Our fees for Collections

Our fees for Collections

  1. Transactpay charges a fee for each payment processed.
  1. Fees are assigned based on the currency used and the location of the payment source.
  1. Local payments in Naira attract a 1.3% transaction fee, capped at NGN 2,000 per transaction.
    All payments made with a Naira card are settled in Naira, regardless of the currency of the transaction.
  1. For International transactions, whether from cards issued locally in foreign currencies or cards issued internationally, the charge is 4.0% of the transaction amount, with no cap i.e. there is no limit.
  1. Payments made from local bank accounts in foreign currencies, such as USD, GBP, or EUR, are processed with the same 4.0% fee applicable to international cards.

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    • Can I pass the transaction fees onto my customers?

      Yes, you can pass the transaction fees onto your customers. Transactpay allows you to add these fees to the total amount your customers pay at checkout. You can set this up easily through your merchant dashboard.

    • Can I expect Settlement to be made into a domiciliary account?

      Yes. you can initiate transfers to your designated domiciliary account in line with approved compliant banks and countries. Kindly note that certain international withdrawals to bank accounts attract additional fees.

    • Can my local currency be converted to foreign currencies?

      Transactpay does not handle currency conversion for international payments. The customer's bank is responsible for converting their currency and settling us the exact amount and currency you set. This means that we can guarantee you will receive the ...