One of the challenging things most people face when trying to scale their business online is how to collect payment from their customers.
If you are going to be selling online you need a payment gateway that will allow you to receive money online from people in Nigeria and the world at large.
In this post, I’m going to be sharing with you about a top payment solution company that helps businesses in Nigeria and in West Africa at large to receive payment both in Naira or US Dollar, from their customers online.
Permit me to introduce to you:
Paystack is a holistic payments solution for small, medium and large scale businesses of every type, it helps businesses in Africa to get paid by anyone and anywhere in the world.
Paystack allows you to give your customers the comfort and modern payments process, with easy, simple and one-time integration you will be given your customers different convenient ways to pay you.
Here are some payment options available on paystack
- Bank Account
- Bank Transfer
- Visa QR
- Mobile Money
Benefits of paystack to your online business
Here some important benefits of using paystack to collect payment from your customers:
High transaction success rates in the market
When it comes to collecting payment through different options online one of the challenges businesses experience is high rate of transactions failure.
First people are still sceptical about transacting online, however, those customers that are informed enough about online shopping are less likely to initiate a second transaction if their first attempt failed, they likely don’t want to get involved in bank resettlement issues.
Paystack boost of high transaction success rates in the market, what this means is when your customers are paying you through the paystack payment gateway there is a high chance that the payment will go through.
Protection for fraudulent transactions
They also have fraud systems that protect you from fraudulent transactions and associated chargeback claims.
There are people who perform fraudulent acts like claiming that they have paid money into your account why they have not, they go as far as forging fake receipt, paystack has a fraud system that protects you from such claims.
What you can do with paystack as a business owner
Paystack allows you to…
– Collect one-time and recurring payments from your app or website
– Retrieve all your transactions and customer’s data from your paystack account.
– Access detailed reporting, alerts, and exports, so you can be on top of business.
– Verify the identity of customers
– There is also flat-rate pricing offer for accredited educational institutions.
– Automatically receive your money in your bank account the next working day (T+1), that is payments received on Monday, for example, will be settled on Tuesday.
– Support team to resolve issues as quickly as possible.
-Paystack also offers volume discounts for huge amount of transactions.
Transaction Charges on paystack payment gateway
For Local Transactions:
- 1.5% + NGN 100
- ₦100 fee waived for transactions under ₦2500
- Local transactions fees are capped at ₦2000, meaning that’s the absolute maximum you’ll ever pay in fees per transaction
For International Transactions, you will get charged:
- 3.9% + NGN 100
You can receive payment from your customers from all over the world
International cards are charged and settled in Naira by default, but you can also choose to get settled in USD and you can get settled in USD in GTB and Zenith Bank domiciliary accounts.
Pay with Bank features for Nigerian Business owners
There are different payment options on the paystack payment gateway for people all over the world, but one peculiar option for Nigerian Business owner is the “Pay With Bank” option
If you are running a business in a country like Nigeria where trust issues are at the high side you will really appreciate the pay with Bank option on paystack
Paystack offers business in Nigeria the ability to receive payment from their customers through the bank payment method.
Currently, there are six banks that are supported on the Pay with Bank channel, if your customers have any of this bank they will be able to pay you through their bank.
- First Bank of Nigeria
- Guaranty Trust Bank
- Sterling Bank
- United Bank for Africa
- Zenith Bank
And Newly introduced:
- Kuda Bank
All these features and access comes with:
-No hidden fees or charges
-No handling charges
-Zero integration fee
-Zero maintenance fee
-It’s 100% free to integrate Paystack!
How to use Paystack as a business owner
Like i mentioned earlier to receive payment from your customers online is essential, to use paystack for this it’s simple:
You can create a free account on paystack official website or Mobile App
While completing the account creation process you may be required to provide your back details including BVN and also perform “know your customers’ validation process.”
Once your account is up you can create a sub-account for either personal or business transactions from which you can create payment gateway for your offer
Once your payment gateway is created you can send your customers a link to it through SMS or you can use other web integrations available.
You can click here to create a free Paystck account to collect payments online