How payments work
Every payment on Qloxet is protected by escrow. Here's exactly how the money moves.
Never pay outside the app
Any payment made outside Qloxet has no escrow protection, no dispute resolution, and no refund guarantee. If someone asks you to pay off-platform, decline and report them.
1. Payment is collected upfront
When a booking is confirmed, the renter pays the rental fee plus the security deposit through the platform, using card, bank transfer, or wallet balance.
2. Funds are held in escrow
Qloxet holds both amounts; they are not sent to the owner immediately. This protects the renter in case the item isn't as described or handover doesn't happen.
3. Rental fee releases after handover
Once both parties confirm handover, the rental fee is released to the owner's wallet, minus the platform's commission.
4. Deposit releases after return
The security deposit stays held until the item is returned and both sides confirm its condition. If there's no dispute, it's released back to the renter.
Supported payment methods
Card and bank transfer via Paystack (primary), plus wallet balance for topped-up funds. All monetary amounts are processed and stored precisely, with no rounding errors.