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Best For Online Payments? ⋆ Naijaknowhow


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Paystack vs Flutterwave has been a debate for a while now and people like to say Paystack is the best and vice versa. Well, there’s no denying and since both companies are one of the best online payment gateways in Nigeria, there should be fewer debates.

Online payments are needed by businesses and individuals alike in this digital age, but with so many options available, choosing the right company to handle your online payments can be tricky. The two most popular online payment gateways in Nigeria are Paystack and Flutterwave, but which one should you choose? That’s Why in today’s article on NaijaKnowHow, we’ve decided to talk about Paystack vs Flutterwave and see what both companies offer.

Both Paystack and Flutterwave are fantastic payment processors for businesses and if you look at the best fintech companies out there in Nigeria, you’ll find these two tech giants.

But there are slight differences between them that may make one more appealing than the other. Paystack specializes in mobile money processing, while Flutterwave offers processing services specifically for business-to-business payments. This article compares the two payment gateways to help you decide which one is best for your business or online shopping store.

Paystack vs Flutterwave: Best For Online Payments?

The debate between Paystack vs Flutterwave isn’t needed actually and while both companies are good at what they do, let’s get brief info more about Paystack vs Flutterwave and see what they offer.

What Is Paystack?

Paystack vs Flutterwave

Paystack is a Nigerian company that provides an app for businesses to securely take credit card and online payments and it’s the only provider with true person-to-person payments, which means you can send money to friends and family over the app too.

A few other advantages of Paystack are that it’s free to join, they offer free mobile notifications when you receive a transaction and they let you freeze or unfreeze your account with just one touch. And as part of its newest feature, they let users share their top speed rating with others so we can all enjoy faster transactions together!

As a company with a huge international presence (particularly in Africa), Paystack is always focused on the latest mobile technologies and innovations and even some top digital banks in Nigeria use Paystack.

Is Paystack Secure?

Paystack is one of the newest and most secure payment processing options in Nigeria. Paystack’s Secure By Design approach incorporates PCI DSS level 1 compliance, creating an iron-clad ecosystem for payment processing – the safest in our industry.

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The payment technology doesn’t store any data and transactions are peer-to-peer. This means that there’s no risk of exposing your financial data or credentials online

Paystack keeps it on the cutting edge when it comes to security, which is always an issue for any form of e-commerce. For these reasons alone, many entrepreneurs believe that Paystack is their best option for online payment processing, but there are some drawbacks as well. One problem that some merchants have had with Paystack is transaction holdbacks.

Paystack Transaction Fees

PayStack charges a low rate of 1.4% for domestic transactions and an even lower rate of 0.8% for international transactions due to MasterCard’s global merchant rates. Additionally, there are no per transaction fees with PayStack.

When your customers need to pay you online with their credit card, this fee-free process is free of any hoops or confusing sign-ups all you need is the customer’s information, and the amount they owe you. There’s also no risk with international cards because it also supports more than 150 different currencies so every type of customer has access to your products and services without difficulty.

Paystack Transaction Mode

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Paystack is a global payments company with a mission to make payments easier, safer and faster. This payment service can be used by developers to implement billing solutions that run natively on their web and mobile apps, enabling them to send in-app purchase and subscription revenue invoices securely and automatically.

The idea behind Paystack is simple – to be the technology partner who not only provides the best developer tools and SDKs but also the safest, most reliable platform that processes thousands of transactions every second.

Paystack benefits

One of the major benefits of using Paystack is that it takes only a few minutes to set up. Moreover, there are no start-up costs or monthly fees associated with using their service. Other than convenience and pricing, an added benefit of using Paystack is that you can set up recurring payments and payouts every month if needed. You can also make adjustments to an existing order at any time without having to resubmit it or request your customer’s updated information.


Paystack vs Flutterwave

Flutterwave is a leading provider of online payment services. Unlike other providers, it has three key benefits. It offers the best rates available with 2% with no fixed contract term and a very low monthly fee that is capped at $0.99/month. It offers an unmatched volume of up to 90 transactions per second which means buyers get faster transactions every time they need to pay for something online. And finally, it offers cross-border payment options in 130+ countries which can make sending money abroad simpler than ever before.

Flutterwave is very popular and it’s a payment gateway that is being used by popular companies like Bet9ja and so on.

Flutterwave Transaction Fees and Costs

Flutterwave doesn’t charge merchants a setup fee before they can start accepting payments on their platforms. The monthly fees to continue using the platform are fairly low at $9.99 per month (less than 1% of transactions). This does not include the processing fees which may vary depending on your volume of transactions and range from 3% – 6%.

Is Flutterwave Secure?

Flutterwave is a global payment technology company, specializing in the secure digital transfer of funds from one country to another. The platform offers many benefits, including being PCI compliant and localized customer service. While both options are secure, Flutterwave offers more security than some payment gateways but that shouldn’t be a reason to start the debate on Paystack vs Flutterwave.

Flutterwave Benefits

With flutterwave, you can access cash as soon as it is loaded into your account from anywhere in the world. This makes it easy to manage online payments quickly. Merchants also receive money directly into their bank accounts so there is no need to deal with a complex payment network.

With flutterwave, payments are fast and efficient so you never have to worry about customer disputes or delays with receiving funds. For this reason, flutterwave is one of the best options when looking for a way to make secure and quick online payments.


After reading this article about the two big payment companies in Nigeria, one would see that both companies are good and have their differences while serving the same purpose, you can choose to use any of the two.

Let’s hear your opinion about Paystack vs Flutterwave in the comment section below, you can share this article as well.

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