Question 1

What is escrow?

Accepted Answer

Escrow is a system where a trusted third party holds money until both sides of a deal are satisfied. The buyer pays in, and the money is only released to the seller once the buyer confirms they received what they paid for.

Question 2

How does Fonlok work?

Accepted Answer

The seller creates an invoice on Fonlok and shares a payment link with the buyer. The buyer pays using Mobile Money. Fonlok holds the funds. Once the buyer confirms delivery, Fonlok pays the seller. If there's a problem, Fonlok investigates.

Question 3

Who pays the Fonlok fee â€” buyer or seller?

Accepted Answer

The seller pays a 3% fee on each transaction. Buyers pay the exact invoice amount with no additional charges from Fonlok.

Question 4

Are there monthly fees or subscription plans?

Accepted Answer

No. Fonlok is completely free to sign up for and free to use. The only cost is the 3% fee when a transaction is completed.

Question 5

What if there is a dispute?

Accepted Answer

Either party can open a dispute from their Fonlok dashboard. Fonlok freezes the funds and requests evidence from both sides. The team reviews everything and decides whether to release or refund the money.

Question 6

Which payment methods are accepted?

Accepted Answer

Buyers can pay with MTN Mobile Money and Orange Money. Credit/debit cards are not currently supported.

Question 7

Is creating an account free?

Accepted Answer

Yes. Creating an account on Fonlok is free and takes less than two minutes.

Question 8

Is Fonlok secure?

Accepted Answer

Yes. All transactions are encrypted and funds held in escrow are ring-fenced. Fonlok uses secure payment processors and never stores sensitive payment credentials on its servers.

Frequently asked questions

The basics

Payments & fees

Disputes & safety

Accounts

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