PAYSTACK POS TERMINAL: ALL YOU NEED TO KNOW
PAYSTACK POS TERMINAL: ALL YOU NEED TO KNOW
Paystack POS Terminal
One of the highest-tiered certifications (Switching and Processing License) in the Nigerian fintech environment was in April 2022 granted to Paystack by the Central Bank of Nigeria and this enabled the actualization of the Terminal.
Paystack offers an in-person payment POS terminal. It is an easy and fast way to accept payments from your customers as it accepts payments from multiple channels, including all local cards (verve, visa, and MasterCard), USSD, and bank transfers. It integrates directly with your existing sales channels (inventory and sales management systems).
Most POS out there accept only card payments which makes it difficult for you as a merchant or operator to accept payments via alternate methods but resort to calling a team member outside your store to confirm whether a payment was successful or not.
With the Paystack POS terminal, you have options. Also, you can generate printouts of all transactions in a day. Paystack POS terminal has a lot in store for you. In this article, we will address everything that you need to know about the Paystack POS Terminal.
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Paystack POS Prices in Nigeria
Paystack POS Terminal (Hardware) comes in two forms which are:
- Live P1000.
- Test P1000.
The Live P1000 cost a sum of N100,000 while the Test P1000 cost the sum of N85,000. You have the option of either paying at once and owning the Terminal forever, even if you stop processing with Paystack, or you can pay the sum of N17,000 per month for six months.
From our research on the fees for transactions processed via the terminal, a member of the Paystack support team, Godwin Osayande, revealed the fees charged per transaction vary depending on the amount and method of payment. Below is a table showing the transaction type and the fee charged:
| Transaction Type | Fee Charged | Capped (Limited to) |
| Card Transactions | 0.5% | capped at N1000 |
| USSD Transactions | 1.5% + N100 | Capped at N2,000 N100 waived for transactions under N2,500 |
| Bank Transfers | 1.5% + N100 | Capped at N2,000 N100 waived for transactions under N2,500 |
Let’s do the math,
2000 x 1.5% = 30
If your customer pays you the sum of N2,000, Paystack will settle you, N1,970.00 therefore, the fee charged is N30 waiving the N100 because your customer paid you below N2,500.
Note: The absolute maximum you can ever pay in fees per transaction is N2000.
How to Get Paystack POS in Nigeria
There are two ways to request for Paystack POS. You can request your Live Terminal devices by clicking on the Terminal page of your Paystack Dashboard. For the Test Terminal devices, switch to test mode on your dashboard and visit the Terminal page to buy one or send an email to terminal@paystack.com
Paystack POS Features
- Multiple payment channels:
Most POS devices accept only card payments. Paystack Terminal provides several channels through which your customers can pay. Card (Visa, Verve, Mastercard), USSD (multiple banks), and Bank transfers.
- Easy-end-of-day accounting:
See individual Terminal payments in real-time on the Paystack Dashboard and save countless hours during reconciliation. Quickly reconcile multiple POS devices across multiple stores.
- Split Payments:
For companies with different lines of business, Paystack Terminal allows you to take one payment and automatically pay different amounts into separate bank accounts.
- Integration:
Integrates seamlessly with all of your existing POS systems.
See also: Flutterwave POS: All You Need To Know
Paystack Terminal App
The Paystack Terminal App (Paystack Merchant) is different from the Paystack Go web app. It is completely free to use and it comes at no additional cost.
If you already have a Paystack account simply log into your existing account but if you don’t have an account you can create one in minutes directly from the app and get started collecting payments. The App can be used by everyone in your business no matter the role. The app complements your dashboard as it is not a replacement.
Manage your business on the go using the Merchant App available on Android and iOS. To download, visit, https://paystack.com or https://play.google.com
Paystack Network Reliability
According to Paystack, it has the best transaction success rates in the industry. A bold claim by them says, if a transaction fails, it is highly unlikely it will work anywhere else.
On the rare occasion that a transaction fails, Paystack proactively suggests alternative payment channels to the customer, so they can try paying through a different method. For example, if the customer’s card fails, the Paystack Checkout Form might suggest to the customer to try paying through QR code instead.
Paystack POS Customer Service
Paystack has fantastic support that attends to every problem and has a very fast and secure response system that allows all users to get solutions to their problems and continue working in a safe way.
For assistance, you can kindly reach out to support@paystack.com or call this phone number +234-163-16160 and a member of their team will assist you accordingly. Alternatively, you can visit the Paystack head office at 126 Joel Ogunnaike Street, Ikeja GRA, Lagos, Nigeria.
Read also: Baxi POS Charges and Prices
Get a Paystack POS Today
The Paystack Terminal is one of the best terminals in the industry today. It has a very reliable transaction network, having the ability to receive money from multiple channels. Very easy to use and manage with a strong and responsive customer support system. Sending and receiving money is fast, simple, and secure.
Paystack pricing is simple and fair, there are no hidden fees and it has zero maintenance fee. Highly secured and approved by the Central Bank of Nigeria for businesses in Nigeria. It automatically routes your payments through the most optimal channels, ensuring the highest transaction success rates in the market. I recommend the Paystack POS Terminal for you today.
FAQs About Paystack Terminal POS
How can I get the Paystack POS terminal?
There are two ways to request for Paystack POS. You can request your Live Terminal devices by clicking on the Terminal page of your Paystack Dashboard. For the Test Terminal devices, switch to test mode on your dashboard and visit the Terminal page to buy one or you can send an email to terminal@paystack.com
How long will it take to receive the Paystack POS Terminal device?
You will receive your Terminal device within 7 business days of your purchase.