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# InstantPay Wallet (NGN) - Merchant Guide

If you're an Onboard merchant, **InstantPay Wallet** is a new payment method for your NGN (Naira) ads on Onboard Exchange and OPN. It enables smoother onramp transactions and, for OPN merchants, fully automated payouts—no manual fund recycling required.

👉 Read this guide to get set up and start transacting with InstantPay Wallet.

## Why use InstantPay Wallet?

* **More orders**: Ads using InstantPay Wallet are prioritised when customers fund their accounts, increasing your visibility and order volume.
* **Better experience = higher conversions**: Customers complete payments via a fully automated flow - no manual confirmation or intervention needed from you.
* **Lower fees**: Cheaper than other automated payment methods (e.g. Paga), helping you earn more profits.

## 🎥 Videos

📹 [How InstantPay Wallet works - creating ads on Onboard Exchange](https://www.loom.com/share/42c7fb693875459690b8b141efab796f) *(watch this first)* 
📹 [How InstantPay Wallet works - for OPN merchants](https://www.loom.com/share/663f24eddbac48258f64a286b4daa05a)

|| Note: In the first video, we incorrectly stated that funds are sent instantly to your bank account after each transaction. Correct behaviour (Exchange merchants): Funds are settled in 2 batches daily. For OPN merchants, funds appear instantly in your InstantPay Wallet on OPN.

## How to create a Sell ad (on Onboard Exchange) using InstantPay Wallet

1. Go to your merchant dashboard
2. Create a new Sell ad or edit an existing one
3. Set your asset, price, available amount, and limits
4. Select your payment method (receiving bank account)
5. Toggle **“Use InstantPay”**, and select **InstantPay Wallet (NGN)**
6. Review and publish your ad

![](https://storage.crisp.chat/users/helpdesk/website/-/6/4/4/e/644e1a6090483000/image_5pr1zw.png)

###### What happens during an order?

When a customer initiates an order on an ad which you created with InstantPay Wallet:

* They **won’t see your bank details**
* Instead, they get a **one-time account number generated in their name**
* This account is valid only for that transaction

Once the customer sends funds:

✅ The transaction completes automatically
✅ No action is required from you


###### What happens after an order?

**If you're NOT an OPN merchant:**
* Funds are sent to your selected receiving account
* Settlements happen **twice daily (batched payouts)**

**If you're an OPN merchant:**
* Funds are credited **instantly** to your InstantPay Wallet on OPN
* You can withdraw anytime to your linked or external accounts


## Common Questions

1. **Will my ads get more visibility?**
Yes. InstantPay Wallet ads are prioritised during onramp flows. Competitive pricing will further improve performance.


2. **Do I need to confirm transactions manually?**
No. Transactions are fully automated once payment is made.


3. **Can I use InstantPay Wallet for Buy ads on Onboard Exchange and payout ads on OPN?**
* **OPN merchants:** Yes
* **Non-OPN merchants:** No, you can only create Sell ads


4. **Can I withdraw from my InstantPay Wallet?**
* **Non-OPN merchants:** Not applicable (funds from orders are auto-settled to your bank account)
* **OPN merchants:** Yes, anytime from your dashboard


5. **What happens if a transaction fails?**
Contact support with the transaction reference (you can find this in your order history), and the team will assist you.


6. **What are the fees?**
* **Onramp orders:** 0.5% per transaction
    * Minimum: ₦50
    * Maximum: ₦250
* **Automated payouts (InstantPay & OPN):** ₦40 flat
* **Monthly fees:** None


7. **What are the transaction limits?**
* **Per transaction:** ₦5,000,000


8. **What happens to Paga for InstantPay & OPN ads?**
We recommend using InstantPay Wallet in place of Paga for automated pay-in and payout ads.


9. **How do I fund my InstantPay Wallet?**
* **Non-OPN merchants:**
No action needed — funds come from completed orders

* **OPN merchants:**
You’ll get a dedicated account number linked to your InstantPay Wallet
→ Send funds to this account to power payouts


10. **What is OPN?**
**Onboard Payment Network (OPN)** enables automated cash payouts on Onboard. When users convert balances to cash, OPN merchants typically fulfill those transactions.


11. **How to become an OPN merchant?**
First, you'll need to be a registered merchant on Onboard. Click here to learn more: [*Becoming a merchant on Onboard: a comprehensive guide*](https://help.onboard.xyz/en/article/becoming-a-merchant-on-onboard-a-comprehensive-guide-134ie9g/)

Once you're approved as a merchant, getting on OPN is simple — just set up a Sell ad with InstantPay Wallet enabled and you'll be automatically provisioned. No separate application needed.