Payment Policy for G-Class Marketplace
G-Class Global Resources Limited:
A Comprehensive Guide
To E-Commerce Marketplace Payment Policy
Introduction:
In the dynamic landscape of Nigerian e-commerce, G-Class Global Resources Limited stood tall as a notable player, offering a multi-vendor marketplace accessible at
The platform is designed to connect buyers and sellers across diverse
Integral sectors - ranging from electronics and household appliances to fashion, automobiles, and
Services -while providing a secure, streamlined, and regulatory-compliant payment environment.
The heart of any successful marketplace lies in its payment policy, shaping user trust, vendor.
Confidence and overall operational integrity.
This comprehensive guide explores in detail the payment policy of G-Class Marketplace. It
Outline payment flows, Paystack integration, and transaction mechanics, supported
payment channels, seller disbursement and commission structures, pay-out schedules, dispute
handling, regulatory compliance, data privacy, vendor onboarding, and best practices. The
report draws extensively on official statements, developer documentation, and scholarly analysis.
and regulatory guidelines to offer an expert-level understanding tailored to users, vendors,
Fintech developers and stakeholders in the Nigerian digital commerce space.
G-Class Marketplace Overview:
G-Class Global Resources Limited is formally registered in Nigeria (CAC No: RC1775953) and
operates with a mission to drive e-commerce and trade throughout Nigeria and West Africa.
The G-Class Marketplace serves as a meeting point for a wide variety of vendors, each managing
their own inventories and pricing but unified via a centralized buying experience for consumers.
Products and services range from electronics, fashion, appliances, books, health products, to
Industrial, automotive, and energy solutions. G-Class positions itself as highly customer-centric,
emphasizing secure payments, prompt delivery, and responsive customer support.
A few critical marketplace features highlighted by the platform include:
▪ Secure payment system: Marketing the guarantee of 100% payment security.
▪ Free shipping: On all naira orders or orders above ₦500,000.
▪ 30-day return policy: Items can be returned within 30 days for an exchange.
▪ 24/7 support: Round-the-clock customer support services.
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As an online multi-vendor marketplace, G-Class facilitates transactions by acting as an
intermediary between buyers and sellers, handling the collection and disbursal of funds,
managing commissions, and ensuring compliance with industry regulations. This function is
central to its payment policy, which is built around integrated payment processing-chiefly via
Paystack-to foster trust, speed, and transactional transparency.
G-Class Payment Policy Outline
Core Principles
G-Class’s payment policy is engineered to ensure transactional security, regulatory
compliance, and operational fairness for all marketplace participants. Its structure
incorporates:
▪ Secure buyer payment collection via a PCI DSS-compliant gateway (Paystack).
▪ Transparent vendor disbursement, including automated commission deductions.
▪ Clear refund and dispute resolution procedures to handle failed, duplicate, or contested
transactions.
▪ Full alignment with Nigerian payment regulations and data privacy standards.
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The policy requires all buyers to make payment through the authorized Paystack gateway.
No cash-on-delivery or unauthorized offline settlement is permitted for regular marketplace orders,
thereby minimizing the risk of fraud and enhancing platform accountability.
Vendors only receive funds after successful payment confirmation and completion of vendor
obligations (such as shipment), with pay-outs managed on a scheduled basis or, where eligible,
through Paystack's Pay-outs on Demand feature. Commissions, gateway charges, and other
platform dues are deducted automatically before settlement.
Refunds and chargebacks are handled in accordance with industry-standard protocols,
balancing customer protection with vendor interests and compliance with CBN regulations. The
marketplace policy also mandates rigorous KYC protocols for all vendors before activation to
ensure legitimacy and reduce the potential for money laundering or fraudulent activity.
Buyer Payment Flow on G-Class
The buyer payment journey on G-Class is designed to be intuitive, secure, and versatile,
reflecting both global e-commerce best practices and the realities of Nigeria’s digital payment
landscape. The standard steps are as follows:
1. Product Selection and Cart Review
Buyers browse the G-Class storefront, select desired items from multiple vendors, and
Proceed to the checkout page.
2. Order Summary and Buyer Account Verification
At checkout, users review the consolidated order summary, update or confirm delivery
details, and if not already logged in, authenticate themselves via account login or guest
checkout process.
