Once you have access to your dashboard and your Korapay balance is funded, you can easily make payments to your customers in 5 quick steps:
Login to your dashboard
Navigate to the Balance page
3. Click on withdraw button below the "Add Funds" icon on the right corner of the page - Click on "To Bank Account"
4. Input the amount you want to payout and click on proceed
5. Input the account number and select the bank. Once this is done, the recipient is automatically displayed. Be sure to confirm the recipient's name before selecting the 'Withdraw' button. You can also make withdrawals to your settlement account "i.e the account number you registered with" by clicking on "Or, send to your settlement account"
6. Once you click on the withdraw button, you would be required to enter a one-time PIN sent to your email to authorize the withdrawal. Once this is done successfully, the payout is immediately initiated.
Payout limits
There are the minimum and maximum limits set on each payout. This limit is the same on the Payout channel.
Payout Channel | Minimum Amount | Maximum Amount |
Payout via Dashboard/API | N 100.00 | N10,000,000.00 |
This means that if you're transferring funds from both the dashboard and via API, you cannot transfer anything below N100 or more than N10,000,000 per transfer.
Supported Currencies and Banks
Currently, we support only Naira transfers to any Nigerian Bank account. That is, merchants can only payout their customers in Naira to any Nigerian Bank account of their choice.