Payment Methods

Payouts

Version: 1.2

Version: 1.2

Effective Date: 2026-06-11

1. Purpose

This Payouts Policy ("Policy") forms part of the Merchant Agreement.

This Policy governs all payout services provided through the Services, including payments to recipients, suppliers, employees, Customers, verified Merchant bank accounts and any other beneficiary approved by Kwik.

This Policy should be read together with:

2. Scope

This Policy applies to all payout transactions processed through the Services, including:

supplier payments;
customer refunds;
salary and payroll payments;
own account transfers;
beneficiary payments;
recipient payments;
API initiated payouts;
batch payouts;
scheduled payouts; and
any future payout functionality made available by Kwik.

3. Recipient Bank Accounts Must Be South African

Unless otherwise agreed in writing by Kwik, all payouts must be made to a bank account held with a bank licensed and operating within the Republic of South Africa, in accordance with Section 11 of the Merchant Agreement.

Kwik will not process a payout to a bank account held outside the Republic of South Africa.

4. Availability

Payouts are available only:

where enabled for the Merchant;
where sufficient cleared funds are available;
where required verification has been completed;
where permitted by Applicable Law;
where supported by the participating financial institution; and
where all compliance checks have been successfully completed.

Kwik does not guarantee uninterrupted availability of payout services.

5. Merchant Responsibilities

The Merchant is solely responsible for:

verifying recipient information;
verifying bank account details;
ensuring payment amounts are correct;
ensuring payment references are accurate;
ensuring beneficiaries are authorised to receive payments;
maintaining appropriate internal approval controls;
protecting payout credentials;
reviewing payout reports; and
complying with Applicable Law.

Kwik is not responsible for errors caused by incorrect information supplied by the Merchant.

6. Recipient Verification

The Merchant shall ensure that every recipient has been accurately identified before initiating a payout.

Kwik may require verification of:

recipient identity;
banking details;
account ownership;
business information;
supporting documentation; and
any additional information reasonably required for fraud prevention or regulatory compliance.

Completion of verification by Kwik does not relieve the Merchant of its responsibility to verify recipient information.

7. Authorisation

Every payout request must be properly authorised by the Merchant.

Kwik may require:

Multi-Factor Authentication;
approval workflows;
additional verification;
one-time passwords;
API authentication;
webhook validation;
manual review; or
any other security measure reasonably required.

8. Compliance Screening

Kwik may screen:

recipients;
bank accounts;
transactions;
payment references;
beneficial owners; and
supporting information

against:

sanctions lists;
fraud databases;
politically exposed person databases;
anti-money laundering controls;
internal risk systems; and
other compliance systems.

Kwik may refuse, delay or suspend any payout while compliance checks are being completed.

9. Fraud Prevention

Kwik may suspend, delay, reject or cancel a payout where reasonably necessary to:

prevent fraud;
investigate suspicious activity;
protect Customers;
protect financial institutions;
comply with Applicable Law;
comply with banking requirements;
comply with payment partner requirements; or
protect the integrity of the Services.

Fraud prevention measures may be applied before or after a payout request is submitted.

10. Settlement

Payout processing times depend upon:

banking operating hours;
weekends and public holidays;
payment method;
fraud screening;
sanctions screening;
regulatory requirements;
participating financial institutions; and
operational processing windows.

Estimated processing times published by Kwik are indicative only.

11. Returned or Rejected Payments

A payout may be rejected or returned due to:

incorrect bank account details;
closed accounts;
frozen accounts;
invalid account numbers;
banking restrictions;
compliance requirements;
insufficient funds;
fraud controls; or
operational failures.

Returned payments may be subject to additional fees in accordance with the Fees & Pricing.

12. Duplicate Payments

The Merchant is responsible for preventing duplicate payout requests.

Kwik may implement duplicate detection controls but does not guarantee that duplicate payouts will always be prevented.

13. Payment Recalls

Where supported by the applicable financial institution, Kwik may attempt to recall or reverse a payout.

Kwik does not guarantee that a recall request will be successful.

The Merchant remains liable for any payout that cannot be recovered.

14. Customer Refunds

Where payouts are used to refund Customers:

refunds remain subject to the Chargeback & Dispute Policy;
refunds remain subject to Applicable Law;
refunds may require additional verification; and
Kwik may refuse refunds where fraud or compliance concerns exist.

15. Insufficient Funds

The Merchant must maintain sufficient cleared funds to support all payout requests.

Kwik may reject payout requests where:

insufficient funds are available;
funds remain subject to reserve requirements;
funds are held pending investigation;
settlements have not completed; or
legal restrictions prevent release of funds.

16. Third-Party Rules

Payouts remain subject to:

participating financial institution rules;
payment partner requirements;
Applicable Law;
regulatory requirements;
sanctions requirements;
anti-money laundering obligations; and
operational requirements reasonably imposed by Kwik.

17. Suspension

Kwik may immediately suspend payout services where:

fraud is suspected;
suspicious activity is detected;
sanctions screening identifies elevated risk;
regulatory requirements require suspension;
insufficient information has been provided;
continued processing presents unacceptable financial, operational or regulatory risk; or
the Merchant breaches the Merchant Agreement or this Policy.

18. Limitation of Liability

Without limiting the Merchant Agreement, Kwik shall not be liable for:

incorrect recipient information supplied by the Merchant;
incorrect account numbers;
banking delays;
rejected payments;
returned payments;
beneficiary disputes;
recipient fraud;
payment recalls that are unsuccessful;
bank outages;
regulatory holds;
sanctions-related delays; or
transaction failures outside Kwik's reasonable control.

19. Recovery Rights

Where Kwik incurs any loss, liability, cost or expense arising from a payout initiated by the Merchant, Kwik may recover such amounts in accordance with the Merchant Agreement and the Chargeback & Dispute Policy.

Recovery may include:

deduction from Merchant balances;
deduction from future settlements;
reserve funds;
invoicing the Merchant;
contractual set-off; or
any other lawful recovery method.

20. Changes

Kwik may amend this Policy from time to time to reflect:

banking rule changes;
regulatory developments;
fraud trends;
operational improvements;
technological developments;
security enhancements; or
industry best practices.

The latest version of this Policy will always be available at:

/legal/payment-methods/payouts

Continued use of Payouts after an updated version becomes effective constitutes acceptance of the revised Policy where permitted by Applicable Law.

Payat

Version: 1.2

Apple Pay

Version: 1.2