For every payment you receive from your customers, Korapay settles you to make the funds available for use or withdrawal. Settlements make up the final phase of any payment collection. Once you’re settled, you can either choose to withdraw the funds from your account or make payouts as you wish. A list of all your settlements (both pending and settled) and their scheduled dates can be seen in the Settlements page on your dashboard.
On the Settlements page, you can also see the accumulation of the unsettled transactions for the day that will be ready to be settled at the end of your current settlement cycle
While a single pay-in can be settled individually, it is possible for a settlement to cover a batch of pay-ins that have occurred within a specified period (see settlement mode) to improve the efficiency of timing and availability. In any case, you can always see the transactions that make up a settlement on the Settlements Detail page.
By default, all settlements are paid into your Korapay balance. However, you can choose to receive these settlements in your bank account.
Receive settlements in your local currency (Nigerian Naira) and bank account - Nigerian Merchants only. Learn more
Updated 10 months ago