Payout and Commission Policy
This documentation provides a clear explanation of how payouts and commissions are handled on Stakevent, including the Gateway Revenue Commission (GRC) and the Organizer Payout Commission. It is for you to understand deductions, schedules, and payout procedures.
1. Gateway Revenue Commission (GRC)
Definition:
The GRC (Gateway Revenue Commission) is a processing fee charged by the payment gateway, not by Stakevent. It covers the transaction cost for all payments made through the platform.
Rate:
A fixed percentage (currently set at 4%) is automatically added to every payment at checkout. This rate may be reviewed and updated without prior notice.
Who Pays:
Event Guests, voters, and form buyers pay this additional charge alongside the organizer’s base price during checkout.
Recording and Visibility:
All payments, including the GRC, are recorded together with the organizer’s balance. This means the total shown in your balance includes both your actual earnings and the GRC portion.
You can confirm these details under the Transactions menu, where every payment is logged with its corresponding GRC value.
At the point of payout, WE WILL DEDUCT THE GRC from your balance before the payout is processed.
Example:
If a voter makes a vote for ₦1,000 and the GRC is 4%, the checkout total becomes ₦1,040.
- ₦1,000 goes to the organizer (earnings).
- ₦40 goes to the payment gateway (GRC).
Even though ₦1,040 is shown in your transactions, only ₦1,000 is your actual earning. The ₦40 (GRC) will be deducted at payout.
Note:
The GRC belongs entirely to the payment gateway. It is not for Stakevent to benefit but for you to get the full value of your money; this is why we don’t charge you directly for this.
2. Organizer Payout Commission
Definition:
This is the Stakevent service fee deducted from the organizer’s earnings during payout. It is separate from the GRC.
Purpose:
This commission supports the maintenance, security, and continuous improvement of the Stakevent platform.
Rate:
The commission rate depends on the payout schedule chosen by the organizer. Exact rates are available at bank details setup. You can read “HOW TO SETUP YOUR BANK DETAILS…” DOCS for more info.
3. Payout Schedules
Organizers can choose how often they wish to receive payouts. Each schedule has its own commission rate and processing period.
Available options:
- Daily Payouts – Funds are processed and released every day.
- Monday & Friday Payouts – Payouts are processed twice weekly.
- Monday, Wednesday & Friday Payouts – Payouts are processed three times weekly.
- Monthly Payouts – Payouts are released once a month.
4. Example Summary
| Description | Amount | Notes |
|---|---|---|
| Voter payment | ₦10,000 | Base cost set by organizer |
| GRC (4%) | ₦400 | Added at checkout, belongs to gateway |
| Total paid | ₦10,400 | Voter pays this total |
| Organizer earnings | ₦10,000 | Before payout |
| GRC recorded in balance | ₦400 | Displayed in transaction summary |
| GRC deducted at payout | ₦400 | Automatically removed |
| Stakevent commission | (Varies by schedule) | Deducted at payout |
| Final payout | ₦10,000 – GRC – Commission | Amount sent to organizer |
5. Important Notes
- Organizers can update their payout schedule only once per SCHEDULE TIME.
- All commissions and deductions are automatically calculated by the system.
- GRC values are recorded and visible in the Transactions menu for transparency.
- Commission rates and policies are subject to change, and updates will be reflected within your dashboard.
Conclusion
Stakevent aims to maintain transparent and fair financial operations for all organizers. This policy ensures that both organizers and the platform remain sustainable while providing seamless payment experiences to guests and voters.