Paystack is introducing Paystack Commerce, a seller toolkit for African brands and creators to ease the sell of products online.
The new feature comes months after launching “Transaction Lookup”, a blockchain-like transaction record database for accessing transaction records on Paystack.
PayStack is one of the largest digital payment processing companies in Nigeria and Africa.
Paystack Commerce will allow African brands and creators, utilize the service to list and sell their products and collect payments from their customers online.
Through the Paystack Dashboard, payments, invoices, and monthly or periodic subscription features can be set up by creators for their customers, powering sales.
Paystack has some recent partners from the cryptocurrency payment space, both with crypto exchanges and blockchain firms, utilizing its payment gateway, in order to process fiat transactions.
The payment processing company has said that PayStack Commerce will allow a variety of payment methods. It’s yet to be confirmed if crypto payments will be allowed in the future.
But then, considering its partnerships with crypto exchanges and crypto service providers like Naijacrypto, Luno, Terrabit and others, we may see Paystack integrating crypto gateway in the future.
Currently, Paystack charges are as follows:
1.5% + 100 NGN for local transactions
3.9% + 100 NGN for international transactions
In addition, the 100 NGN fee is waived for transactions under 2,000 NGN
With the Paystack Commerce launch, we might see a new wave of ecommerce in Nigeria where creators and sellers can utilize the toolkit to sell and collect payment through different modes.
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