1. Payment Methods and Authorization
Payments are processed through approved providers (e.g., Paystack). By paying, you authorize Swivel and its payment partners to charge your selected payment method for the transaction amount, fees, and applicable taxes.
Some payment methods may require additional verification or authorization. We may place temporary authorization holds to confirm your payment method.
2. The Escrow Process: How It Works
Our system ensures money is exchanged only when both parties are satisfied.
- Buyer Pays Securely. Buyer pays the exact listed price in-app; funds are held in escrow.
- Seller Delivers the Item. Seller is notified and may deliver the item or service.
- Buyer Confirms Receipt. Buyer confirms receipt to release funds.
- Seller Gets Paid. Funds are released to the seller minus Swivel's service fee.
If the buyer does not confirm receipt within the window shown in the app, Swivel may release funds according to the escrow rules displayed at checkout.
3. Swivel's Service Fee (Seller-Paid)
Our standard service fee is 4% of the final sale price. The fee is shown before listing and automatically deducted from payouts.
We may update fees in the future with notice on the Platform. Any changes apply to future transactions only.
4. Aggregated Batch Payouts to Sellers
To protect both buyers and sellers, Swivel uses a 24-hour batch-settlement payout model:
- Aggregated Batch Settlement: Confirmed earnings are held and aggregated daily.
- MoMo and Transfer Fee Reduction: Batch transfers reduce transaction fees for sellers.
- 24-Hour Settlement Cycle: Payouts are sent within 24 hours of buyer confirmation.
- Transparent Tracking: Sellers can view payout status in the order dashboard.
We may require updated payout details or identity verification to comply with financial regulations.
5. Currency, Taxes, and Fees
Transactions are processed in the currency displayed at checkout. Sellers are responsible for any taxes or duties required by law. Additional third-party fees (e.g., payment provider or bank fees) may apply.
If a currency conversion is required, the rate is determined by the payment provider or your bank and may include a conversion fee.
6. Disputes, Refunds, and Chargebacks
If an item is not as described or never arrives, do not confirm receipt. Initiate a dispute to freeze funds and start mediation. Refunds resolved in favor of the buyer will deduct the 4% non-refundable fee. Chargeback abuse may result in account suspension.
Refunds are processed back to the original payment method where possible. Processing times depend on the payment provider.
7. Failed Payouts and Negative Balances
If a payout fails due to incorrect details or account issues, we will retry or request updated payout information. If a refund or chargeback results in a negative balance, future payouts may be reduced to recover the amount.
You are responsible for keeping payout details current. Repeated payout failures may result in delayed settlements.
Last Updated
Last updated: May 25, 2026