Selling On Konga MarketPlace.
One of the most frequent questions I get from people that wants to sign up and sell on Konga is how their payment process works. To help you understand the Konga payment process, I have shared some useful and simple step by step guidelines:
- When an order is updated to ‘Shipped’, the value of the item less commission is updated to ‘Balance Pending’. This order value remains here until the order is updated to delivered, cancelled or placed on arbitration.
- When an order is updated to ‘Delivered’, the value of the item less commission moves from Balance Pending to ‘Escrow’ (Balance Payable). This value remains in Escrow until the return policy elapses( return policy can either be 0 days or 7 days).
- Once your return policy elapses, the value of the item less commission moves from your escrow to your Konga Wallet. If you do not offer a return policy, funds are placed in escrow for 72 hours then moved to your wallet after 72 hours.
- Fundscredited into your wallet remain there until a payout is initiated by you.
- All Payout requests are processed within 72 hours.
MUST READ: How To Increase Your Sales On Konga.