Multi-currency Wallet Now on Mainstack: Here's What's New

We’ve been improving Mainstack to help creators and businesses sell, get paid, and manage their businesses more easily. From a new NGN balance to a simpler verification process, here are the latest updates and what they mean for you.

Multi-currency Wallet: Earn and Withdraw in Naira

Businesses registered in Nigeria can now get paid in Nigerian naira (NGN), with funds settled directly into their NGN balance.

Before now, getting paid and managing withdrawals in Nigeria could mean dealing with currency conversions and exchange rates that changed depending on the economy. 

With the new NGN balance, Nigerian businesses can get paid in NGN and withdraw them directly in the same currency. That means fewer unnecessary conversions and more control over your money. 

But if you do want to convert your earnings, we also took care of this and you have an option to do so.

Simpler Verification, Less Friction

In order to keep our community safe, we’ve also updated how identity and business verification work on Mainstack., making it easier to get started while maintaining the verification requirements to keep your account secure and remain compliant with appropriate regulations. 

Here’s what’s changed.

KYC is now required before you can collect payments

Before this update, you could start collecting payments before completing verification, but you couldn't request a payout until verification was complete. This led to a situation where you had earnings in your account but couldn’t withdraw it until KYC was done.

Now, we’ve revised our KYC system so that you complete it right at the start before collecting payments. That way, it’s done once and for all and you can withdraw immediately you start earning with no extra step in between.

KYC is also required before any withdrawal, whatever you use Mainstack for. And because KYC and KYB are separate checks, passing one doesn’t stand in for the other.

Creators no longer need KYB to start selling

We’ve separated KYC (Know Your Customer) from KYB (Know Your Business), simplifying the process for creators who sell digital products, courses, and other products through their storefronts.

If you're a creator selling through your Mainstack storefront, you only need to complete KYC verification to get started. You no longer have to go through the additional KYB process or wait for business verification before you can sell.

Once your KYC is successfully verified, you're ready to go.

Businesses using payment tools still need KYB

If you use Mainstack's payment tools, such as Invoicing and Payment Links, you'll need to complete both KYC and KYB verification.

This additional step helps us better understand your business and the nature of the payments you're collecting.

The goal is straightforward: we want to make it easier for everyday creators to start selling without removing the verification requirements businesses need.

A dashboard built around your next step

Finally, we've revamped the dashboard to focus on what you do as a creator, affiliate, community owner or business. 

Specifically, four things changed.

Home. Everything you need to take your first step towards your first or next dollar now sits on the homepage, next to your total balance. Creating a product, or getting started after you sign in, begins right there.

Analytics. Analytics has its own tab now. It covers revenue, average order value, store visits, link-in-bio visits and more. You still choose which metrics to show and which to hide whenever you like.

Product types. We've separated the product types and added new ones, so one account gives you several ways to earn, whether you're a creator, a business owner or a community builder.

Launch checklist. When you create a product, a course or any other digitally sellable item, four key steps appear to help get it off the ground. You see exactly what to do next.

It's still the same Mainstack, just better for you.

More Ways to Grow Your Business on Mainstack

From collecting payments in NGN to simplifying verification and expanding the tools available to creators, these updates show our continued effort to make Mainstack more useful for the creators like you who are building businesses on it.

Whether you're selling digital products, running a community, or managing business payments, we're working to make it easier to get started and keep growing.