Nigerian Fintech Startup, Paystack, Launches Toolkit To Help Users Sell Online

July 3, 2020
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Nigerian fintech startup Paystack has launched Paystack Commerce, a toolkit that helps African creators to sell their products online.

Launched in 2015, Paystack allows merchants to receive live, platform-agnostic payments, and allows for recurring billing.

The startup, which raised a US$8 million Series A funding round almost two years ago, is now expanding its offering into the e-commerce space with the launch of Paystack Commerce. The new toolkit includes a new product called Product Links, which provides a simple way for social media merchants to sell online, as well as the new Paystack Merchant App, which helps merchants track payments and manage orders.

“We’ve always had a number of seller tools on the Paystack Dashboard. Thousands of creators use our Payment Pages, Invoices, and Subscriptions features every month to power sales.

But in 2019, we started to wonder – what would happen if we significantly increased investment in our seller tools, on the same level as our other product lines? This kicked off a company-wide effort to deepen our understanding of the needs of our commerce merchants,” said Emmanuel Quartey, head of growth at Paystack.

That effort has resulted in the launch of Paystack Commerce, with the company saying it will maintain a transparent public product roadmap of the initiative. It intends to work closely with its merchant community to collaboratively design and build the selling tools that solve their specific pain-points.

The number of business owners signing up weekly to use Paystack to collect online payments has tripled in the last two months, the company said. Meanwhile, it has also launched a direct integration with Wix.com, one of the world’s most popular website builder and commerce platforms.

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