Frequently Asked Questions

Our KYB (Know Your Business) verification is automated and typically completes in under 2 hours. You'll need:

• Proof of company registration (Companies House registration, Articles of Association, or equivalent)
• Proof of business address (utility bill, bank statement, or official correspondence, less than 3 months old)
• Identity verification for all Ultimate Beneficial Owners (UBOs) with more than 25% ownership
• A bank statement in the name of the company

For businesses in high-risk categories (crypto, gambling, high-ticket retail), additional documentation may be required. Our KYB team will contact you if additional information is needed — typically within 1 business hour.

Yes. NexaFin provides official SDKs for Node.js, Python, Java, Ruby, PHP, Go, .NET, and iOS/Android. Our REST API works with any technology stack that can make HTTP requests.

We also maintain pre-built plugins for major e-commerce platforms: Shopify, WooCommerce, Magento 2, BigCommerce, PrestaShop, and Salesforce Commerce Cloud. ERP connectors are available for SAP S/4HANA, Oracle ERP Cloud, NetSuite, Xero, and QuickBooks.

If you're using a platform we don't have an official connector for, our developer community has likely built one — check our integrations marketplace.

Absolutely. Our sandbox environment is completely free with no time limit. You can:

• Make unlimited test transactions with our test card numbers
• Simulate any payment scenario including failures, declines, and 3DS challenges
• Test webhooks with a built-in webhook inspector
• Explore the full dashboard with sample data
• Test open banking flows with our simulated bank connections

The sandbox is designed to be as realistic as possible — real API responses, realistic latencies, and comprehensive test card coverage for edge cases.

NexaFin supports 135+ currencies and 80+ payment methods, including:

• Cards: Visa, Mastercard, American Express, UnionPay, JCB, Discover, Diners Club
• Bank transfers: SEPA (EUR), Faster Payments (GBP), ACH (USD), SWIFT (international), BACS
• Digital wallets: Apple Pay, Google Pay, PayPal, Alipay, WeChat Pay, Samsung Pay
• Local methods: iDEAL, Bancontact, SOFORT, Giropay, Boleto, OXXO, UPI, PayNow, FPX
• Buy Now Pay Later: Klarna, Afterpay/Clearpay, Affirm, Zip (via direct integrations)

Local payment methods are automatically presented to customers based on their location, device type, and transaction context.

NexaFin's intelligent retry engine handles failed payments in multiple ways:

• Immediate retry: Soft declines (insufficient funds, do-not-honour) are automatically retried via an alternative acquirer within seconds
• Scheduled retry: For subscription billing, our ML models predict the optimal retry timing based on the specific decline reason and customer's historical payment patterns
• Dunning sequences: Configurable email and in-app notification sequences for subscription failures, with a self-service payment update link

Our Revenue Recovery system recovers an average of 23% of otherwise lost subscription revenue. Hard declines (stolen card, closed account) are not retried.

Settlement timing depends on your plan and the payment method:

• Starter: T+2 (2 business days after transaction)
• Growth: T+1 (next business day)
• Enterprise: Same-day settlement available for card payments; instant settlement for bank transfers

Open banking payments (account-to-account) settle in real-time in markets with real-time payment rails (UK Faster Payments, SEPA Instant, US RTP). SEPA Credit Transfers settle in 1 business day. SWIFT international wires typically take 1–3 business days.

All settlements are in GBP by default. Multi-currency settlement is available on Growth and Enterprise plans.

NexaFin provides a complete dispute management system. When a chargeback is initiated:

• You receive an immediate email and webhook notification with full dispute details
• The dispute appears in your dashboard with all relevant transaction data pre-populated
• Our system automatically compiles evidence packets including delivery confirmation, order history, and previous non-disputed transactions from the same customer
• You review and submit evidence through the dashboard — typically takes 5 minutes per dispute
• We submit the evidence response within the card network's response window

Growth and Enterprise customers have access to our Chargeback Guarantee programme, which provides financial protection against friendly fraud chargebacks on transactions where Fraud Shield's risk score was below 200.

No. NexaFin operates on completely transparent pricing:

• No setup fees on any plan
• No minimum monthly commitments on Starter and Growth plans
• No long-term contracts — cancel any time with no exit fees
• No charges for failed transactions or refunds
• No currency conversion fees within your account (FX trades are charged at a stated, transparent margin)

The only fees you pay are the stated monthly plan fee (if applicable) and the per-transaction fee for successful payments. We publish all fees publicly and notify customers 30 days in advance of any fee changes.

Growth plan billing has two components:

• Monthly platform fee: £299/month, billed on the same day each month. The first 14 days are free.
• Transaction fees: 1.4% + £0.15 per successful transaction, deducted from your daily settlement batch.

You'll receive a detailed invoice on the 1st of each month showing the platform fee, transaction volume, gross fees, and net settlement amount. Transaction fee deductions are visible in real-time in your dashboard.

If you process over £2M monthly on Growth, we'll automatically reach out about our Enterprise pricing, which includes volume discounts from 0.5%.

Yes, we offer two discount programmes:

• NexaFin Startup Programme: 90% off Growth plan pricing for 12 months for qualifying startups (under 3 years old, under $5M raised, under $1M ARR). Apply through our website.
• Not-for-profit pricing: Registered charities and NGOs receive 50% off transaction fees on any plan. Send your charity registration number to pricing@nexafin.io.

We also offer academic institution pricing for universities and research institutions using NexaFin for research or student projects.

