Paystack, the Stripe-owned Nigerian fintech, has integrated a payment option enabling merchants to accept payments directly from OPay accounts.
Introducing the “Pay with Opay” feature on its X handle, the fintech said,
“Nigeria’s most downloaded fintech app, is now integrated with Paystack Checkout.”
“We’re always increasing the number of payment channels we offer, while also improving the efficacy of existing channels.”
“Today, we’re thrilled to share that Paystack merchants in Nigeria can now accept payments quickly and securely from over 40 million OPay users,” it added on its websit
This approach cuts out debit cards, the long standing payment intermediary between merchants and consumers, with its additional cost and resulting inflation of the final transaction amount.
The “Pay by OPay” feature is one of the ways merchants can accept payments directly from bank accounts, as the fintech is integrated with 24 Nigerian commercial banks and fintechs like PalmPay and Kuda, enabling merchants to receive payments via bank transfers.
However, the integration with OPay enables customers to make payments online directly through the OPay app or web interface.
“It’s important for businesses to offer payment methods that their customers know and trust,” said Shola Akinlade, Paystack CEO.
OPay has gained Nigerians’ trust as a payment option since the 2023 cash crunch episode.
How It Works
To use the feature,customers must enable “Pay with OPay” for their Paystack account.
To enable the feature, click the Bank checkbox in the ‘Preferences” tab of the Settings section of your Paystack Dashboard.
This will enable the Pay with Bank channel, giving you access to Pay with OPay and over 26 other bank channels.
Select the OPay option, and click on “Authenticate”, that will direct you to your OPay app to complete the payment.
If you are not paying via your mobile phone, you will be directed to the OPay web app,
Note that Paystack transactions made via your OPay account will either appear as ‘Certpay’ or ‘Merchant consumption’ on your OPay transaction list.
Transactions completed via the Opay Web app will appear as ‘Certpay’ , while transaction done via the mobile app will appear as ‘Merchant consumption’
Click on it to see more details about the transaction.
According to Paystack, the integration with OPay will guarantee customers 99.9999% transaction success rate.
Dauda Gotring, OPay’s MD also assured users of OPay’s continued commitment to innovative financial services. He said;
“OPay will continue to build on its strength, which is modern technology, to provide our customers with cutting-edge financial service offerings.”