1. Fee Model: rafiqPay charges a processing fee of 1.5% capped at ₦2,000 per card, bank transfer or USSD payment, and 0.5% capped at ₦500 when the customer pays from a rafiqPay wallet. Failed transactions incur no fee.
2. Payouts: Verified Tier 2 merchants pay out their available balance to bank accounts from the dashboard. There are no automatic scheduled settlements yet.
3. Security Holds: Loosening a security policy takes effect only after a 24-hour cooling-off delay.