Nigerian Fintech Paystack Launches Virtual Terminal Payment Feature in Ghana, Kenya, Côte d’Ivoire, And South Africa
Paystack, a Nigerian fintech company known for its payment processing services, has launched its virtual terminal payment feature in Ghana, Kenya, Côte d’Ivoire, and South Africa. This innovative solution is designed to enhance payment efficiency and convenience for businesses in these regions.
The Paystack Virtual Terminal is a hardware-free solution tailored for businesses that handle in-person payments, such as retail stores, restaurants, and pay-on-delivery services. It integrates Paystack’s seamless online checkout experience into physical locations, providing real-time payment notifications for each transaction.
With the virtual terminal, merchants can generate unique QR codes for customer-facing staff, such as cashiers, delivery riders, or sales agents. Customers can scan these QR codes and choose from multiple payment channels, including Mobile Money, Cards, and Apple Pay. Upon successful payment, staff members receive instant confirmations via WhatsApp, allowing for a smooth and efficient transaction process.
Payment Methods by Country
- Côte d’Ivoire: MTN MoMo, Wave, Orange Money, Visa, Mastercard, Apple Pay
- Ghana: MTN MoMo, Telecel Cash (formerly Vodafone Cash), AirtelTigo Money, Visa, Mastercard, Apple Pay
- Kenya: M-PESA, Visa, Mastercard, American Express, Apple Pay
- South Africa: Scan to Pay, SnapScan, EFT, Visa, Mastercard, American Express, Apple Pay
Benefits for Businesses
Increased Accessibility: The virtual terminal eliminates the need for physical POS hardware, allowing businesses to accept payments in various settings, including pop-up shops, markets, and remote locations.
Cost-Effective: By reducing the costs associated with traditional POS equipment, the virtual terminal offers a more economical solution for businesses.
Enhanced Customer Experience: Customers enjoy a quick and convenient payment process, improving their overall satisfaction. Each virtual terminal account includes a beautifully designed, auto-generated poster that can be printed from the Paystack dashboard to inform customers about the available payment methods.
Launched in October 2023, Paystack’s virtual terminal aims to expand the company’s presence in offline payments and accelerate the growth of its “pay with bank transfer” feature.
The introduction of the virtual terminal in Ghana, Kenya, South Africa, and Côte d’Ivoire represents a significant advancement in the payment landscape of these countries. By providing a versatile and secure payment solution, Paystack is playing a crucial role in the growth and development of the digital economy across Africa.
