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Nigeria · Payouts

Local NGN payouts for Nigerian merchants

International payments in. NGN in your Nigerian bank account out. No domiciliary juggling, no spreadsheets — one dashboard, one payout flow.

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How NGN settlement works

Your customer pays an invoice or PayKato link in their own currency. The licensed processor partner captures and clears the payment. PayKato then instructs a licensed payout partner to convert and send NGN to your Nigerian bank account.

The settlements screen shows you a full breakdown: gross collected, processor fee charged by the card or bank partner, PayKato platform fee (from 1.5%), FX estimate, and the net NGN you'll receive on payout.

Timing — what to expect on payout day

Card payments usually clear T+2 to T+3 with the processor. Bank transfers clear faster but partner-dependent. Once cleared, PayKato queues the NGN payout for the next available Nigerian banking window. Weekends, public holidays, and bank cut-offs affect when the money actually lands.

Your first payout may take longer while partners complete final risk and compliance checks. Subsequent payouts settle on the standard cycle.

  • Cards: T+2 to T+3 clearance
  • Bank transfer: faster, partner-dependent
  • NGN landing: typically 1 banking day post-clearance
  • First payout: may take longer for partner checks

FX and what NGN amount actually lands

PayKato does not set FX rates. The licensed payout partner converts USD/EUR/GBP to NGN at the rate available at settlement. The dashboard shows an estimated NGN figure so you can plan; the final NGN is reconciled at the time of payout. Differences between estimate and actual are normal during periods of high FX movement.

Frequently asked

Which Nigerian banks are supported for NGN payout?
All major Nigerian commercial banks supported by our payout partners — GTBank, Access, Zenith, First Bank, UBA, FCMB, Stanbic IBTC, and others. Availability is confirmed when you add your settlement account.
Can I receive USD into a domiciliary account instead of NGN?
USD domiciliary settlement depends on merchant category, partner approval, and pilot availability. Many pilot merchants currently use NGN settlement. Contact support if a USD domiciliary payout is essential for your business.
Can I request payouts manually or are they automatic?
Payouts can be requested from the dashboard once funds are cleared and available. Some merchant categories may be placed on an automatic payout cycle during the pilot.
Are reserves held on Nigerian merchant accounts?
Reserves and rolling holds are standard in regulated payment processing and may apply to certain merchant categories. PayKato displays any reserve clearly on your settlements screen.
How much does PayKato cost?
PayKato's platform fee starts from 1.5% per successful transaction, with no monthly or setup fees. Processor, FX, payout, bank, and country-specific fees may apply on top, charged by the relevant partner. See the Pricing page for a sample breakdown.
Which processors and banks does PayKato use?
PayKato is built to integrate with licensed payment processors and banking partners. Specific processors and availability are confirmed during merchant onboarding based on country, merchant category, and partner approval.

Related

Get NGN payouts to your Nigerian bank

Create a PayKato account, add your settlement bank details, and start receiving local NGN payouts on cleared international payments.

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PayKato is built to integrate with licensed payment processors and banking partners. Specific processors and availability are confirmed during onboarding based on country, merchant category, and partner approval. PayKato is not a bank and does not hold customer funds.