3. Payment Method Selection
G-Class presents a range of payment methods processed by Paystack, including debit and
credit cards (Visa, MasterCard, Verve, Amex), bank transfers, USSD, and QR payments, among other options available, depend on the buyer's location and system availability.
4. Payment Processing
On selecting the preferred method, the buyer is redirected or presented with Paystack’s
secure payment interface (either via online pop-up or hosted redirect). Payment details are
entered and authenticated per channel-specific requirements.
5. Transaction Authorization and Confirmation
Upon completion, Paystack authorizes the payment and returns the transaction status
electronically to the G-Class platform. Buyers receive immediate on-screen feedback and a
payment confirmation via email or SMS, depending on their notification preferences.
6. Order Fulfillment
Vendors are notified of paid orders and must fulfil them within stipulated timeframes. Funds
are held in escrow by the G-Class platform (or via Paystack’s subaccount system) until
completion milestones-such as shipmentconfirmatione met.
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Payments made outside these guided steps (for example, direct vendor-bank settlements or
cash-on-delivery) are explicitly forbidden under G-Class policy, and such transactions are void
platform protections, including buyer guarantees and return/refund rights.
Paystack Integration on G-Class
Why Paystack?
Paystack is a preeminent African payment service provider, specifically tailored for businesses
operating within Nigeria, Ghana, South Africa, and beyond. It’s a robust PCI DSS Level 1
compliance, ease of integration, extensive payment channel support, and deep alignment with
Nigerian regulatory frameworks make it the gateway of choice for G-Class Marketplace.
G-Class’s selection of Paystack enables:
▪ Multi-channel digital payment acceptance: Including cards, bank transfer, USSD, QR, and
mobile money.
▪ Automated split payments: Allowing the marketplace to deduct commissions and route net
proceeds to vendors seamlessly.
▪ Secure transaction handling: With encryption, real-time fraud monitoring, and full PCI compliance
DSS/ISO certification.
▪ Instant settlement and flexible payout schedules: Catering to both standardized and on-demand
vendor withdrawal requirements.
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Paystack Transaction Architecture
Integration with Paystack is realized via its developer APIs and JavaScript checkout libraries,
following industry-standard three-step processes:
Transaction initialization, Completion, and Verification.
Transaction Initialization:
When a buyer proceeds to pay, the G-Class backend initializes the transaction by making a
secure API call to Paystack, including parameters such as the buyer’s email, transaction amount (in
kobo, for NGN), currency, transaction reference, callback URL, and ,if applicable, split codes orSub-accountt details for vendor disbursement.
Paystack responds with an authorization URL and an access code, which are passed to the
Front end for buyer interaction.
Payment Interface and Channels
The buyer is redirected (or a pop-up is triggered) to Paystack’s payment interface. Depending on
marketplace configuration and buyer selection, the interface can present:
▪ Card entry fields (Visa, MasterCard, Verve, Amex, etc.)
▪ Bank transfer instructions (with unique payment reference)
▪ Bank account authentication (using OTP)
▪ USSD payment codes
▪ QR code for scanning via banking/mobile apps
▪ Apple Pay, where supported
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Only channel options enabled by G-Class are shown; unsupported or administratively disabledMethodss (e.g., in case of technical issues) are hidden from the checkout flow.
Payment Completion and Verification
Once the payment is attempted, Paystack notifies G-Class of the outcome via backend call back
or webhook systems, including a digital signature and metadata for verification. The G-Class
server then cross-checks the transaction’s status directly with Paystack’s Verify Transaction
endpoint, ensuring the payment is cleared and secure before proceeding to order fulfillment.
Paystack Payment Channels Supported
A key advantage of the G-Class integration with Paystack is the multiplicity of supported
payment channels, ensuring frictionless transaction experiences for a wide array of Nigerian
buyers-regardless of their preferred financial instruments.
Major Channels on G-Class via Paystack
▪ Debit/Credit Cards: Including all major networks (Visa, MasterCard, Verve, and American
Express). Cards must be issued and authorized within Nigeria or, where supported,
internationally.
▪ Direct Bank Transfer: Facilitating real-time settlement from buyers’ Nigerian bank accounts
via customized payment instructions.
▪ Bank Account/Internet Banking: Permitting buyers to authenticate bank account payments
via OTP or direct interface to supported banks.
