January 24, 2022 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!

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