Asked Questions


What are Woven's core services

Woven is an integrated core of finance solutions which currently provides for the business that needs a faster, efficient and more reliable way to accept and reconcile payments. Once integrated, businesses can set up virtual accounts tied to each of their service offerings or have a single collection and payment account. After which, they are ready to receive payments, instantly reconcile, make disbursements and set up direct debits with subscribing customers.

What is Gamma?

Gamma is a novel payment and collection services offered by woven finance that allows merchants and corporates accept payments with account numbers via transfers and direct debits.

Gamma simplifies the payment by letting customers pay merchants via transfers to a vNUBAN account number (generated as part of the payment, and sign up for direct debits as part of the process). It is designed with merchants and customers in mind, Gamma is focused on making the payment and collection experience top-notch and cost-effective for both parties involved.

Who can use Gamma?

Gamma can be used by both individuals and businesses for collections and payment services.

Using Woven as a business

Woven’s platform is useful for all businesses that receive payments and also make disbursements. To begin enjoying all the benefits we provide our clients, please browse through our range of enterprise solutions, fill out this enquiry page or contact our sales team for your specific needs.

Why use Gamma?
  1. Cost-Effective: Collections via Gamma on direct debits and account transfers are cheaper than collections with cards.

  2. Instant Settlements: Gamma offers instant settlement for all transactions. Settlement happens instantly as payments are made to your bank accounts online and in real-time.

  3. Highly Secured: Merchants and payers’ data are highly secured when using the Gamma gateway. Gamma is committed to using the best technology and procedures to protect the security of your online transactions.

  4. Experienced Customer Support: Our clients are important to us and are our utmost priority. We have an experienced and amazing team that’s dedicated to ensuring an awesome experience for every client.

What are the differences between Woven and other payment platforms?

Unlike other platforms which predominantly use cards for processing payments, we use account transfers, powered by our virtual accounting technology, which also solves the reconciliation issue plagued by bank transfers and allows us provide instant reconciliation to our clients.

What are the differences between Woven’s system and a Bank’s system

Woven’s virtual accounts do not replace your standard bank accounts. Woven provides a new type of payment account system generated virtually, which functions similar to your regular account, allowing the convenience of bank transfer payments for your customers; while our payment settlement engine solves the reconciliation issues associated with large transaction volumes.

Why use Gamma as a business ?

Gamma is useful for all businesses that receive payments and also make disbursements. With our swift transfers, high success rate and super low processing fees, your business is sure to enjoy more profitability and happier customers. To integrate Gamma, please view our developer pages.

What are the benefits of Gamma's payment automation for businesses?

Our payment processes automation allows you create bespoke triggers and notifications on accounts, so funds flow how you need them to. This makes your payment processing, settlement and reconciliation easier; while eliminating manual efforts and errors.

Where is Gamma's service available ?

Woven services is currently available within Nigeria. However, we have plans to expand our network coverage within the entire continent and soon offer packages within the credit markets; with access to international payments and foreign currency exchange.

Who are Woven’s partners?

Woven is a company dedicated to solving real business challenges and as such, we’ve partnered with some of the leading banks in the country, including Coronation Merchant Bank, Access Bank and other soon-to-be-featured banks.

Who are Woven’s customers

You can view some of our customer case studies here. Some of the names you will recognise include Coronation Insurance and Coronation Securities.

How is Woven regulated?

We are licensed by the CBN to operate as a Payment Service Provider and are regulated by them.

Developer Information

We have our API documentation and Sandbox access on our Developer pages, as well as more information to make your integration faster and super eas


Processing Fees

Woven supports collections from customers bank accounts and pay-outs to bank accounts all over Nigeria, with fees detailed below


0.5% of the transaction value with a N50 minimum floor and a N100 maximum cap


N10 per transaction

Direct debit

0.5% of the transaction value with a N100 cap

What are the Transaction Limits?

Transaction Limits will be set and maintained by your settlement bank, so please contact your woven affiliated bank today for information on your transaction limits.

Payment Methods

What are Virtual Accounts?

Virtual accounts have all the capabilities of real bank accounts, but with added flexibility and self-service functionality; allowing corporates to accept bank transfer payments at scale, while also enabling clients segregate cash within their physical account

Overpayment or underpayment to a Virtual Account

Because we understand mistakes are a part of life we can’t change, and some instances will occur where a customer overpays or underpays the amount to be made to a virtual account; we have implemented a seamless flow where all incorrect amounts made to a virtual account fails, so you never have to worry about making refunds for those errors.

What is Direct Debit?

 Direct Debit is a payment method where a merchant or service provider can debit a customer’s account via clearing using a pre-authorized mandate and without the use of a token interface such as a card.


What are Chargebacks?

Chargebacks are used by customers to dispute transactions and secure a refund for their purchase

What is the timeline for resolving Chargebacks

Chargebacks via gamma will be treated within 48 hours.

How does Gamma handle Chargebacks?
  1. The customer’s bank initiates a chargeback request and the merchant gets notified

  2. The merchant either accepts or declines the request and has 24 working hours to provide supporting documents to back up the claim

  3. If the merchant accepts the chargeback, value is debited from his/her account and the customer’s bank is credited.

  4. If the merchant declines and the supporting document provided by him/her is accepted, the customer’s bank withdraws the request.


Contact Woven

For customer support enquiries, please fill out our digital form. For sales, click here and for all other enquiries, please visit our contact page.


Woven's Security

Woven is built on a secure platform with multi-factor authentication, activity observation and regular penetration testing.

Customer safety and security

The use of account transfers by woven means that the chances of fraud are reduced compared to other payment platforms, as all payments are made to verified banks accounts which can be easily traced.

Woven’s cloud usage

Woven is a modern fintech company, which employs extensive use of cloud-based services like AWS; enabling us build and deploy our solutions rapidly in a secure environment, while ensuring our customers’ security.


Make payments easier and faster with the best payment vehicle.

Simplify your payments process in a heartbeat. If you’re looking for a simple ‘plug and play’ solution to your payment challenges, or you need a custom integration to automate payments for a specific product/service, there’s something for you.


Woven Payment

One Payment Platform, Multiple Use-Cases. The Woven Solution has the capability to automate a myriad of industry-specific payment workflows.


A complete API function that allows our customers build payment experiences to suit each of their individual needs and tastes

Developers Access all the tools and resources you need to enable payments on your software using Woven technology.