a request.
Currently, you can receive payments through crypto and debit/credit cards. We are still onboarding new merchants with different payment methods.
A merchant account enables external payment providers the ability to integrate their payment solution on the Payfaci platform, whereas a vendor account is for online business people who have products or services they are selling.
Getting started typically takes just a few minutes. Once you've signed up, completed your profile and gotten verified, you can begin using our platform immediately.
No, our platform is designed to be user-friendly and accessible to individuals with varying levels of technical expertise.
No, getting started on our platform is free. However, certain services or features may have associated fees.
When you complete the KYC process, your documents will be reviewed between 3-7 working days.

How do I get started with Payfaci?

Getting started with Payfaci is easy! Just follow these simple steps:

·       Sign up: Create an account on our platform by filling out the registration form.

·       Profile Setup: Once you're registered, follow the prompts to set up your profile. This will help us tailor our services to your needs.

·       Complete KYC: As a security measure, complete the KYC (Know Your Customer) process. This helps us verify your identity and ensure compliance with regulations.

·       Explore Services: With your account registered and verified, you're ready to explore our services and features.

·       Integrate Payment Gateway: If you're a merchant, integrate your preferred payment gateway to start accepting payments seamlessly.

·       List Products: Start listing your products on our platform's store to make them accessible to potential customers.

·       Integrate Payfaci: For website owners, integrating Payfaci allows you to start receiving payments from your customers almost immediately.

 

That's it! You're all set to earn more and grow bigger.

Locked funds also referred to as Security fees, serve a crucial role in ensuring the trust, safety, and integrity of transactions conducted on our platform. As a merchant or vendor on Payfaci, you are required to allocate a portion of your funds to be locked for this purpose.

For merchants, these security fees are essential for facilitating smooth transactions. When customers make payments through your payment gateway, the funds are settled to you by the payment processor you utilize. However, to ensure that vendors who rely on your payment solution receive their rightful payments, these security fees enable us to settle any transactions smoothly and efficiently.

For vendors, having locked funds provides a safety net against potential disputes or chargebacks. In the event that a customer disputes a transaction or requests a refund, there needs to be sufficient funds available to cover such situations. By maintaining a security balance, you can easily handle refund requests or settle chargebacks without disrupting your business operations.

Ultimately, locked funds play a critical role in fostering trust and confidence among all parties involved in transactions on our platform. They ensure that transactions are conducted smoothly, disputes are resolved efficiently, and both merchants and vendors can operate with peace of mind, knowing that their interests are protected.
The amount you are required to lock depends on the number of transactions you want to process weekly. The minimum amount to lock is £500.
You can access your locked funds from 90-180 days after your last transaction on the Payfaci platform.
Security fees may be calculated based on various factors, such as transaction volume, risk assessment, or specific services utilized.
After 90 – 180 days of your last transaction on the Payfaci platform, you can withdraw your locked funds/security deposit. We recommend reviewing our terms and conditions for more information.
Security fees can typically be deposited using various payment methods accepted on our platform, such as credit/debit cards, crypto, electronic funds transfer, or deposited from first earnings on the platform.
Third-party gateways are gateways integrated by external service providers known as merchants that facilitate payment processing on our platform.
Third-party gateways may impact transaction processing times, fees, or available payment methods. We strive to integrate reliable and secure third-party gateways to enhance your user experience.
Yes, we carefully vet and select third-party gateways based on their security standards and reputation within the industry. We also ensure that they have locked funds/security deposits on the platform to protect vendors.
Withdrawal and deposit fees are 1.5% with a fixed fee of £0.30 respectively. Fees for transactions depend on the gateway you are using on the platform. As a new vendor, you are given one-month zero-fee in-app transfers.
Transaction fees may vary depending on factors such as transaction volume, currency conversion, or the specific services utilized.
Transaction fees are typically standardized and may not be subject to negotiation. However, users can have access to lower rates by earning and redeeming vouchers on the platform.
Transaction fees are usually transparent and displayed either during the transaction process or in your notification email for reference.
A voucher is a redeemable code that can be used to access lower transaction fees, to earn the Faci token, or purchase goods and services, on our platform.
As a new vendor, you are given a free voucher which earns you a 30-day zero-fee in-app transfer. Aside from that, vouchers may be obtained through promotions, referral programs, or other special offers. Additionally, they may be purchased directly from our platform.
To redeem a voucher, simply enter the voucher code or follow the redemption instructions provided. The credited amount will then be applied to your account balance.
Voucher expiration dates vary depending on the terms and conditions associated with each voucher. We recommend reviewing the details provided with your voucher for more information.

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