▪ USSD Payments: Buyers can use USSD codes on their mobile phones, following interface
prompts to authorize transactions securely.
▪ QR Code Payments: Allows buyers to scan a dynamically generated QR from their mobile
app and complete the payment instantly.
▪ Apple Pay (for Nigerian-issued cards on supported Apple devices): Enabling in-app and
browser-based payments for the ecosystem where available.
▪ Mobile Money (in limited regional contexts and where enabled for Nigeria).
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Not all channels may be presented to every user at all times; Paystack and G-Class continuously
update and optimize offerings based on real-time payment engine availability, regulatory
constraints, and user analytics.
Security and User Experience
Every payment channel is protected through Paystack’s PCI DSS-compliant infrastructure and
advanced anti-fraud mechanisms, delivering encryption and tokenization of all sensitive data.
Users are frequently required to complete two-factor authentication (2FA), including OTPs, to
mitigate unauthorized access and enhance transaction reliability.
Seller Disbursement and Commission Management
Commission Structure
G-Class Marketplace charges vendors a commission on every successful sale, deducted
automatically before disbursement. The commission rate is set per platform policy and reflects
industry standards for Nigerian e-commerce, typically ranging between 5-10% depending on
product category and special promotions. The platform may also pass on a portion of payment
processing fees to sellers, as specified in vendor agreements.
Disbursement Model
Vendor payments are managed via Paystack’s subaccount and split-payment APIs. On
transaction initialization, G-Class specifies the vendor’s registered subaccount code and the
agreed split parameters. Paystack automatically routes:
▪ The net proceeds (after deducting G-Class commission and any additional charges) to the
vendor’s settlement account, and
▪ The commission to the G-Class marketplace main account.
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This architecture eliminates manual collection and settlement, reduces errors, and ensures full
transparency for both parties. Vendors can track their earnings in real time via the G-Class
platform dashboard and receive automated statements corresponding with their payout
schedules.
Transaction Charges
Payment gateway charges incurred on each transaction are typically absorbed by the G-Class
platform or, if policy dictates, shared with the vendor through net proceeds calculation.
Paystack’s prevailing fees for Nigerian transactions are aligned with market averages and
disclosed during vendor onboarding and in quarterly policy updates.
Settlement and Pay-out Schedules
Standard Pay-out Schedule
Vendor funds are held in escrow by G-Class or, via Paystack, in the settlement account until
specific fulfillment milestones are achieved-most commonly, order shipment and
acknowledgment of buyer receipt. Once validated, funds are queued for disbursement.
G-Class, through Paystack, adheres to the "T+1” payout standard: Vendors are settled
automatically one business day after payment collection and order completion. This ensures
vendors receive funds promptly while allowing the platform a small window to detect and
resolve transaction anomalies or potential disputes.
Pay-outs on Demand
Eligible vendors can access Pay-outs on Demand - a Paystack feature allowing instant withdrawal
of up to 70% of their pay-out balance, at any time (including weekends and public holidays),
subject to a 1% instant payment charge. Eligibility requires an active transaction history and
compliance with risk monitoring policies. The feature is designed to aid liquidity for highturnover
vendors and those with urgent cash flow needs.
Exceptions and Restrictions
▪ Pay-outs to new vendors may be subject to extended hold times during initial risk reviews or
until shipment compliance and KYC checks are complete.
▪ Regulatory directives or security flags can cause temporary settlement holds pending further
investigation.
▪ Complex or disputed orders may experience delay beyond standard payout cycles until
resolved.
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Refund and Dispute Resolution
Refunds:
Buyers are eligible for refunds under the G-Class refund policy, typically in instances of:
▪ Non-delivery or significant delivery delay,
▪ Delivery of defective, inaccurate, or damaged items,
▪ Duplicate or unauthorized charges.
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Refund requests must be initiated within the platform-usually via the buyer’s order dashboard
or by contacting customer service. Approved refunds are processed promptly, with funds
reversed through the original payment method via Paystack’s refund API. For ca ard, bank, or
USSD transactions, reversal can take 1-7 business days, depending onthe channel and the recipient
bank's processing speed.
Sellers are required to cooperate fully with the investigation procedures, provide relevant
fulfillment evidence, and adhere to outcome directives from the platform’s dispute resolution
team.
