PayStack – An easy way to receive payments

Comment

Sirmike Thursday, 19 September 2024, 2:00 am

PayStack – An easy way to receive payments

Paystack is a payment solution provider that facilitates online payment through its payment gateway and in-person payment through its Point-of-Sale (PoS) terminal which makes it easy for merchants to accept credit and debit card payments online and at physical retail locations from users or customers.

DOWNLOAD MP3

Paystack was founded in 2015 by Shola Akinlade and Ezra Olubi, and is headquartered in Lagos, Nigeria. The company has since grown to become one of the leading payment providers in Africa, with over 200,000 businesses using its platform.

What Products does PayStack offer?

Paystack offers a variety of products to help businesses accept payments online and offline. These products include:

DOWNLOAD MP3 SONG

Payment Links: A simple way to accept payments online without a website.
Payment Pages: A more customizable way to accept payments online.
Storefront: A full-featured online store that allows you to sell physical and digital products.
Commerce Plugins: Plugins for popular e-commerce platforms like Shopify, WooCommerce, and Magento.
API: A powerful API that allows you to integrate Paystack with your own custom applications.
Paystack Terminal: A physical point-of-sale (POS) terminal that allows you to accept payments in person.
Paystack QR Codes: A way to accept payments by scanning QR codes.
USSD: A way to accept payments using USSD codes.
Bank Transfers: A way to accept payments by bank transfer.

Paystack also offers a variety of features to help businesses manage their payments, such as:

Recurring payments: The ability to set up recurring payments for subscriptions or other recurring charges.
Refunds: The ability to issue refunds to customers.
Reports: The ability to generate reports on your payments.
Webhooks: The ability to receive notifications about payment events.

Paystack is a comprehensive payment solution that can help businesses of all sizes accept payments online and offline. If you’re looking for a reliable and affordable way to accept payments, Paystack is a great option.

ALSO READ: Aza Finance – Control Your Payments, Fx, And Treasury In One Place

Here are some additional details about each of the products offered by Paystack:

Payment Links: Payment Links are a quick and easy way to accept payments online. You can create a Payment Link for any amount and share it with your customers. When a customer clicks on the Payment Link, they will be taken to a secure payment page where they can enter their payment information.
Payment Pages: Payment Pages are a more customizable way to accept payments online. You can use Payment Pages to create a custom checkout experience for your customers. You can also add branding, add custom fields, and collect additional information from your customers.
Storefront: Paystack Storefront is a full-featured online store that allows you to sell physical and digital products. With Storefront, you can create a beautiful and professional-looking online store in minutes. You can also manage your inventory, track your orders, and accept payments from customers all over the world.
Commerce Plugins: Paystack offers a variety of plugins for popular e-commerce platforms like Shopify, WooCommerce, and Magento. These plugins make it easy to integrate Paystack with your e-commerce store and start accepting payments.
API: Paystack’s API is a powerful tool that allows you to integrate Paystack with your own custom applications. With the API, you can accept payments, create refunds, and manage your payments programmatically.
Paystack Terminal: Paystack Terminal is a physical point-of-sale (POS) terminal that allows you to accept payments in person. The terminal is easy to use and accepts payments from a variety of payment methods, including cards, mobile money, and QR codes.
Paystack QR Codes: Paystack QR Codes are a way to accept payments by scanning QR codes. You can create QR Codes for any amount and share them with your customers. When a customer scans the QR Code, they will be taken to a secure payment page where they can enter their payment information.
USSD: Paystack’s USSD integration allows you to accept payments using USSD codes. USSD is a popular way to send and receive money in Africa. With Paystack’s USSD integration, you can accept payments from customers who don’t have a bank account or credit card.
Bank Transfers: Paystack also allows you to accept payments by bank transfer. This is a convenient way for customers to pay you if they don’t have a credit card or don’t want to use a payment processor.

How can I register on PayStack?

Go to the PayStack website and click on the Sign Up button.
Enter your email address and password.
Select your business type.
Enter your business details, such as your name, trading name, and address.
Verify your email address.
Link your bank account.
Activate your account.

Once your account is activated, you can start accepting payments from your customers.

Here are the detailed steps:

Go to the PayStack website: https://paystack.com/.
Click on the Sign Up button.
Enter your email address and password.
Select your business type.
- If you are a sole proprietor, select “Personal.”
- If you have a registered business, select “Registered business.”

Enter your business details, such as your name, trading name, and address.
Verify your email address.
- A verification email will be sent to your email address. Click on the link in the email to verify your account.
Link your bank account.
- PayStack supports bank accounts from all major Nigerian banks.
- To link your bank account, you will need to provide your bank account number, your bank’s name, and your bank’s code.
Activate your account.
- Once you have linked your bank account, you will need to activate your account. To do this, you will need to provide your BVN.

Your PayStack account will be activated within 24 hours. Once your account is activated, you can start accepting payments from your customers.

