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Sunday, October 2, 2022

FAQ – Payments

How much does it cost to sell on Toptoria?

Our goal is to create a sustainable partnership with our sellers. We do not have listing fees or limits on our platform. Sellers can list as many digital products as they want at no cost. We only take commissions on sales sellers make. Our goal is to reward sellers for creating amazing products that meets buyers needs.

Revenue Share Overview:

  • You’ll earn 70% of all revenue from buyers.
  • Please Note: You might come across few deductions which might include bank transfer and currency conversion fees. Refer to your respective bank to understand transaction, currency conversions fees, and taxation laws for your country.

Is there a minimum payment threshold?

Yes, the minimum threshold is equal or greater than N5000(Nigerian Naira).

What if my earning is less than the minimum threshold?

Your payout can be claimed once the cumulative unclaimed earnings are equal or greater than N5000(Nigerian Naira)

What is the Payment Cycle?

The payment cycle is 1st to the 30th or 31st of every month.

What payment options are available?

We currently have direct deposit. Other payment options will be made available soon.

When are payments deposited?

Payments are sent out on a net 30 day basis from the end of the month.

Once you request a payout on or before the 5th of every month, the payments are deposited within 10-20 days after the end of the payment cycle, minus refunds.

 

Note: You may be charged a payment processing and exchange rate fee depending on your country’s currency

What does "payout" mean?

Payouts are the sales that you made from your digital products on Toptoria. You can log in to your Seller Dashboard, to view and claim these payouts.

Can my payment details be changed during payment processing time?

No, payment processing starts on the 1st of every month, any update or changes made during the processing time will reflect in the next month payment cycle.

What is the frequency of Payment?

Currently, the frequency of payment is monthly.

How do I setup payments?

You have to provide your payment account details to be able to raise payouts.

Go to seller’s dashboard>settings>payment add your payment account details.

Fill out the payment account form with accurate payment details. Please ensure that you provide us with your full name and full address, and that your government ID supports these details.

You will be required to upload a void cheque to validate the bank details and your government issued ID to validate your identity.

What about taxes?

We do not provide tax advice. Please contact a tax consultant for more information about the potential tax implications of selling digital products on Toptoria.

We do not withhold taxes from your earnings.