Payment methods & fees
What buyers can pay with, how Waffy charges for it, and what needs to be in place before cashout can run.
Available payment methods
Waffy supports two categories of payment method. The methods enabled for your org are decided at onboarding — the hosted checkout shows only the ones that are on for you.
Standard methods
| Method | Notes |
|---|---|
| Mada | Saudi debit network. Instant. |
| Visa / Mastercard | Credit and debit cards. Instant. |
| Apple Pay | Instant. |
| STC Pay | Saudi mobile wallet. Instant. |
| Manual bank transfer | Not instant — see below. |
BNPL methods
Buy-now-pay-later methods require separate commercial terms with Waffy — they are not included in standard onboarding.
| Method | Notes |
|---|---|
| Tabby | Requires separate agreement. Ask Business Development. |
| Tamara | Requires separate agreement. Ask Business Development. |
| Neo | Requires separate agreement. Ask Business Development. |
Manual bank transfer — a different flow
Manual bank transfer is not instant. It has a human verification step — Waffy's team manually confirms that funds were received before the contract proceeds. Factor this into your buyer experience if you enable it.
| # | Step |
|---|---|
| 1 | Buyer selects bank transfer on the Waffy payment page. |
| 2 | Buyer transfers the amount to Waffy's bank account. |
| 3 | Buyer uploads the payment receipt on the Waffy page. |
| 4 | Contract status: awaiting Waffy team review. |
| 5 | Waffy's team confirms receipt of funds. |
| 6 | Approved → contract moves to next phase, funds in escrow. Rejected → contract returns to payable status, buyer can retry. |
Waffy fees
Waffy charges a fee on every transaction. The rate depends on the payment method the buyer used — each method carries a different rate — and on your rate plan, agreed once at onboarding.
- Who pays — Always your org. Never deducted from the buyer's payment or the seller's payout directly.
- When it's charged — At payment time, when the buyer funds the contract.
- How it's collected — Deducted from your settlement proceeds on each transaction.
- On a full refund — The fee is still charged. If your team sends a settlement request returning the full amount to the buyer, the fee is still owed by your org. Waffy recovers it from your future settlement proceeds — no transaction is ever blocked.
Waffy's fee per payment method is negotiated once with Business Development and applied to every transaction. It is set at org level — your team cannot override it per API call.
IBAN and address — required for cashout
Every party who receives funds in a settlement must have a registered IBAN and address on file with Waffy. If either is missing, Waffy will not execute the cashout for that party — the settlement itself still runs, but the payment out is blocked until the records are complete.
- IBAN — Saudi IBAN, beneficiary name, National ID, account type.
- Address — street, district, city, postal code, country code (SA).
Register IBAN and address for each user during the onboarding step of your integration — before any contract is created.
Card and BNPL payments refund automatically to the original payment method. Manual bank transfer refunds require the buyer's IBAN and address on file before the refund can be processed.
Next
- Org configuration — the settings configured on your org at onboarding.