Paystack Payments Limited – A Quick Review

Paystack Payments Limited Review

Paystack Payments Limited offers an online payment platform that makes it easy for merchants to accept electronic payments from customers.

Paystack collects and processes certain types of information (such as name, telephone numbers, address etc.) of individuals that makes them easily identifiable.

These individuals include current past and prospective employees, merchants, suppliers/vendors, customers, users and other individuals whom Paystack communicates or deals with, jointly and/or severally.

Paystack is firmly committed to complying with applicable data protection laws, regulations, rules, and principles to ensure the security of Personal Information handled by the Company.

Today, Paystack is one of the most popular fintech companies in Nigeria. Interestingly, the western world is developing much faster than the rest of the planet.

The western world sees a lot of technological advancements that were lost on the other parts of the world, though, that gap was bridged in some ways with the advent of the internet.

Then again, a new problem arose – transacting financially, and doing so seamlessly.

Although there are a lot of payment gateways (PayPal, Skrill, Neteller, and others), only a few of them could be used by those on the other end of the seas.

Falling into this category is the launch of Paystack which came to alleviate a lot of those worries for Nigerians.

What Is Paystack Payments Limited?

Paystack Payments Limited is a Nigerian online payments processing startup, co-founded in 2015, which is headquartered in Lagos, Nigeria, with over 100 employees working remotely from across 8 countries.

Paystack is a payments platform that makes the online payments process seamless for both the consumers and the businesses they are trying to pay.

Paystack integrates one of the most secure practices obtainable, leveraging that to give vendors the opportunity to broaden the scope of accepting payments.

As of the time of technology advancements, the platform is becoming a rapidly developing server for acceptance of credit and debit card payments which is not only in the local market but on a global scale.

Who Is The Owner of The Paystack?

When talking about founders of Paystack, the two names that stand out are Shola Akinlade and Ezra Olubi.

Co founders of Paystack payments limited

Interestingly, their story is even more captivating in the sense that they had neither the financial nor institutional backing to start what is now known as Paystack today.

However, setting up a fintech venture has proven to be one of the best things that have not only happened to them but Nigeria and Africa as a whole.

In fact, Paystack has launched Pay with Transfer, a new payment channel that helps to accepts payments via bank transfers from your Niger-based customers.

Customers can pay via a bank transfer by tapping on the Transfer option on the Paystack Checkout.

After that, they generate a Zenith or Providus bank account number to which they can make a bank transfer payment.

Once customers do bank transfer from their banking mobile app, the transaction is automatically approved and the paid amount immediately reflects on the customer’s dashboard like any other Paystack payment.

Related: Kuda bank app review

What Top Brands Use Paystack Payments Limited?

Paystack is not just another payment gateway from the backstreets, It is one of the top companies that have taken their business to the platform too.

Some of the top companies include: Uber, FEDEX, UPS, MTN, Jobberman, Domino’s Pizza, Iroko TV,, PayPorte, Gigalayer and many others.

Over 60,000 businesses and individuals used paystack to collect payments globally.

How Much Does Paystack Charge Per Transaction?

For cards issued by Nigerian banks, Paystack takes a fee of 1.5% and an additional ₦100 on every transaction. However, transactions below ₦2,500, don’t attract the additional ₦100 charge.

For international transactions, the charge is at 3.9%. there is also an additional ₦100 fee every transaction which will not be waived under any circumstances.

Business owners can decide to pay the charges themselves or pass it on to their customers.

In the latter case, all you need do is to calculate 1.5% (plus a ₦100 charge where need be) of whatever amount you are selling is and then add to the final stage.

The payment solution supports numerous channels like debit/credit cards, Bank Account, Bank Transfer, USSD, Mobile Money, and VISA QR.

When the customer pay, Paystack takes its cut and you get the intended price. Payments will be delivered to the merchant’s bank within 24 hours.

Why Choose Paystack?

Did you know that the US payment giant Stripe acquired Paystack company for $200 million? This is a huge result of the company’s efforts over the year.

Paystack is the payment processor of choice for some of the fastest-growing businesses in Nigeria. It is the fastest, simplest way to start accepting online payments in Nigeria.

Paystack payments team

It can be used anywhere in the world with the use of any electronic devices such as a mobile phone, tablet, or computer with basic and simple tools.

This will allow anyone without being a professional to enjoy each of the Paystack services.

Paystack App Download For iPhone and Android

Customers can manage the Paystack business from their phone with the Paystack Merchant App.

The Paystack Merchant App is available on Android and iOS. Customers can visit from their phone to download.

Paystack Requirements

To become a Starter Business on Paystack, the following things are required:

  • Bank Verification Number (BVN)
  • 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 or a Nigerian Voter’s Card.

Is Paystack Payments Limited Secure?

Paystack Payments Limited is 100% secured. It is PCI DSS (Payment Card Industry Data Security Standard) certified.

Paystack systems are audited by a Qualified security Accessor because security is extremely important to the company.

All communication is conducted through HTTPS using TLS 1.2 (Transport Layer Secuirty).

Paystack Contact Information

Paystack Payments Limited can be contacted through email at

Their location in Lagos is at 126 Joel Ogunnaike Street, Ikeja GRA, Ikeja, Lagos, Nigeria.

In South Africa at 45 Kingfisher Dr Fourways Sandton, 2055, South Africa.

In San Francisco at 201 Spear Street, Suite 1100, PMB 3228, San Francisco, CA 94105.

In Ghana at Workshed Africa, 47 Nungua Link Road 2nd Floor, Baatsona, Spintex, Accra, Ghana.




Summary of Paystack Payments Limited

Paystack is a tool used to send and receive payments instantly without any problems.

It helps to generate confidence in the customers to manage their money in their virtual wallet because it has a support that has a good reputation worldwide solving any kind of inconvenience presented.

It also allows each user to manage their money quietly.

Lastly, Paystack payments limited gives you the opportunity to send payments to any part of the world without having to move from one place to another.

This has allowed you to have international business and proposals anywhere in the world, you can carry out your business quickly.

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