Paystack (paystack.com) has partnered with Truecaller (truecaller.com) to allow more merchants across Africa accept payments online in a frictionless and secure manner by leveraging Truecaller’s mobile identity product, Truecaller SDK. The partnership will also provide powerful tools that businesses and startups across Africa can use to verify the mobile identity of their customers, and in turn, further help in creating more trust in the online payments landscape on the continent.
Paystack is one of Nigeria’s largest payments startups, processing nearly 20% of all online transactions in Africa’s largest economy. The company (the first Nigerian startup to get into the celebrated Y Combinator Accelerator) aims to allow merchants in Africa accept payments from anyone, anywhere in the world.
Previously, all merchants who wanted to accept payments with Paystack had to be registered with various regulatory bodies. In Nigeria, where the vast majority of businesses are unregistered, the requirement to be registered prevented many legitimate offline businesses from realizing the benefits of online payments.
The Paystack-Truecaller partnership means that in addition to Paystack’s proprietary merchant risk assessment checks, merchants can now verify their mobile identity via Truecaller. Integrating Truecaller’s mobile number identity product as a verification mechanism strengthens the Paystack platform’s merchant …read more