Online retailers in Nigeria, who are estimated to be in their tens of thousands, should be a happy lot after Paystack launched a new online payment solutions for Shopify merchants. Paystack, based in both Lagos and San Francisco, is an African techstartup and an alumnus of the Y-Combinator. This development is important to Shopify, as it seeks to extend its market base across more African countries, and Nigeria in particular present a fast growing big economy.
Shopify is a global leader in commerce and provides software tools for online retailers including storefronts, payment processing, and checkout apps. Moving into the Nigerian market, Africa’s most populous country and biggest economy, the ecommerce giant required a payment gateway capable of onboarding Nigerian merchants instantly, allowing merchants to receive payments from customers using local and international payment methods.
Nigeria’s online payments world is notoriously fragmented. Paystack is the go-to, indispensable layer connecting merchants to payment options, and is completely platform agnostic; shoppers can use virtually any payment method, including Mastercard, Visa, Verve or direct pay from their bank accounts. The Paystack engineering team …read more