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Settlements
A settlement refers to the process of transferring funds from a lipila into a merchant's bank account.
Automated Settlements 1.1.0
Lipila provides automated settlements for merchants, allowing them to receive payments on a regular basis without the need for manual intervention.
Automated settlements refer to the automatic transfer of funds from a lipila into to a merchant's bank account according to predefined rules or schedules.
If the charge currency differs from your settlement currency, Lipila converts the charge to your settlement currency, with multiple options for presenting, converting, and charging customers in different currencies.
Charges for Settlement are shown below :
| Settlement Amount (ZMW) | Charge (ZMW) |
|---|---|
| K0.01 – K150.00 | K5.00 |
| K151.00 – K300.00 | K7.00 |
| K301.00 – K500.00 | K14.00 |
| K501.00 – K1,000.00 | K21.00 |
| K1,001.00 – K3,000.00 | K30.00 |
| K3,001.00 – K5,000.00 | K42.00 |
| K5,001.00 – K10,000.00 | K70.00 |
| K10,000.00 – K499,999.00 | K100.00 |
| K500,000.00 – K1,500,000.00 | K150.00 |
| Above K1,500,000.00 | K200.00 |