Paystack is a payment solution that makes transactions easier and fraud-free. It is used to accept payments in different forms depending on the choice of the payee.
Paystack is one of the growth agents in the fintech ecosystem in Nigeria and beyond, its constantly innovative actions have helped it stay at the forefront in the fintech ecosystem.
Paystack at its inception did not provide the transfer option or USSD code option for payments but now it has both embedded in its paying option.
Paystack currently accepts payments through cards, bank, bank transfers, Mobile money, USSD and QR.
Paystack is modeled in a way that it can be used by a lot of organizations as their payment acceptance system.
Ridesharing apps, Lending app, Video subscription, Online marketplace and companies can also use Paystack to accept payment for any services rendered.
How To Use Paystack in Nigeria
Using Paystack for transaction demands you set up your account first with Paystack.
Setting up an account is done in these two ways:
1. On the signup page, fill in your email, business name, country and password you want your account to be protected with and click create my account.
2. You are redirected to this page where you input more personal details like first name, last name, phone number, the industry your company operates in among others.
3. When you have completed the form, click on complete setup, which takes you to a dashboard where you can then create the transaction module you want using either an API, SDK or Popup Javascript provided on the platform.
First, you test all the modules you can create. This test phase helps familiarize one with the inner workings of Paystack;
Using the Paystack Popup
This popup allows one to collect customers’ information, initiate transactions, verify the transaction and handle both the call back method and webhook.
You can decide the parameters people who want to pay will fill before they can make payments such as first name, last name, email address among others.
This information filled by the customer can be retrieved as it is stored in a database. These details are used to initiate transactions, then using javascript tie these details to a javascript function that helps bring out the checkout popup.
This checkout popup presents the payment option which is embedded using a script tag, you can select all the payment options you want available when people want to pay you. You can also include the payment for a particular service.
Your account here is still in test mode, you can then start receiving customers’ payment when you activate the account, there are two options for Starter business and a Registered business account. This takes you where you will fill the compliance form.
Compliance form: This form has four mandatory sub-forms you will fill, the profile, contact, owner and account forms.
In the profile form, make sure to fill in very accurate and relatable details as unclear information can lead to delay in setting up the account.
In the account form, you fill every possible contact detail from the physical store location to all social media handles.
You also input your email address, support email and dispute email addresses. You then proceed to fill in your contact as the business owner by clicking the next button.
The next form to fill before activating is the accounts form, select a personal account for starter businesses.
Then, click the save button when you have filled in every required information.
Click the ‘Activate Business’ button on the top right of the page, your payment gateway is launched and you can start receiving payments from customers.
Visit the website to follow these steps in using the payment platform.
About the author
Chibuzor Elizabeth Chijioke a graduate of Abia State University is a Nigerian-based entrepreneur and content writer. She trained as a digital marketer at Innovation Growth Hub. She is committed to teaching people how to apply technology to better their lives and businesses. She spends her leisure reading sci-fi and fantasy novels.
Don’t miss important articles during the week. Subscribe to techbuild.africa weekly digest for updates.
