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Kuda POS: Transaction Fees

Nosa O avatar
Written by Nosa O
Updated over a week ago

When you’re running a business, every naira counts. That’s why we want to be completely transparent about our transaction fees. Here’s a clear breakdown by payment method, with real-life examples to show you exactly how it works.

Pay With Transfer

The fee: ₦0 (That’s right—absolutely free!)

No matter the amount, you keep every kobo when customers pay via transfer.

Examples:

  • Small transfer: Customer sends ₦1,000

    • Fee: ₦0

    • You pay: ₦0

  • Medium transfer: Customer sends ₦50,000

    • Fee: ₦0

    • You pay: ₦0

  • Large transfer: Customer sends ₦1,000,000

    • Fee: ₦0

    • You pay: ₦0

Pay With Kuda

The fee: 0.5% of the transaction amount, capped at ₦500.

Examples:

  • Small purchase: ₦1,000

    • Fee: 0.5% of ₦1,000 = ₦5

    • You pay: ₦5

  • Medium purchase: ₦50,000

    • Fee: 0.5% of ₦50,000 = ₦250

    • You pay: ₦250

  • Large purchase: ₦200,000

    • Fee: 0.5% of ₦200,000 = ₦1,000, but capped at ₦500

    • You pay: ₦500

Pay With USSD

The fee: 1.5% of the transaction amount, capped at ₦2,400.

Examples:

  • Small purchase: ₦500

    • Fee: 1.5% of ₦500 = ₦7.50

    • You pay: ₦7.50

  • Medium purchase: ₦20,000

    • Fee: 1.5% of ₦20,000 = ₦300

    • You pay: ₦300

  • Large purchase: ₦200,000

    • Fee: 1.5% of ₦200,000 = ₦3,000, but capped at ₦2,400

    • You pay: ₦2,400

Pay With Card

The fee: 0.5% of the transaction amount, capped at ₦100.

Examples:

  • Small purchase: ₦300

    • Fee: 0.5% of ₦300 = ₦1.50

    • You pay: ₦1.50

  • Medium purchase: ₦15,000

    • Fee: 0.5% of ₦15,000 = ₦75

    • You pay: ₦75

  • Large purchase: ₦300,000

    • Fee: 0.5% of ₦300,000 = ₦1,500, but capped at ₦100

    • You pay: ₦100

Key Things to Remember

  1. Transfers are always free: Receiving payments via transfer costs you nothing, no matter the amount.

  2. Caps protect you: No matter how large the transaction, you’ll never pay more than the capped amount for each payment method.

  3. Pay With Transfer and Pay With Kuda are most cost-effective: Encourage customers to use these options for lower fees.

  4. Fees are automatic: All fees are deducted automatically—you don’t have to do any calculations or make separate payments.

  5. We’re transparent: If you ever have questions about fees or anything else, just ask!

By understanding these fees, you can make smarter decisions about which payment methods to encourage and how to price your goods or services. We’re here to support your business—reach out any time for help or clarification!

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