Paystack has launched a new payment terminal, that will allow customers to pay via card, bank transfers, and USSD – providing a simple and more comfortable way for customers to continue offline transactions during downtimes.
In 2018, Paystack ran a limited pilot of its PoS terminal and started issuing Point of Sale (PoS) machines to their merchants indirectly as they were not licensed to acquire PoS machines on behalf of their merchants at the time. This was, however, shortlived as Paystack suddenly recalled their PoS machines in circulation due to issues raised by the Payments Terminal Service Providers (PTSPs) about unfair practices by the company.
The bank has now launched its own PoS payment terminal that supports payments from Nigeria-issued cards (Visa, Mastercard, Verve), Nigeria USSD codes, and bank transfers to and from Nigerian bank accounts. The terminal will offer users a host of use cases, allowing them to track payments, monitor changing purchase patterns, and update the design and content of customers’ receipts to reinforce the brand.
The terminal will also allow for customizations and integrations for businesses, users will be able to build custom apps using supported API documentation. They'd also be able to connect the terminal to existing systems and create automation for their businesses.
Although the terminal option is only available to registered merchants in Nigeria, the company says it intends to bring the terminal to other markets soon.