Paystack POS Charges 2023 — Latest Rates

Paystack POS Charges 2023 — Latest Rates

Paystack is a business organization that operates in Nigeria with the aim of helping businesses to become profitable by making it easy for businesses to accept secure payments from multiple local and global payment channels. It introduced its terminals in 2022 and has since enjoyed a wide range of acceptability. 

Paystack POS or terminal allows for a lot of transactions using local cards such as Master Card, Verve, and Visa cards. It also permits payments and transfers through USSD codes from banks like Zenith, Sterling, and Guaranty Trust Bank. 

Amongst other things, Paystack allows customers to link their multiple terminals together for easy accounting and also helps to easily track payment for customers.

Want to learn more about Paystack POS? Welcome! I will be walking you through some of the vital information about Paystack POS charges, Follow me!

About PayStack POS Machine & Charges

Paystack POS machines are available in Nigeria. However, unlike other terminal operators, Paystack POS or terminals can only be registered and used by businesses that are operative and registered with PayStack.

Interestingly, Paystack has two kinds of terminals. First, is the test terminal that is used by developers to test their custom terminal apps or integrations to ensure that they are working properly before going live and receiving payments from their customers. This terminal cost the sum of N85,000 naira each.

Secondly, they have the Live terminal which is used for processing real payments. It has two price lists if you want to acquire this terminal. You can either make an outright payment of N100,000 naira or an installment payment of N17,000 naira per month for six months. 

Paystack POS Withdrawal Charges

Paystack POS charges 1.5% of every successful transaction you make. What this means is that irrespective of the amount you wish to withdraw, a flat rate of 1.5% will be charged.

Paystack POS Transaction Charges

Generally, Paystack POS charges 1.5% irrespective of the nature of the transaction you make.  

Paystack POS Deposit Charges

As I said earlier, unlike the case with other POS or terminals, Paystack charges are unilateral. This means that for deposits also, 1.5% of whatever amount you wish to transact will be charged.

Read also: The Complete List of POS Charges In Nigeria – Swiftbills

Quick Comparison Table: Top Paystack POS Machine Charges

WithdrawalDepositsTransfers
Paystack1.5%1.5%1.5%
Moniepoint0.5%N20 nairaN20 naira
Opay0.5%N10 naira10 naira
Kudi0.6%0.7%0.6%

Conclusion

Paystack is an organization interested in helping businesses to accept secure payments from multiple local and global payment channels, as well as become profitable ventures.

It launched its terminal in 2022 that allows for easy transactions locally and globally for businesses registered with Paystack. Unlike other terminals, it is important to note that Paystack terminal or POS can be operated only by businesses registered with Paystack.

Read also: How to Convert Data To Cash (Money) In Nigeria – Swiftbills

FAQs on Paystack POS Machine & Charges

How much is Paystack POS price?

Paystack has two different kinds of POS. The test terminal costs N85,000 while the Live Terminal costs N100,000 naira for outright payment and N17,000 naira installment payment for six months.

What requirements do I need to get a Paystack POS or Terminal?

In order to be able to acquire and operate a Paystack terminal, you must be a business that has been registered with Paystack. What this means is that, if you don’t have a business registered with Paystack or any business in the first place, you cannot get or operate the Paystack POS.

Is Paystack POS licensed by CBN?

Yes! Paystack has been duly licensed by the Central Bank of Nigeria. 


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