January 26, 2021 All Things Fintech in Africa

6 Facts About Paystack Nigeria You Never Knew Before

6 Facts About Paystack  Nigeria You Never Knew Before

As the new kid on the block when it comes to payment processing especially online payment processing, Paystack  Nigeria has become the “go-to” guys for this kind of service.

It has driven electronic commerce within the borders of Nigeria at a frenetic pace and is truly one of the unique tech success stories.

Below are facts you may have guessed but never knew about the company and the services offered.

They were founded in 2015

Founded by Ezra Olubi and Shola Akinlade in 2015, Paystack was intended to make payments easier for all Nigerians.

Needless to say, they have been able to make this happen in a short space of time!

Within the space of four short years the company has grown to have major brands such as Uber, Taxify , branch and a whole host of many others on their  platform.

The technology which powers their payment systems has shown the kind of redundancy that other systems don’t have.

You can start accepting payments without registering a business

Most people don’t know this but you can actually start registering a business on the platform without actually having all your corporate documents in place.

This doesn’t mean that you don’t have to verify your identity and fulfil the other Know-Your-Customer policies and procedures.

There is a catch to the acceptance though. There exists a limit of funds you can actually receive on the platform.

The limit is two million naira and the product is called Paystack starter business.

So, what are you waiting for, start your online business today!

Paystack  Accepts International Payments

Again, this relatively unknown fact about the organization is what makes the company to be so unique. Most payment processing organizations don’t accept international payments from other countries.

Guess what? Paystack does!

Though the charges are a little higher than the normal charges for banks within Nigeria, they are relatively okay considering the fact that anyone can pay you in other currencies!

Note that you will be settled in Naira though.

Their Customer Support is 24-7

Now we all know how customer support works in Nigeria. After midnight everything shuts down. It’s different from Paystack.

Their customer support is always on every time. And that alone endears them to their many customers!

The friendly nature of the support staff makes it easy for people to work with them.

They settle all payments within twenty-four hours max!

Some other payment processors take days to settle payments made to their merchants’ accounts but Paystack is different in this regard. They settle all merchants within twenty-four hours. This rule has enabled them to be able to bring in a huge influx of customers and has given them their competitive edge.

They integrate wit just about any shopping cart interface

Paystack integrates with the most popular shopping cart interfaces in the World. From prestashop to woocommerce, megento and many others, Paystack has all the gateways you will ever need. What’s more the gateways come with all the required documentation so it becomes easy to do what you want!

Their application programming interface is easy to use and integrate with the most popular payment gateways online.

With the rise of new businesses and internet inclusion, it is certain that businesses such as Paystack will be needed now and in the future.

Paystack  is one business to watch out for and maybe one day they shall go public.

Surely, their shares will be a must buy if that happens!

Are there other facts about Paystack that you know about?

Please feel free to share!

World Remit: A FinTech Startup Revolutionizing Money Transfer and Remittance 

Related Posts

Paga, Nigeria’s Mobile Money Operator Crosses 1.5 Trillion Naira in Transaction

August 12, 2019

August 12, 2019 1

Paga, Nigeria’s Mobile Money Operator Crosses 1.5 Trillion Naira in Transaction Value Earlier today, the CEO of Paga, Nigeria’s foremost...

PayLink.ng, a new e-payment product launched by System Specs

March 18, 2020

March 18, 2020

Paylink.ng is a payment solution that allows users to receive money instantly into their bank account from anyone, anywhere and...

Chipper -Cash Expands to Nigeria

October 22, 2019

October 22, 2019

  Introduction:  Chipper-cash, the n0-fee, cross border payment startup has expanded to Nigeria.  It is based in San Francisco, with...

Hollaport Launches in Lagos, Announces its Plan to Deepen Financial Inclusion

July 12, 2019

July 12, 2019

Kabiru Rabiu of BUA Group Launches Hollaport App Kabiru Rabiu, Group Executive Director of Bua Group, a leading Nigerian conglomerate...

Verifyme Secures a Series A Funding from Consonance Investment Manager

January 31, 2020

January 31, 2020

VerifyMe Nigeria, an ID verification and KYC technology company,  has secured a Series A financing for an undisclosed amount from...

GONA Raises Multi-Million Dollar Investment in Nigeria

August 19, 2019

August 19, 2019

What’s GONA? Gona is a payment platform that enables seamless and cashless payment in public buses. The problem Gona is...

Carbon, formerly Paylater now charges One Percent Transaction fee.

August 25, 2019

August 25, 2019 1

  Introduction Carbon, the lending platform formerly known as paylater started an app which not only allows one to borrow...

Konga Pay : Features you never knew  about and How it Works.

May 7, 2019

May 7, 2019

Konga Pay is a pilot product launched by Konga.com in 2015 for online shoppers.  Shopping on Konga was made easier...

Uber Launches a Financial Product Known as Uber Money

November 28, 2019

November 28, 2019

  Uber, the ride company has announced a new expansion into a financial product which includes a digital wallet and...

Zazu Raises $1.4m in an attempt to expand their user base

December 11, 2019

December 11, 2019 1

  Zazu fully started as a digital banking space in 2107.  Previously, Zazu was a platform where farms could connect...

PesaLink, Kenya’s Payment System

October 28, 2019

October 28, 2019

  What is PesaLink? Pesalink is a payment system launched by the Kenya Bankers Association (KBA). This is a digital...

Paypal Launches Xoom in the African market

August 25, 2019

August 25, 2019

  PayPal in 2015 brought xoom, a money transfer company which now serves 33 African countries from about 30 European...

PalmPay raises $40m from TECNO mobile, will be preinstalled on 20m phones in 2020

November 14, 2019

November 14, 2019

PalmPay raises $40m from TECNO mobile, will be preinstalled on 20m phones in 2020 Nigeria is one of the countries...

Five Online Payment Platforms in Nigeria and How to Use Them

April 5, 2019

April 5, 2019 3

I would be writing on Five Online Payment Platforms in Nigeria and How to use them to make transactions on...

FlutterWave Partner with AliPay to Foster Payments between Africa and China

August 7, 2019

August 7, 2019 1

FlutterWave, a Lagos-based fintech, has partnered with AliPay, a Chinese e-payment solution to foster digital payments between Africa and China....


Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.