July 12, 2020 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 

Banner
Related Posts

PayPal Becomes the First Foreign Company to Secure Chinese Payments License

November 27, 2019

November 27, 2019

  Paypal earns a Chinese Payment License after it gains a 70% stake in Guofbao Information Technology Co (Go Pay)....

Opay Expands as it launches tricycle hailing service, OTrike in Nigeria

August 25, 2019

August 25, 2019 1

  Introduction The opera company, the Chinese-backed startup is giving other fin tech startups a clear run for their money...

TeamApt Secures Highest Level of License Awarded to any Fintech by Nigeria’s CBN

April 19, 2019

April 19, 2019

Table Of ContentsTeamApt Secures Highest Level of License Awarded to any Fintech by Nigeria’s CBNTeamApt Secures Highest Level of License...

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...

SafriCom has partnered with Ria Money Transfer to Improve International Money Transfers through M-Pesa

January 31, 2020

January 31, 2020

Safaricom has partnered with Ria Money Transfer, to empower more than 26 million M-PESA customers to receive international money transfers...

WorldRemit Goes to a Partnership with AliPay

February 1, 2020

February 1, 2020

WorldRemit Goes to a Partnership with AliPay On January 22, Alipay entered a new partnership with  WorldRemit, a online remittances...

Nigeria’s Paga Acquires Apposit

February 1, 2020

February 1, 2020

Paga is a multi-channel platform for users to transfer money, pay-bills, and buy things digitally. The company has 14 million...

ORide; Nigeria’s Bike hailing Service launched by OPay

June 6, 2019

June 6, 2019 1

ORide, a bike-hailing app launched under the hub of OPay intends to make going around Lagos easier. On the average...

FlutterWave  yet again secures a $35 million series round and a Partnership with WorldPay

January 24, 2020

January 24, 2020

  FlutterWave, a San Francisco and Lagos-based fintech startup has secured a $35 million Series  B round  and a partnership...

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...

Ghana Launch a Contactless Payment System Curb the Spread of COVID

March 30, 2020

March 30, 2020

  The Vice President of Ghana, Dr. Mahamudu Bawumia has launched a contactless payment system to encourage the adoption of...

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...

How To Make Interswitch Payments Using Your Mobile Phone

April 16, 2019

April 16, 2019

How To Make Interswitch Payments Using Your Mobile PhoneMaking payments using your mobile phone can be a real headache. Trust me, I know. From USSD codes to apps and even websites, everything misbehaves at one point or the other.

PayStack Introduces USD Payouts into Zenith Banks  

December 11, 2019

December 11, 2019 1

Table Of ContentsTeamApt Secures Highest Level of License Awarded to any Fintech by Nigeria’s CBNIntroduction: What’s USDHow Paystack USD settlements...

Top 10 Interesting facts about Interswitch Nigeria

April 11, 2019

April 11, 2019 1

Top 10 Interesting facts about Interswitch Nigeria Today many payment processing companies exist, but Interswitch Nigeria has made an incredible...

Comments

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.