Shopify provides software tools for online retailers including storefronts, payment processing, and checkout apps, and Paystack's payment gateway is capable of onboarding Nigerian merchants instantly, allowing merchants to receive payments from customers using local and international payment methods.
Nigeria’s online payments world is notoriously fragmented, but Paystack cuts through this by being completely platform-agnostic – shoppers can use virtually any payment method, including Mastercard, Visa, Verve or direct pay from their bank accounts.
The Paystack engineering team built an integration for Shopify merchants tailored for Nigeria’s mobile-first economy, meaning that Nigerian merchants will now be able to accept all payment methods from anyone, anywhere in the world.
Paystack’s mission is to transform and overhaul the interaction between business and consumers, and to build a payments product for Africa to act as a catalyst for the continent’s online economy.
“Working with Shopify to enable them to navigate the splintered world that is Nigerian fintech and online payments has been a brilliant experience for our team", Paystack Co-founder and CTO Ezra Olubi says. "We’ve long admired Shopify as an online merchant giant - their unique offering, global reach, product range and their ability to power a whole generation of online sellers is remarkable.
The first step for unlocking the continent’s e-commerce potential is to develop a safe, reliable payments infrastructure that is trusted by both merchants and customers.
“We’re thrilled with the opportunity in Nigeria and Paystack’s launch will further allow merchants in the area to benefit from Shopify,” said Joel Bronkowski, Strategic Partnerships, EMEA at Shopify.
“Shopify’s partner program aims to create opportunities for developers, designers and consultants looking to help local businesses sell online. Along with recently signing our first experts in Nigeria, Ringier and CK Digital, we’re excited to partner with the next wave of African businesses to grow the e-commerce landscape in this region.”
Nigerian businesses collected over US$150 billion last year, most of which was done offline. However, the digital economy on the continent is growing fast and Nigeria alone currently sees 6 million new Internet users annually. As mobile adoption continues at a torrid pace, with 400 million more smartphone connections by 2020 expected, the continent will need a reliable payments platform to support growth in online transactions.