Overview
This Monetary Policy outlines how monetary transactions are managed on the Payoup platform, operated by Enexfi LTD (registered in the United Kingdom). Payoup acts as the Merchant of Record (billing entity) on all transactions; payment processing and settlement services are provided by licensed third-party payment processors. This policy applies to payments received through the platform and supplier payments made to service providers.
All payment processing is provided by licensed third-party payment processors, and supplier payments are processed through a licensed Payment Service Provider. Payoup does not hold, pool, or transmit funds on behalf of third parties. This policy should be read in conjunction with our Platform Service Provider Agreement, Terms of Service, and Payment & Refund Policy.
Supported Currencies
Payoup supports transactions in multiple currencies to facilitate global commerce between freelancers and their clients.
Primary Settlement Currencies
The following currencies are available as primary settlement currencies for supplier payments and transaction amounts: USD (United States Dollar), EUR (Euro), GBP (British Pound Sterling), and TRY (Turkish Lira).
Accepted Payment Currencies
Clients may make payments in over 135 currencies supported by our payment processing partners. These payments are automatically converted to the freelancer's selected settlement currency at the prevailing exchange rate at the time of transaction.
Currency Selection
Users select their preferred settlement currency during account setup. Changes to the settlement currency may be requested through account settings and are subject to review. A currency conversion fee may apply when changing settlement currencies for pending supplier payment amounts.
Settlement & Fund Release
The availability of funds on the Payoup platform is determined by the settlement schedule of our licensed third-party payment processing partners. Payoup does not apply any additional holding period beyond the processor's settlement timeline.
Settlement Period
Funds are held during the payment processor's settlement schedule (e.g. T+3, T+7). This period is determined solely by the processor's rules. Payoup does not apply any additional hold and does not hold funds itself. The Supplier Price payable to the supplier is calculated on the basis of the selling price the supplier sets on the platform, taking into account Payoup's applicable resale margin and the deductions applied under the relevant commercial terms. The exact Supplier Price is shown transparently to the supplier in the dashboard. The Supplier Price represents the commercial amount payable by Payoup to the supplier for the underlying product or service. It is not customer funds held by Payoup on behalf of the supplier.
Release Process
Once the payment processor completes settlement, the applicable supplier payment amount is determined and the service provider is notified. Payoup instructs the licensed Payment Service Provider to pay the supplier amount to the service provider's verified bank account. Depending on account settings, this supplier payment may occur automatically or be initiated upon the service provider's request.
Factors That May Extend the Settlement
The settlement period may be extended by the payment processor in the following cases: an active dispute or chargeback has been raised, the account is flagged for compliance review by the processor, or a reserve requirement has been applied by the processor to the account.
Transaction Limits
Payoup enforces transaction limits to comply with regulatory requirements and ensure platform security.
Minimum Transaction Amount
₺100 TRY / $5.00 USD / €5.00 EUR / £5.00 GBP. Transactions below this threshold cannot be processed.
Maximum Transaction Amount
₺50.000 TRY / $5,000.00 USD / €5,000.00 EUR / £5,000.00 GBP. Transactions above this limit cannot be processed on the standard plan. Verified business accounts may request higher limits subject to enhanced due diligence.
Daily Limits
Standard accounts: ₺25.000 TRY / $5,000.00 USD / €5,000.00 EUR / £5,000.00 GBP daily aggregate. Premium accounts: ₺250.000 TRY / $25,000.00 USD / €25,000.00 EUR / £25,000.00 GBP daily aggregate. Business accounts: Custom limits upon approval.
Monthly Limits
Standard accounts: $100,000 USD monthly aggregate. Verified accounts: $250,000 USD monthly aggregate. Higher monthly limits are available for approved business accounts.
All limits are subject to change based on regulatory requirements. Users approaching their limits will be notified via email and in-platform notifications.
Supplier Payment Policy
Supplier payments made to service providers for products and services sold by Payoup as principal seller are governed by the following rules.
Payment Destination
Supplier payments are exclusively sent to a bank account registered in the verified service provider's own name. Third-party bank accounts are not permitted. The account holder name must match the identity verified during the KYC process.
