Woven Finance
Woven Finance simplifies business transactions by offering digital payment solutions, including virtual accounts, instant settlements, and fraud reduction tools.
Company Services
Woven Finance simplifies business transactions by making digital payments and reconciliations easy. Their services include providing virtual accounts for collecting payments, eliminating payment, disbursement, reconciliation, and settlement hassles with a single technology. They offer instant settlement, ensuring real-time payments to customer bank accounts. Woven Finance also reduces fraud likelihood by making account numbers easily traceable. Their platform supports web and mobile integration, allowing businesses to accept payments both online and in-person.
Products Offered by Woven Finance
Woven Finance offers a range of products, including virtual accounts, direct debits, and brokerage infrastructure APIs. Virtual accounts help businesses receive payments within minutes, while direct debits facilitate automatic billing. Their brokerage infrastructure APIs enable customers to invest in the Nigerian Capital Market. Additionally, they offer a Developer Portal with documentation to assist developers in building custom payment experiences using the Woven API.
Payment Solutions and Fees
Woven Finance provides several payment solutions, supporting businesses with seamless digital transactions. The company charges a 0.5% fee on the value of each transaction for collections and direct debits, with a price floor of ₦50 - ₦100 for collections and ₦100 for direct debits. They also impose a standard fee of ₦10 for payouts and offer transaction volume discounts for merchants processing large volumes. Woven Finance ensures automatic settlement to the merchant's bank account once the customer initiates a transfer.
Integration and Developer Support
Woven Finance supports both web and mobile integration to assist businesses in accepting payments online or in-person. They offer a comprehensive Developer Portal with detailed documentation to aid developers in building custom payment experiences using the Woven API. This includes instructions for tokenizing bank accounts to enable seamless payments, ensuring a smooth and secure transaction process for businesses and their customers.
Brokerage Infrastructure APIs
Woven Finance offers Brokerage Infrastructure APIs designed to assist customers in onboarding to invest in the Nigerian Capital Market. These APIs provide necessary infrastructure for brokers to facilitate the investment process. This service aims to streamline the investment journey, making it easier for customers to participate in the market using Woven Finance's reliable and efficient platform.