Here are some additional things to keep in mind when registering on PayStack:

Your account will be in Test Mode by default. This means that you can test your integration and play around with PayStack’s product suite, but you will not be able to receive real money.
To take your account Live and start collecting real money from your customers, you will need to activate your business.
PayStack charges a processing fee of 2.5% per transaction.
PayStack offers a variety of payment methods, including cards, bank transfers, and USSD.

What documents do I need to register on PayStack?

The documents you need to register on Paystack depend on whether you are a Starter Business or a Registered Business.

Starter Businesses only need to submit the following documents:

Bank Verification Number (BVN)
Your Bank Account Number (personal bank accounts are allowed)
Evidence of Identity – this could be:
- the information page of your Passport
- a Driver’s License
- a National ID
- a Nigerian Voter’s Card

Registered Businesses need to submit the following documents:

Tax identification number
Certificate of Registration (issued by the Registrar General’s Department)
Corporate bank account or corporate mobile money account
Proof of address

You can find more information about the documents required to register on Paystack on their website: https://paystack.com/docs/.

Here are the steps on how to register on Paystack:

Go to the Paystack website: https://paystack.com/.
Click on the “Sign Up” button.
Enter your email address and create a password.
Select whether you are a Starter Business or a Registered Business.
Enter the required information and upload the required documents.
Click on the “Submit” button.

Paystack will review your application and you will be notified if your account is approved. Once your account is approved, you can start accepting payments using Paystack.

How safe is PayStack?

Paystack is a very safe platform for making payments online. It is PCI DSS Level 1 certified, which is the highest level of certification possible in the global payments industry. This means that Paystack has undergone a rigorous security audit and has implemented the highest security standards to protect your data.

Here are some of the security features that Paystack has in place:

Card data encryption: Paystack encrypts your card data using AES-256 GCM, which is one of the strongest encryption algorithms available.
Secured connections: All connections to Paystack’s servers are made over HTTPS, which is a secure protocol that encrypts all data sent between your browser and Paystack’s servers.
Fraud detection: Paystack uses a variety of fraud detection tools to protect you from fraudulent transactions.
Physical security: Paystack’s data centers are physically secured to prevent unauthorized access.

In addition to these security features, Paystack is also a reputable company with a good track record. It has been in operation since 2015 and has processed billions of dollars in payments. Paystack is also owned by Stripe, which is a well-known and trusted payment processing company.

Overall, Paystack is a very safe platform for making payments online. It has implemented the highest security standards and has a good track record. You can be confident that your data is safe when you use Paystack.

Here are some additional resources that you may find helpful:

Paystack Security: https://paystack.com/security
PCI DSS: https://www.pcisecuritystandards.org/
Stripe: https://stripe.com/

What is the transaction fee on PayStack?

PayStack’s transaction fees vary depending on the country and payment method. Here is a summary of the fees:

Nigeria: 1.5% + NGN 100 (for local transactions) or 3.9% + NGN 100 (for international transactions).
Ghana: 1.95% + GHS 0.
South Africa: 2.9% + ZAR 1.

There is a transaction cap of NGN 2,000 for local transactions in Nigeria. This means that PayStack will never charge you more than NGN 2,000 for any transaction originating from a Naira Bank account. Also, for transactions under NGN 2,500, PayStack waives the NGN 100 fee.

PayStack does not charge any upfront or monthly fees. You can start accepting payments in 30 minutes for free.

Here is a table summarizing the transaction fees for PayStack:

Country	Transaction Fee
Nigeria	1.5% + NGN 100 (local) or 3.9% + NGN 100 (international)
Ghana	1.95% + GHS 0
South Africa	2.9% + ZAR 1

How can I download the PayStack app?

You can download the PayStack app from the Google Play Store or the App Store. Here are the steps:

On Android:

Open the Google Play Store on your Android device.
Search for “Paystack Merchant”.
Tap on the “Install” button.
Once the app is installed, open it and sign in with your PayStack credentials.

On iOS:

Open the App Store on your iOS device.
Search for “Paystack Merchant”.
Tap on the “Get” button.
Once the app is installed, open it and sign in with your PayStack credentials.

Here are the links to the PayStack app on the Google Play Store and the App Store:

Google Play Store: https://play.google.com/store/apps/details?id=com.paystack.go&hl=en&gl=US
App Store: https://apps.apple.com/ng/app/paystack-merchant/id1481413006

In Conclusion:

downloading the PayStack Merchant app is a convenient way to manage your PayStack account and access all its features on your mobile device. Whether you have an Android or iOS device, you can easily find and install the app from the Google Play Store or the App Store. Once installed, you can sign in with your PayStack credentials and start using the app to accept payments, view transactions, and manage your business finances. Don’t miss out on the benefits of the PayStack Merchant app – download it today and take your business to the next level.