Available Payment Methods
Supplier payments are made via bank transfer (SWIFT/SEPA) or local bank transfer (where available) through our licensed Payment Service Providers. Available methods vary by country and currency.
Payment Schedule
Supplier payment requests can be initiated at any time once the applicable amount is calculated. Processing times vary: bank transfers typically take 2-5 business days; local transfers may be faster depending on the destination country and banking infrastructure.
Minimum Payment Amount
₺5.000 TRY / $250.00 USD / €250.00 EUR / £250.00 GBP. Supplier payment amounts below these thresholds must accumulate before a payment can be initiated.
Payment Verification
Service providers must complete KYC (Know Your Customer) verification before initiating their first supplier payment. The bank account details provided must correspond to the verified identity on the account. Any changes to payment bank details are subject to re-verification.
Exchange Rates
When transactions involve currency conversion, the following policies apply.
Rate Source
Exchange rates are sourced from our payment processing partners who use mid-market rates from leading financial data providers, updated in real-time during business hours.
Conversion Timing
Currency conversion occurs at the time of transaction settlement. The applicable rate is the rate at the moment the payment is confirmed by the payment processor, not the time the payment link is created.
Conversion Fee
A currency conversion fee of up to 5.0% above the mid-market rate may be applied by the payment processor when converting between currencies. This fee is transparently displayed before the transaction is confirmed.
Rate Fluctuation Risk
Users acknowledge that exchange rates fluctuate and that the rate at the time of payout may differ from the rate at the time of payment receipt. Payoup does not guarantee any specific exchange rate for future transactions.
Payment Processor Safeguards
Payoup is not a payment processor or fund custodian and does not hold third-party funds. Any safeguarding, segregation or other regulatory protection applicable to funds held by the payment processor is provided and administered by that regulated payment provider in accordance with its applicable regulatory obligations and terms.
Fund Handling
Payments are collected and held by licensed third-party payment processors. Payoup does not hold client funds directly. Once settlement is complete, the funds pass to Payoup\'s merchant account as its own sales revenue; Payoup then discharges its own purchase obligation (the supplier price) to its supplier via a licensed Payment Service Provider. This is not a transmission of third-party funds. All fund custody and transfer operations are managed by licensed payment processors and regulated banking partners.
Banking Infrastructure
The licensed payment processors through which Payoup processes payments work with banking infrastructure providers. The selection and management of banking partners, and any regulatory oversight or deposit protection that may apply to them, are matters for those regulated providers under their own obligations. Payoup makes no representation or guarantee in respect of those arrangements.
Fund Security
Payoup does not hold third-party funds and does not use such funds for speculative investment or lending purposes. Any protection applicable to funds held by the payment processor is provided within the regulatory obligations of that regulated provider.
Transaction Reconciliation
Payoup reconciles transaction amounts and its commercial payables to suppliers within the platform daily against settlement reports received from the payment processor. Any discrepancies are immediately investigated and resolved in coordination with the payment processor.
Regulatory Compliance
Our payment processor undergoes periodic independent audit for compliance with applicable financial regulations. Payoup maintains its own internal audit processes for platform operations.
Fees & Charges
The following fee structure applies to monetary transactions on the Payoup platform.
Payoup Margin
Standard Plan:
TRY: 5.9% + ₺20 per transaction
USD: 5.9% + $0.50 per transaction
EUR: 5.9% + €0.40 per transaction
GBP: 5.9% + £0.35 per transaction
Premium Plan:
TRY: 3.9% + ₺20 per transaction
USD: 3.9% + $0.50 per transaction
EUR: 3.9% + €0.40 per transaction
GBP: 3.9% + £0.35 per transaction
This fee is Payoup's margin as principal seller, being the difference between the sale price and the supplier payment made to the Service Provider.
Payment Processor Fees
The licensed payment processor may apply the following additional deductions under its own rules and terms. These fees are not set by Payoup; they are deducted directly by the processor before settlement:
Per-Transaction Fee
A fixed or percentage fee applied by the payment processor on each transaction. Varies by card type, region, and payment method.
Rolling Reserve
The payment processor may hold a percentage of transaction amounts as a temporary reserve for risk management. The reserve rate, duration, and conditions are determined entirely by the payment processor.
