Frequently Asked Questions

A standard 3.0% withdrawal processing fee applies to all payout disbursements from your virtual business wallet to your verified Ghanaian bank account.

KolectPay operates on a strict T+1 settlement schedule. All funds collected on business day T are reconciled and automatically disbursed to your verified Ghanaian settlement bank account on the next business day (T+1) through our regulated PSP partner, IT Consortium Ltd.

No. KolectPay operates as a non-custodial software technology platform. We do not hold, store, or custody merchant or customer funds. All payments, auto-debits, and wallet balances are collected, securely held, and disbursed by our regulated payment service provider (PSP) partner, IT Consortium Ltd, in full compliance with Bank of Ghana regulations.

Before any recurring debit can execute, the customer receives an official Mobile Money USSD prompt or OTP on their phone. They review the debit terms and approve the mandate with their private PIN. Once authorized, KolectPay schedules and debits collections on agreed due dates automatically.

KolectPay currently supports MTN Mobile Money, Telecel Cash, and direct bank debit via GhIPSS clearing systems, covering all active mobile wallet and commercial bank accounts in Ghana.

The system logs a pending status and executes smart retry cycles (such as on salary paydays). The customer also receives automated SMS & WhatsApp payment reminders containing a secure, instant MoMo payment link.

Yes. From the Collection detail screen on your dashboard or mobile app, you can pause, resume, or cancel active collections at any time. Pausing temporarily halts scheduled debits without voiding the underlying mandate.

In compliance with Bank of Ghana KYC directives, the Payment Systems and Services Act (Act 987), and the National Identity Register regulations, business owners must verify their identity using a valid Ghana Card checked in real time against the National Identification Authority (NIA) database.

Yes. KolectPay is fully registered and compliant with the Data Protection Act, 2012 (Act 843) under the regulatory oversight of the Ghana Data Protection Commission (DPC). All customer and financial data is encrypted at rest (AES-256 GCM) and in transit (TLS 1.3). You have the right to access, rectify, or deactivate your data at any time.

You can reach our Data Protection Officer at privacy@kolectpay.com. Under Section 77 of Act 843, you also have the statutory right to escalate any unresolved data protection concerns directly to the Data Protection Commission of Ghana at complaints@dataprotection.org.gh.

KolectPay enforces Two-Factor Authentication (TOTP via Google Authenticator), biometric login on mobile, multi-tenant database isolation, rate-limiting, and account lockout protection against credential stuffing attacks.

SMS credits allow you to broadcast customized payment reminders and receipts under your registered SMS Sender ID. Credits can be purchased instantly via Mobile Money inside the SMS Campaign screen and remain valid for 12 months.