January 19, 2021 All Things Fintech in Africa

PayStack Introduces USD Payouts into Zenith Banks  



 PayStack introduced USD settlements which allow Paystack merchants to list their goods in USD, get paid and settled in USD in 2018. But now you have your USD payouts settled into Zenith Bank accounts, in addition GTB accounts.

What’s USD

USD simply stands for United State Dollar. It is the currency code for money widely accepted in United States of America.  The circulating paper money which consists of Federal Reserve Notes is denominated in United States Dollars.

How Paystack USD settlements works?

The paystack’s USD feature is available to Zenith Bank account holders.  Before you can access this feature, you are to have a Zenith Bank Domiciliary Account. The domiciliary account gives you the opportunity to conveniently carry out foreign transactions anywhere or anytime.  So to get settled in USD, you’ll need to add a USD settlement bank account to your business on Paystack.

  • Log into your Paystack Dashboard
  • Click on the settings
  • Click on the Bank Accounts tab.
  • If your business does not have an international payment enabled, you will have to request for international payment.
  • Hence, when the international payments are enabled,  go back to the Bank’s Accounts tab. On the row for USD bank accounts, you can select Zenith bank from the other bank account options and add your USD domiciliary Zenith Bank account number.


What Paystack’s International Settlement Payments does?


Paystack USD settlement allows you to receive payments from international cards in various international currencies:

  • Paystack USD settlement can only be settled in a Guaranty Trust Bank or Zenith Bank account.
  • The payments are however made into your account after 7 working days of settlement.
  • Payments can be reversed and deducted from your bank account. If it in cases of fraudulent transaction is being detected.


Related Posts

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...

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...

M-Naria’s Three Cool Features you had no Idea about

April 30, 2019

April 30, 2019

  M-naira is the new way of making transfers across countries. Before now, if one wanted to send money from...

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...

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...

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...

Using Blockchain to Enable Faster Cross Border Remittance

May 10, 2019

May 10, 2019

Using Blockchain to Enable Faster Cross Border Remittance Blockchain derived its name from how it works and the way it...

ZaZu Launches MasterCard Prepaid Cards Linked to Mobile Wallet

December 11, 2019

December 11, 2019

Zazu, a  Zambian Fintech startup Zazu has partnered with Mastercard  to issue prepaid cards linked  to its mobile wallet. Zazu...

MOMO, the mobile money service, launched by MTN

September 5, 2019

September 5, 2019 2

On September 29th, 2019, MTN launched its mobile money business MoMo, in Hilton Abuja, Nigeria. The mobile money will allow...

World Remit: A FinTech Startup Revolutionizing Money Transfer and Remittance  

April 17, 2019

April 17, 2019 1

Table Of ContentsIntroduction: What’s USDHow Paystack USD settlements works?What Paystack’s International Settlement Payments does?World Remit, in short, is money transfer...

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...

Eyowo Launches a Retail Banking Tool

December 2, 2019

December 2, 2019

Eyowo, a digital bank, with the  aim  to encourage financial inclusion among every Nigerian by making banking as easy as...

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...

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...

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.