Bank Transfer Charges
Transfer fees applied by the payment processor or intermediary banks during the supplier payment, including SWIFT/SEPA charges and correspondent bank deductions. These vary by destination country, currency, and transfer method.
Supplier Payment Transfer Fees
Payoup supplier payment processing fee — Standard: 2.0% | Premium: 0.5%. Additionally, bank transfer fees, network fees, and intermediary bank charges determined by the payment processor and banking infrastructure may apply. These additional fees are not set by Payoup.
Currency Conversion Fee
A currency conversion fee of up to 5.0% above the mid-market rate may be applied by the payment processor when converting between currencies. This fee is set by the payment processor, not by Payoup.
No Hidden Fees
Payoup does not charge account maintenance fees, monthly subscription fees, or inactivity fees (see Dormant Account policy for exceptions). All applicable fees are disclosed before transaction confirmation. Payment processor fees are transparently displayed in the user dashboard.
Fee Changes
Any changes to the Payoup margin will be communicated to users at least 30 days in advance via email and platform notifications. Payment processor fee changes are subject to the processor's own terms and conditions and are outside Payoup's control.
AML Compliance
Payoup works together with its licensed payment processor partners to prevent money laundering, terrorist financing, and other financial crimes. The following compliance measures are implemented in coordination with our payment processor:
Know Your Customer (KYC)
All users must complete identity verification before accessing payment features. KYC verification is conducted together with third-party identity verification providers (Didit) and our payment processor. Enhanced due diligence may be required for higher transaction volumes or when triggered by risk indicators.
Transaction Monitoring
All transactions are monitored using automated systems to detect suspicious patterns, unusual activity, or potential policy violations. Payoup performs platform-level content and behaviour monitoring; financial transaction monitoring is conducted by the payment processor. Flagged transactions may be held for manual review.
Regulatory Reporting
Our payment processor complies with all applicable reporting obligations, including Suspicious Activity Reports (SARs) to relevant financial intelligence units. Payoup may escalate suspicious activity to the relevant licensed payment provider and, where legally required, to the competent authorities. Users will not be notified of such reports as required by law.
Sanctions Screening
All users and transactions are screened by our payment processor against international sanctions lists, including OFAC, EU, and UN sanctions. Transactions involving sanctioned parties or jurisdictions are prohibited.
Source of Funds
Payoup or our payment processor may request documentation regarding the source of funds for large transactions or when required by compliance procedures. Failure to provide requested documentation may result in fund holds or account restrictions.
Dormant Accounts
Accounts that remain inactive for extended periods are subject to the following policies. As Payoup does not hold third-party funds, the dormant account policy covers platform access and account status only; any amounts held by the payment processor are subject to that processor's rules.
Definition of Dormancy
An account is considered dormant if there has been no login activity, transaction, or withdrawal for a continuous period of 12 months.
Notification Process
Before classifying an account as dormant, Payoup will send notifications at 9 months, 11 months, and 12 months of inactivity to the registered email address, requesting the user to log in or contact support.
Dormant Account Fees
After 12 months of inactivity, a dormant account maintenance fee may be applied to accounts with a remaining balance, in accordance with the payment processor's rules. The fee amount and conditions are determined by the payment processor. Payoup will notify users in advance of any such fee.
Reactivation
Dormant accounts can be reactivated by logging in and completing any required re-verification steps. Upon reactivation, dormant fees cease immediately.
Unclaimed Funds
Funds remaining in dormant accounts after 24 months of inactivity may be reported and remitted by the payment processor to the appropriate authorities in accordance with applicable unclaimed property laws.
Policy Changes
Payoup reserves the right to modify this Monetary Policy at any time. Changes will be communicated through the following channels:
- Email Notification: Material changes will be communicated via email to all registered users at least 30 days before the effective date.
- Platform Announcement: Updates will be posted on the platform dashboard and notification centre.
- Website Publication: The most current version of this policy is always available on our website with the effective date clearly displayed.
Continued use of Payoup services after the effective date of any changes constitutes acceptance of the revised policy. Users who do not agree with the changes may close their account and withdraw remaining funds before the effective date.