YallaWallet is the payments and balance accrual system that YallaBid users to securely accept payments from sellers and from buyers on behalf of sellers.
When a buyer wins an auction or buys an item on YallaBid, the buyer will checkout and pay, using a credit card, facilitated by YallaBid. YallaBid receives these funds from the buyer and holds these funds for safe keeping until there is certainty that the seller has sent the items to the buyer.
Once approved, the funds are released to the sellers YallaWallet and sellers can now make a Payout Request. To make a Payout Request a seller has to ensure they're bank details are filled in and that they have more than AED10 to withdraw.