Billing

How Vaendora collects fees, settles your payments, and what happens when a subscription payment cannot be collected.

Two Types of Fees

There are two separate fees on Vaendora, and it is important to understand the difference:

Transaction Fee

A percentage deducted from each customer payment you receive through Vaendora. 1.5% per transaction, capped at ₦2,000. This is charged on every successful payment your customers make.

Subscription Fee

A recurring monthly or annual fee for your Core or Growth plan. Collected automatically from your settlement bank account. Gateway merchants pay no subscription fee.

Transaction Fee Structure

Vaendora charges a simple, transparent fee on each successful payment your customers make:

Fee TypeRateCapDescription
Banking Partner Fee1.0%₦1,500Instant payout processing
Vaendora Fee0.5%₦500Platform service fee
Total1.5%₦2,000Maximum total fee per transaction
Fee Cap Advantage
The ₦2,000 cap means larger transactions cost less as a percentage. A ₦500,000 transaction has an effective fee rate of just 0.4%.

Fee Examples

₦10,000 Payment

1.5% rate applies

-₦150

You receive: ₦9,850

₦50,000 Payment

1.5% rate applies

-₦750

You receive: ₦49,250

₦200,000 Payment

Cap applies (not ₦3,000)

-₦2,000

You receive: ₦198,000

₦1,000,000 Payment

Cap applies (0.2% effective rate)

-₦2,000

You receive: ₦998,000

Subscription Fee Collection

If you are on the Core or Growth plan, Vaendora collects your subscription fee automatically from your settlement bank account using the billing mandate you authorised when you upgraded. You do not need to make any manual payments each month.

Monthly

Core: ₦5,000/month. Growth: ₦18,000/month. Charged on the same date each month.

Annual

Core: ₦50,000/year. Growth: ₦180,000/year. Charged once and valid for 12 months.

Automatic

Collected from your settlement account via a pre-authorised mandate. No manual action needed.

Gateway Plan
If you are on the Gateway plan, there is no subscription fee. You only pay the 1.5% transaction fee on payments you receive.

When a Subscription Payment Fails

If Vaendora cannot collect your subscription fee — for example, because your settlement account does not have sufficient funds — here is what happens:

Step 1 — Payment marked as failed

Your account is placed on a short grace period. You keep full access to all your plan features while retries are in progress. A warning appears on your Billing page, and you receive an email notification.

Step 2 — Automatic retries

Vaendora automatically retries the collection several times over the following hours. You will receive an email notification for each failed attempt. Your access remains intact throughout this period.

Step 3 — Downgrade if all retries fail

If all retry attempts are exhausted and payment still cannot be collected, your subscription ends and your account is downgraded to the Gateway plan. You will receive a final email confirming this. Access to Core or Growth features is suspended until you resubscribe.

What to do if payment fails
Check your Billing page for the warning banner. Ensure your settlement bank account has enough funds to cover your subscription fee. Once your account is funded, Vaendora will collect the payment automatically on the next retry. You do not need to trigger a retry manually — contact support if you need assistance.

The Billing Page Warning

When a payment attempt fails, a warning appears at the top of your Settings → Billing page that says your subscription payment could not be collected. The warning disappears automatically once payment is successfully collected. If your account is downgraded to Gateway, the warning is replaced by the standard plan selection screen.

Transaction Settlements

When your customers pay you through Vaendora, here is how funds flow:

Instant Settlement

Funds arrive in your bank account immediately after payment confirmation

Automatic Deduction

Transaction fees are deducted before the net amount is settled

Direct to Bank

Settled directly to your registered settlement bank account

No Minimum

No minimum settlement amount — every payment settles immediately

How Settlement Works

  1. Customer pays — transfer to your virtual account
  2. Verification — payment is automatically verified
  3. Fee deduction — 1.5% transaction fee is deducted (capped at ₦2,000)
  4. Instant settlement — net amount sent directly to your bank account

Settlement Example

Customer Pays₦50,000.00
Banking Partner Fee (1%)-₦500.00
Vaendora Fee (0.5%)-₦250.00
Settled to Your Bank₦49,250.00

Viewing Your Transactions

Track your settlements and transactions in the dashboard:

  1. Go to Payments → Transactions
  2. View all incoming payments and their status
  3. Click any transaction to see full details
  4. Use Export to download a CSV for accounting

What the Export Includes

  • Transaction reference
  • Customer name and email
  • Gross amount received
  • Fee breakdown (banking fee + Vaendora fee)
  • Net amount settled
  • Status (verified, failed, reversed)
  • Date and time

Tax and Accounting

  • Fees include VAT where applicable under Nigerian tax law
  • Your transaction export can be used for bookkeeping and audit purposes
  • Consult your accountant for your specific tax obligations