Chargebacks and Payment Disputes
If a buyer escalates a payment dispute to their card issuer (initiating a chargeback), G-Class and
Paystack is promptly notified. Card scheme rules and CBN directives apply, and G-Class must
respond to chargeback notifications within 16 hours (business days), providing supporting
documentation or accepting reversal. Chargebacks may result in tthe emporary freezing of
corresponding seller funds until resolution.
G-Class handles these issues in collaboration with Paystack, aligning all actions to local and
global card network best practices. Unresolved or fraudulent chargebacks may lead to seller
sanctions, platform removal, or legal escalation as appropriate.
Fee Structure and Transaction Charges
Marketplace Fees
▪ Vendor Commission: Automatically deducted from the gross sales amount before
settlement, as per agreement.
▪ Payment Gateway Fee (Paystack Standard Nigeria Rate): Usually 1.5% (local debit/credit
cards) + ₦100 for amounts above ₦2,500; capped at ₦2,000 per transaction. Bank transfer and
USSD payment fees typically follow similar structures, subject to periodic revision.
▪ Refund/Chargeback Handling: In the case of chargebacks, reversal recovery or dispute
administration fees may be deducted from the vendor’s future earnings or withheld pending
investigation.
▪ Other Administrative Fees: Special promotional campaigns or expedited services may
attract additional charges; these are transparently disclosed in advance.
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Fee Responsibility
Unless otherwise stipulated, G-Class bears default platform maintenance and gateway fees,
passing only clearly communicated costs to vendors. All fees and commissions are fully itemized
in vendor payout reports and invoices for maximum transparency.
Security and PCI-DSS Compliance
G-Class Marketplace leverages Paystack’s PCI DSS Level 1 certified backend, ensuring all
payment data-card numbers, CVVs, aand uthentication tokens are encrypted and tokenized per
global best practices. Sensitive payment information never transits or is stored on G-Class
servers, dramatically reducing breach risk and compliance liability.
Security Features
▪ End-to-end encryption of payment data between customer browsers, Paystack’s servers,
and vendor endpoints.
▪ Real-time fraud analytics and anomaly detection (velocity checks, device/browser
fingerprinting, etc.).
▪ Tokenization of card numbers and personal details to safeguard against interception.
▪ Mandatory two-step authentication (OTP, 3DSecure) for card payments.
▪ Regular security audits and annual compliance recertification.
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PCI Compliance Requirements
▪ All merchants accepting and processing card payments via Paystack must agree to PCI DSS
terms.
▪ Custom code or checkout experiences integrating the Card API directly (as opposed to using
Paystack’s checkout widget) require vendors to supply up-to-date PCI DSS Attestation of
Compliance certificates.
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Paystack’s security status is recognized by Visa, MasterCard, and the Central Bank of Nigeria (as
a Payment System Service Provider with a full commercial license.
Vendor Onboarding and KYC
KYC Process
To comply with Nigerian financial regulations and mitigate vendor impersonation fraud, G-Class
employs a robust Know Your Customer (KYC) protocol for all vendors pbeforeactivation. The
workflow requires submission and digital verification of:
▪ Legal business registration documents (CAC certificate, TIN, etc.).
▪ Corporate bank account details, linked and verified via Paystack’s subaccount onboarding.
▪ Representative identification (national ID card, INN Passport, driver’s license, or voter’s card).
▪ Proof of address (utility bill, lease agreement).
▪ Principal director/shareholder information in the case of company accounts.
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Ongoing Compliance
▪ G-Class reserves the right to conduct enhanced due diligence at any time, especially in cases
of suspicious activity, large-volume vendors, or regulatory updates.
▪ Non-compliance results in suspension, delayed pay-outs, or permanent removal from the
marketplace.
▪ KYC data is processed in alignment with the Nigeria Data Protection Regulation (NDPR)-see
next section.
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Nigerian Payment Regulatory Environment
Central Bank of Nigeria and Cashless Policy
All payment activities on G-Class adhere to guidelines set forth by the Central Bank of Nigeria
(CBN), including regulations around digital payment facilitation, anti-money laundering, and
fraud prevention. E-commerce platforms like G-Class play a significant role in the ongoing
transition to a cashless economy, following CBN policies introduced since 2012, targeting greater
efficiency, transparency, and systemic risk reduction in Nigeria’s growing digital payments
sector.