Yes. NexaFin holds the following regulatory authorisations and certifications:

• FCA Authorisation: Authorised as an Electronic Money Institution (EMI) and Payment Institution by the UK Financial Conduct Authority (FCA). FCA Registration No. 924581.
• PCI-DSS Level 1: The highest level of PCI-DSS compliance for payment card data security. Certified by an independent Qualified Security Assessor (QSA).
• ISO 27001:2022: Certified information security management system.
• SOC 2 Type II: Independent audit of our security, availability, and confidentiality controls. Available on request for Enterprise customers.
• GDPR: Fully compliant with UK and EU GDPR requirements. ICO registration ZA842913.

For EU operations, NexaFin operates under our Irish EMI licence (Central Bank of Ireland) with PSD2 passporting rights across all EEA member states.

We apply multiple layers of security to protect all data:

• Encryption at rest: All data encrypted with AES-256 at rest across all storage systems
• Encryption in transit: TLS 1.3 for all data in transit; certificate pinning on our mobile SDKs
• Card data: PCI-DSS Level 1 compliant tokenisation means card numbers are never stored on our servers after the initial transaction
• Network segmentation: Production payment systems are isolated in separate network segments with access controls and monitoring
• Penetration testing: External penetration tests conducted quarterly by three independent security firms
• Bug bounty: Active bug bounty programme with payouts up to £50,000 for critical vulnerabilities

Our Security page contains our full security whitepaper and details of our disclosure programme.

Yes, absolutely. As an FCA-authorised Electronic Money Institution, NexaFin is legally required to safeguard customer e-money funds. This means:

• Customer funds are held in segregated safeguarding accounts at systemically important UK banks (Barclays and Natwest)
• Customer funds cannot be used for NexaFin's operating expenses, salaries, or any other business purposes
• In the unlikely event of NexaFin's insolvency, customer funds are protected and would be returned to customers as priority creditors
• The safeguarding arrangement is independently audited and reported to the FCA quarterly

Note: Safeguarding applies to e-money balances held within NexaFin accounts. Payment settlements in transit are covered by separate insurance arrangements.

NexaFin's NexaBank product connects to 12,428 financial institutions across 30+ countries as of May 2026. Coverage includes:

• United Kingdom: 98% coverage of UK current accounts (all major high street banks and over 200 building societies and credit unions)
• European Union: 10,200+ banks across all 27 EU member states via our PSD2 API aggregation layer
• United States: 950+ US banks and credit unions via our Plaid and MX co-aggregation partnership
• Australia: 42 ADIs (Authorised Deposit-taking Institutions) via CDR (Consumer Data Right)
• Canada, Brazil, Singapore: Growing coverage via local regulatory frameworks

Bank coverage is updated monthly. Check our bank coverage dashboard for real-time status on specific institutions.

NexaFin's open banking infrastructure is fully consent-based. Customers must explicitly authorise access to their bank data. The consent flow works as follows:

• The customer is redirected to their bank's own authorisation page (or uses their banking app) to grant permission
• Customers can specify which accounts to share and the duration of consent (typically 90 days, renewable)
• Customers can revoke consent at any time, both through your application and directly through their bank
• Access is granular — you can request read-only account data, payment initiation, or both

NexaFin's consent management tools help you track active consents, notify customers before expiry, and handle re-authorisation flows. All consent records are stored and auditable for regulatory compliance.

Account-to-account (A2A) payment initiation allows customers to pay directly from their bank account — without using a card as an intermediary. The process:

• Customer selects "Pay by bank" at checkout
• They select their bank from NexaFin's bank selector UI (or confirm if already connected)
• They're redirected to their bank's authorisation page to confirm the specific payment
• The payment is initiated via the Open Banking payment initiation API
• Funds settle via Faster Payments (UK), SEPA Instant, or equivalent real-time rails — typically within seconds

A2A payments cost significantly less than card payments (typically 0.1–0.3% vs 1.5–2.0%) and settle instantly. They're particularly suited for high-value transactions, utility payments, and B2B use cases.

NexaFin's payment infrastructure targets 99.999% uptime — less than 5.26 minutes of downtime per year for the core payment API.

This is achieved through:

• Multi-region architecture: Active-active deployment across AWS eu-west-1 (Ireland), eu-west-2 (London), and us-east-1 (Virginia)
• Automatic failover: Traffic is automatically rerouted in under 30 seconds if a region experiences issues
• Multi-acquirer routing: If one acquiring bank has an outage, transactions are automatically routed via alternative acquirers
• Zero-downtime deployments: All software updates are deployed with blue-green deployment, eliminating maintenance windows

Our public status page at status.nexafin.io shows real-time system status and 90-day uptime history. Enterprise customers receive custom SLAs with financial penalties for SLA breaches.

We take API stability very seriously. Our versioning policy:

• The current stable API version is v3 (released January 2026). Previous versions (v1, v2) remain fully operational.
• We commit to a minimum 24-month deprecation period before retiring any API version
• Breaking changes are only introduced in new major versions, never in patch or minor updates
• All customers are notified 6 months before a version deprecation via email and in-dashboard notifications
• We provide detailed migration guides and, for Enterprise customers, dedicated migration engineering support

You can pin your integration to a specific API version by passing the Nexafin-Version header. This ensures your integration behaviour is consistent even as we release new features.

Rate limits vary by plan and endpoint type:

• Starter: 100 requests per second across all API endpoints
• Growth: 1,000 requests per second with burst capability to 5,000 RPS for 60 seconds
• Enterprise: Custom rate limits — typically 10,000+ RPS with no burst limit

Rate limits are applied per API key, not per account. If you need higher limits for a specific use case (e.g., bulk webhook processing), contact support and we'll adjust your limits accordingly.

Rate limit headers are returned on every API response: X-RateLimit-Limit, X-RateLimit-Remaining, and X-RateLimit-Reset. When limits are exceeded, we return a 429 status with a Retry-After header.