How does a Tenant (Business Owner) cash-out repayment made by borrowers?
Created by: OLAMIDE D. GBADEBO
Modified on: Wed, 20 May, 2020 at 9:15 AM
All Repayments taken from a borrower’s Bank Account by Paystack are updated real-time and simultaneously on Aposhashamura’s account with Paystack, Aposhashamura backend system and dashboard of the Tenant that grants the loan. Paystack then prepares the receivables for settlement, using the ‘split payment’ feature on Paystack into the Tenant’s designated Bank Account & Aposhashamura designated bank account accordingly; depending on time the borrower’s bank account is charged.
- All collections completed during the weekday is settled into Aposhashamura’s designated bank account the next weekday
- All collections completed on weekends (i.e. Friday-Sunday) is settled into Aposhashamura’s designated bank account on Mondays
- All collections completed on a public holiday is settled into Aposhashamura’s designated bank account on the next workday
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