How To Set And Use Paystack – Step-By-Step Process On How Businesses Can Set Up Paystack
How To Set And Use Paystack – Step-By-Step Process On How Businesses Can Set Up Paystack
Online payment gateways like Paystack require businesses to set up before they can use them as part of their transactions. Knowing how to set up and use online payment gateways can be beneficial for your business.
Paystack payment gateway is one of the top payment gateways in Nigeria, and so we’ll be giving you a step-by-step process on how to integrate it into your business and the required documents needed for that.
Documents Needed To Set up Paystack As A Business
The following are some of the messages required for setup. They include the following:
- Identification: A government-issued ID, such as a driver’s license, passport, or Voter’s Card.
- Bank Verification Number (BVN): For a Nigerian account, a Nigerian Bank Verification Number is necessary.
- Bank Account Information: Your personal bank account number for receiving payouts.
- Business Information: Details like your business name, trading name, address, and industry.
- Proof of Address: documentation from the government proving your address, such as a utility bill, tenancy agreement, or other formal correspondence.
- Other Documents: Additional documents, including proof of address or a letter confirming your bank account, can be needed, depending on your region and type of business..
Step-By-Step Process On How Businesses Can Set Up Paystack
We have here a detailed process for you to follow to successfully set up and use Paystack as part of your business: The steps include the following:
- Create an account
- Complete The Initial Setup
- Submit Compliance Documents
- Integrate With Your Website
- Set Up WebHook URL
- Test Your Integration
Let’s get started with them.
1. Create an Account: Enter your company name, email address, phone number, and other necessary information to create a free account on the Paystack website.
2. Complete the Initial Setup: Once your email has been verified, log in and complete your business profile, which includes your contact details, trading name, and business description. “Test Mode” will be your initial setting.
3. Sumit Compliance Document: Navigate to your dashboard and upload the necessary files for proof of identity and address. Once your account has been approved, it will be reviewed and made available to receive live payments.
4. Integrate With Your Website: Get the Paystack plugin installed. Locate Paystack in the WooCommerce options and turn it on. From your Paystack dashboard, enter your title, description, and public and secret API keys.
5. Set Up WebHook URL: Select “API Keys & Webhooks” from the Paystack dashboard. To make sure your system gets real-time updates on transactions—which is crucial for managing network issues—copy the Webhook URL and preserve it there.
6. Test Your Integration: Use Paystack in Test Mode to ensure your integration is working correctly before switching to live mode.
Conclusion
Be sure to secure your business transactions with a payment gateway.
This is why we have listed out steps to take to successfully set up and use Paystack in your business transactions.
In our next post we’ll look at Buy Now Pay Later (BNPL) system in Nigeria.