🚀 Nigerian fintech Paystack is launching virtual terminals to support bank transfers for businesses. These digital terminals aim to streamline payment confirmation and enhance customer checkout experiences, especially in high-volume situations like restaurant payments. The terminals support QR code payments, foreign bank cards, and Apple Pay. Additionally, they can be assigned to sales agents, simplifying transaction monitoring. This move aligns with Paystack's strategy to expand beyond web-only payments, aiming to capture a growing market of consumers who prefer bank transfers. Bank transfers have become increasingly popular in Nigeria, representing 34% of Paystack payments in the country in 2023.
🏦 The Paystack virtual terminals offer an efficient solution for businesses in Nigeria dealing with bank transfers, reducing wait times for payment confirmation and ensuring a smooth customer checkout experience. These terminals support various payment methods, including QR code payments, foreign bank cards, and Apple Pay. Moreover, business owners can assign virtual accounts to sales agents, streamlining transaction monitoring and verification. The launch of virtual terminals aligns with Paystack's strategy to expand beyond web-only payment collection and capture a growing market of consumers in Nigeria who prefer bank transfers.
🌐 Paystack's virtual terminals aim to revolutionize offline payments in Nigeria by offering a more efficient alternative to traditional point-of-sale (POS) devices. In a country where offline payments have seen substantial growth, Paystack's new solution seeks to address the challenges of transaction delays and inefficiencies associated with physical POS devices. By providing a digital alternative that supports various payment methods and streamlines transaction monitoring, Paystack aims to enhance the overall offline payment experience for businesses and consumers.
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