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PawaPay settles the funds in your wallets to your bank accounts on a schedule you choose. You set this up once on the Settlements page under Finances, and you can change it at any time.
You need the Settlements or Administrator role to set up and view settlements. See User roles.

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Before you start

Have these details ready for each bank account you want to add:
  • Account holder name
  • Account number or IBAN
  • Bank name and SWIFT/BIC code
  • Branch name, branch address and, if it has one, branch sort code
  • Country and currency of the account
You can settle to two kinds of bank account:

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Set up your settlements

Setup has three steps, then a summary where you can change any step before you confirm.
1

Choose where to settle

Add a bank account, then select the wallets that settle to it under Your wallets. Select Add to save the account.
You can link some or all of your wallets to a cross-border account. Link any other wallet to a local account in its own country. Once you have a cross-border account, Country and Currency only offer the countries and currencies of your unlinked wallets.
You can add one cross-border account. All your cross-border settlements are paid in its currency.
A local account in XOF, XAF or CDF can also take wallets in other currencies:
2

Choose how often

Choose Weekly, Bi-weekly or Monthly. Settlements always start on a Monday.
3

Set minimum wallet balances

A minimum wallet balance is the amount we always leave in a wallet. We never settle it. We only settle the balance above it. For example, if a wallet has a minimum wallet balance of 500,000 XOF and a balance of 1,000,000 XOF, 500,000 XOF can be settled. Each wallet can have its own minimum.Select I need to set minimum balances for my wallets to enter them. If you leave it unticked, every minimum is 0 and we settle the full balance.
4

Review and confirm

Check the summary. To change a section, select its edit icon. When everything is correct, select Confirm your preferences. Your first settlement starts on the next Monday.

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When we settle

Settlements start on Mondays, at the frequency you chose. When a settlement starts, we settle the part of each wallet’s balance that is above its minimum wallet balance. Funds that arrive after that are included in your next settlement. The Settlements tab shows the date of your upcoming settlement. How long the funds take to reach your bank depends on the country and the account.

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How much we settle

We never settle a wallet’s minimum wallet balance. When a settlement starts, only the balance above it can be settled. For example, if a wallet has a minimum wallet balance of 500,000 XOF and a balance of 1,000,000 XOF, 500,000 XOF can be settled. The total amount being settled must also reach PawaPay’s minimum settlement amount:
  • Local account: the total amount settled to the account must be worth at least 50 USD.
  • Cross-border account: the total amount settled to the account must be worth at least 100 USD.
A local XOF, XAF or CDF account that takes more than one wallet, or a wallet in another currency, counts as a cross-border account here. If a wallet doesn’t qualify, we skip it for that settlement and its funds stay in the wallet. A wallet is skipped when:
  • its balance is 0
  • its balance is not above its minimum wallet balance
  • the total amount being settled is below PawaPay’s minimum settlement amount
  • we have temporarily paused settlements in its country

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Track your settlements

The Settlements tab lists your previous settlements and shows the date of your upcoming one. Each settlement has one of these statuses:

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In progress

An In progress settlement shows each wallet included, the amount taken from it and the bank account it goes to. Wallets that were skipped are listed too.
If you settle to more than one bank account, you see how much from each wallet goes to each account, with the bank name and country.
Exchange rates for cross-border settlements are shown once the settlement is complete. To see the rates we used over the past four weeks, select Historical FX rates.
To see why a wallet was skipped, select its Skipped status.
Our Treasury team may leave comments on a settlement. You’ll find them in the top-right corner of the settlement.

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Completed

A completed cross-border settlement shows the amount settled, the exchange rate and the destination bank account. Download the proof of payment (PoP) with PoP.
A completed local settlement shows the amount settled, the destination bank account and the proof of payment.
If your bank charged a fee, it is deducted from the amount settled. If you settle to more than one bank account, the fee is shown in the Bank fee column. If you settle to one bank account, the amount next to the date is the total amount settled. When your bank charged a fee, select Amount Breakdown under that amount to see the amount, the bank charges and the total amount settled.

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Cancelled

If we cancel a settlement, the funds go back to your wallets straight away. Our Treasury team may leave a comment explaining why.

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Skipped

A settlement is Skipped when none of your wallets qualified. See How much we settle for the reasons.

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Change your preferences

You can change your preferences at any time on the Configuration tab. Changes apply from the next settlement.

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Bank accounts

To update a bank account’s details, or link more wallets to it, select its edit icon. You can’t change the Country or Currency of an existing account, or unlink a wallet that already settles to an account.

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Frequency

To change how often we settle, select the edit icon next to How often do you want to be settled?, choose Weekly, Bi-weekly or Monthly, then select Done.

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Minimum wallet balances

To change how much we leave in a wallet, select the edit icon next to Minimum wallet balances, enter the new amount for each wallet you want to change, then select Done. We never settle a wallet’s minimum wallet balance, only the balance above it. To settle the full balance of every wallet, untick I need to set minimum balances for my wallets.

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New countries

When you start processing payments in a new country, its wallet is not settled until you link it to a bank account. The Configuration tab shows which countries we can’t settle yet. Select the link in the message to fix it.
You can link the new wallet to your cross-border account, or add a local account for it.