Nigerian fintech company Paystack has announced the expansion of its Virtual Terminal to Côte d’Ivoire, Ghana, Kenya, and South Africa. This innovation allows merchants in these countries to generate unique QR codes for their employees, such as cashiers, delivery riders, and sales agents. Customers can then scan these QR codes and pay using various options provided by Paystack, including mobile money, cards, and Apple Pay.

Upon successful payment, the staff member receives instant confirmation via WhatsApp. Additionally, merchants can disable the QR code at any time, change the linked WhatsApp number, and set up notifications for multiple WhatsApp numbers.

This new development eliminates the need for multiple physical POS devices, reducing operational burdens and costs. Merchants can create as many QR codes as needed and assign them to their sales agents directly from the Paystack Dashboard, streamlining the process of managing in-person payments.

The Virtual Terminal, initially launched in Nigeria in 2021, allows businesses such as retail stores, restaurants, and pay-on-delivery services to accept in-person payments without incurring hardware costs. It simplifies the payment process by integrating Paystack’s seamless online checkout experience into physical locations and providing real-time payment notifications.

Paystack’s Virtual Terminal offers several benefits, including international payments, split payments, easy end-of-day accounting, and the ability to track payments via phone. In each country, the Virtual Terminal provides a variety of region-optimized payment methods. In Côte d’Ivoire, these include MTN MoMo, Wave, Orange Money, Visa, Mastercard, and Apple Pay. Ghanaian merchants can utilize MTN MoMo, Telecel Cash, AirtelTigo Money, Visa, Mastercard, and Apple Pay. In Kenya, the available methods are M-PESA, Visa, Mastercard, American Express, and Apple Pay. South African customers can pay via Scan to Pay, SnapScan, EFT, Visa, Mastercard, American Express, and Apple Pay.

In April 2022, Paystack, which is owned by Stripe, obtained a switching and processing license from the Central Bank of Nigeria. This license allows the company to directly route financial transactions between financial institutions, further enhancing its capability to facilitate seamless transactions across multiple regions.

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