BusinessDay
NigeriaDecides2023

Explainer: What to know about Paystack Terminal

On November 30, 2022, Paystack parent company Stripe officially announced its Paystack Terminal, a Point-of-Sale (PoS) solution that helps modern African businesses create custom, delightful in-person payment experiences for their users.

According to the company, Terminal integrates seamlessly with your business operations, collects payment however customers choose to pay you, and is infinitely customisable to fit unique business needs.

However, customers can carry out transactions using domestic cards such as Mastercard, Visa, and Verve. Apart from cards it also accepts Unstructured Supplementary Service Data (USSD) payments from Guaranty Trust Bank, Zenith Bank, and Sterling Bank, and payment via bank transfers.

Here are the features of Terminal

Receiving payment through multiple channels- Most POS devices accept only card payments. But with Terminal, customers can pay you via card, bank transfers, and USSD.

Easy end-of-day accounting- When many businesses close for the day, they print out a long list of all their POS transactions, and painstakingly check each sale against the money in their bank account. With Paystack, even if you run multiple stores and also accept payments online, you can connect all your Terminals and reconcile your books in only a few clicks.

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Track all payments from your phone- Terminal is part of the Paystack ecosystem, so if you accept payments both online and in-person (even across multiple stores), you can easily monitor all your payments and reconcile your accounts in one central place on the Paystack Dashboard.

Blazing fast connection- Terminal card readers come with both wifi connectivity as well as a global SIM card. This allows your device to automatically switch to the data signal with the strongest network connection.

Split payments- If you run a company that has several lines of business, Paystack allows you to receive payment and automatically pay different amounts into separate business bank accounts.

Compared to other PoS machines such as Flutterwae, Opay, and Paga. Paystack Terminal can be gotten within the range of N85,000- N100,000.