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PaystackB67

Payment Processor · Online businesses, SaaS and subscription services registered in Nigeria, Ghana, South Africa or Kenya — or …

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Overview

For a business registered in Nigeria, Ghana, South Africa or Kenya, Paystack is the clearest-priced way to take card, bank-transfer and mobile-money payments online, and the Nigerian fee cap of ₦2,000 makes it markedly cheaper than a percentage-only competitor on large tickets. Stripe's ownership has not turned it into Stripe: this is still a locally licensed aggregator with local settlement rails and local support. Go in understanding what an aggregator is — Paystack underwrites you itself, so it can and does freeze settlements while it reviews an account, and that experience, not pricing, is the substance of nearly every public complaint. It is not an option for a US, UK or European business: Paystack's help desk restricts accounts to businesses registered in its live African markets.

Best for: Online businesses, SaaS and subscription services registered in Nigeria, Ghana, South Africa or Kenya — or in Côte d'Ivoire, where Paystack is in private beta — that want published rates, next-working-day settlement, developer-grade APIs and local payment methods — mobile money, M-PESA, USSD, bank transfer and dedicated virtual accounts — without negotiating a merchant account.

Strengths

  • + Publishes a complete rate card for every market it serves, down to terminal, USSD, virtual-account and transfer fees — a level of disclosure most aggregators in the region do not match.
  • + The Nigerian local fee is capped at ₦2,000 per transaction, so large tickets cost far less than under an uncapped percentage rate, and the ₦100 flat component is waived below ₦2,500.
  • + Settlement is next working day in Nigeria, Ghana and Côte d'Ivoire, with no setup, integration, monthly or maintenance charge and no contract term.
  • + Covers the payment methods that actually matter locally — M-PESA in Kenya, mobile money in Ghana and Côte d'Ivoire, USSD, bank transfer and dedicated virtual accounts in Nigeria — rather than cards alone.
  • + Owned by Stripe since October 2020 and, since January 2026, sitting under The Stack Group alongside a licensed microfinance bank, which gives it more balance-sheet and regulatory depth than a typical regional gateway.

Trade-offs

  • – Held and delayed settlements dominate its public review record: Paystack's Trustpilot page stands at 1.5 out of 5 across 246 reviews as of September 2026, with the recurring complaint being funds held for weeks with little explanation.
  • – As an aggregator Paystack underwrites merchants itself, so it can suspend an account and withhold settlement unilaterally — there is no separate acquiring bank relationship to fall back on.
  • – Only available to businesses registered in its African markets — Nigeria, Ghana, South Africa and Kenya, with Côte d'Ivoire in private beta; a US, UK or EU company cannot use it.
  • – International card rates are high and uncapped — 3.9% + ₦100 in Nigeria, 4.5% + ₦100 on the terminal — which hurts any business selling mainly to overseas customers.
  • – The Central Bank of Nigeria fined the company ₦250 million in April 2025 over its Zap product operating outside the terms of its switching and processing licence.

Fees in detail

  • Online rate: Published per market as of September 2026. Nigeria: 1.5% + ₦100 on local transactions, with the ₦100 waived below ₦2,500 and the total fee c
  • International: Nigeria 3.9% + ₦100, charged and settled in naira by default with a USD settlement pilot through Zenith Bank domiciliary accounts; South Afr
  • Disputes: Paystack does not publish a chargeback fee; disputes are handled in the dashboard with automated chargeback alerts

Standard published rate for a domestic online card payment. Confirm current pricing on Paystack's pricing page.

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