FAQ

Do I need to upload real documents to use the sandbox environment?

No, real documents are not required in the sandbox environment.

Which currencies and countries are supported for pay-ins and payouts using the Fincra API?

You can find the list of supported countries for pay-ins and payouts using the Fincra API here. The list of supported currencies can be found here.

Are there any business types that Fincra does not issue accounts to?

Yes, certain business types are restricted. These include Ponzi schemes, fraudulent businesses, and others flagged by CBN policies. For more details, please refer to the attached comprehensive list of industries and their risk levels.

Can you provide a comprehensive list of countries and their risk levels?

Below is the comprehensive list of countries and their associated risk levels.

Do payment schemes have settlement timelines for transactions?

Yes, payment schemes have settlement timelines. You can find more information on settlement timelines here [link to details].

What are chargebacks?

Chargebacks occur when a payment is reversed due to a failed transaction or when a customer disputes a settled payment. This typically happens when a customer is charged but does not receive the expected product or service. More details on chargebacks can be found here.

Does Fincra have a pricing list?

Yes, Fincra offers a pricing list for all products. You can view the pricing list here [link to pricing list].

What is Two-Factor Authentication (2FA)?

Two-Factor Authentication (2FA) is an extra layer of security for your account. It requires you to provide two forms of identification before accessing your account—your password and a unique verification code. This code can be generated by an authentication app, sent via SMS, or delivered to your registered email address.

Why is Two-Factor Authentication important?

2FA is crucial for enhancing account security. By adding an extra step in the login process, it significantly reduces the risk of unauthorized access, helps protect sensitive information, and prevents potential fraud or data breaches.

How do I set up Two-Factor Authentication for my merchant account?

To set up 2FA for your merchant account, follow these steps:

Log in to your account via the Merchant Portal.
Go to the "Security" or "Account Settings" section.
Locate the Two-Factor Authentication (2FA) settings.
Choose your preferred 2FA method: SMS codes, email codes, or an authenticator app.
Follow the on-screen instructions to complete the setup.

What are the available Two-Factor Authentication (2FA) methods?

We offer multiple 2FA options for flexibility. You can choose to use a third-party authenticator app (such as Google Authenticator or Authy), SMS-based codes, or email-based codes.

What happens if I lose access to my 2FA method (e.g., phone or authenticator app)?

If you lose access to your 2FA method, contact our support team immediately. They will guide you through the recovery process to help you regain access to your merchant account.

What if I encounter issues during the 2FA setup process?

If you experience any issues or need help setting up 2FA, please contact our support team. We’re here to assist you and resolve any concerns you may have.

Is Two-Factor Authentication mandatory for all merchant accounts?

A: Yes, with our latest update, 2FA is mandatory for all merchant accounts in the Merchant Portal. This ensures the highest level of security for your account and sensitive data.