Settlement System

Settlement is the process of transferring funds from Credo to your registered bank account after a successful transaction. This guide covers standard settlements, split settlements for marketplaces, and paused settlements for escrow scenarios.

How settlement works

When a customer pays you through Credo, the funds don't arrive in your bank account immediately. Here's the flow:

Settlement calculation

The amount you receive depends on who bears the transaction fee:

Transaction Amount:     ₦10,000.00
Transaction Fee:        ₦200.00 (paid by customer)
Settlement Amount:      ₦10,000.00

Transaction Amount:     ₦10,000.00
Transaction Fee:          ₦200.00 (deducted)
Settlement Amount:       ₦9,800.00

Set the fee bearer using the bearer field when initializing transactions:

• 0 - Customer bears the fee (default)
• 1 - Merchant bears the fee

Standard settlement

By default, all successful transactions are settled automatically to your default registered bank account. No configuration needed.

Viewing settlements

Track your settlements in the dashboard:

1. Go to Settlements in your Credo dashboard
2. View pending and completed settlements
3. Download settlement reports for reconciliation

Each settlement batch includes:

• Settlement reference number
• Total amount settled
• Individual transaction references
• Settlement date and time

Split settlement