Key regulatory mandates relevant to G-Class operations include:
▪ Daily transaction limits for individual and corporate account holders.
▪ Tiered service charges for high-volume withdrawals/deposits.
▪ Exclusive reliance on licensed payment service providers (e.g., Paystack) with PSSP licenses.
▪ Mandatory KYC and AML (anti-money laundering) measures for all vendors and high-valu transactionse
buyers.
▪ Timely reporting and proactive engagement with NDIC, EFCC, and sector regulators in case
of payment irregularities or customer complaints.
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G-Class routinely updates its payment processing and KYC workflows in response to regulatory
changes or CBN policy refreshes to avoid financial penalties and safeguard platform integrity.
Data Privacy and NDPR Compliance
Nigeria Data Protection Regulation (NDPR)
G-Class recognizes and fully implements the protocols required under the Nigerian Data Protection
Regulation (NDPR) 2019, the principal legal instrument for data privacy in Nigeria. The policy
governs all collection, processing, storage, and transmission of personal dataabouto
buyers and vendors.
NDPR Governing Principles Applied at G-Class
▪ Data Minimization: Collect only essential personal data required for transaction completion
or regulatory purposes.
▪ Lawful Processing: All user data is obtained with explicit consent and used strictly for
transactional and platform engagement.
▪ Transparency: Privacy policies and consent forms are clearly presented during registration,
purchase, and vendor onboarding.
▪ Data Security: Robust encryption and access-control measures are in place; third parties
(such as Paystack) processing on behalf of the platform are NDPR-compliant.
▪ User Rights: Buyers and vendors may request access, validity checks, correction, or deletion
of their personal information at any time.
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Data Subject Rights
Pursuant to NDPR, all G-Class users may at any time:
▪ Obtain confirmation that their data is being processed.
▪ Request description of data held and processing purposes.
▪ Demand correction or deletion of inaccurate or unlawfully processed data.
▪ Object to certain forms of processing, including unsolicited marketing.
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G-Class maintains a structured data protection office to fulfil NDPR obligations and respond to
data subject requests efficiently.
Best Practices and Case Studies
Payment Orchestration and Trust
G-Class leverages global best practices in managing e-commerce payment flows:
▪ Buyer Protection and Escrow: Holding funds pending delivery confirmation minimizes fraud
and boosts user trust, as endorsed by global platforms and in line with local expectations.
▪ Transparent Fee Disclosure: All commissions, fees, and charges are disclosed upfront to
vendors and buyers, eliminating hidden costs or surprise deductions.
▪ Omni-channel Payment Support: Catering to a broad buyer demographic, especially in
Nigeria, where debit cards, USSD, and bank transfers predominate over credit facilities.
▪ Automated Commission andpayoutt Splitting: Makes use of Paystack’s Split API and
Sub-accounts to eliminate manual errors and payment reconciliation challenges.
▪ Instant and Scheduled Pay-outs: Address vendor needs for liquidity and operational cash
flow, maintaining seller engagement and performance.
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Compliance Success
By embracing NDPR, PCI DSS, CBN guidelines, and KYC protocols, G-Class positions itself as a
trustworthy and compliant platform, capable of scaling its marketplace activities and
onboarding vendors rapidly while minimizing risk. The successful integration of Paystack as the
exclusive payment orchestrator ensures industry-leading transactional security, redundancy,
and compliance with both national and international standards.
Conclusion
The G-Class Marketplace payment policy is a well-structured, security-centered, and
compliance-driven framework, meticulously designed to address the needs of Nigeria’s fast-growing
digital commerce sector. Through its exclusive reliance on Paystack for payment
processing-covering cards, bank transfer, USSD, and QR-and the automation of commission,
settlement, and refund flows, G-Class delivers an efficient and transparent payment experience
for both buyers and sellers.
Rigorous KYC and NDPR protocols underpin the platform’s vendor onboarding and data privacy
posture, while CBN regulatory alignment ensures continued business viability and user
Protection. By combining global e-commerce best practices with localized innovations, G-Class is
poised to scale as a leading multi-vendor marketplace in Nigeria and the West African region.
For any user or vendor considering engaging with G-Class, the hallmark of its payment
ecosystem is security, transparency, regulatory compliance, and a relentless focus on
customer satisfaction.
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