Nigeria’s Paystack opts for Truecaller to verify payments

Nigeria’s Paystack opts for Truecaller to verify payments

To further help its users to accept payment easily Paystack, a Nigerian online payment processor said it has integrated with Truecaller SDK to verify payments.

According to the company, the Truecaller SDK is a Truecaller’s mobile identity product that will allow merchants across Africa accept payments online in a frictionless and secure manner.

Before the integration, 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 verification process and also makes it possible to open up Paystack to the millions of unregistered businesses who were previously unable to accept online payments with Paystack.

In the words of Paystack CEO, Shola Akinlade, “This partnership with Truecaller allows Paystack to deliver on our promise of trust as well as a frictionless experience. We want to be able to guarantee that all businesses paid via Paystack are thoroughly checked for legitimacy and credibility. In a low-trust environment like Nigeria where many people are paying online for the first time, it’s important to deliver a safe, fraud-free experience, and this is a responsibility that Paystack takes extremely seriously.”

Shola adds: “We needed to balance the strong desire to open Paystack up to unregistered business against the equally strong obligation to protect the interests of customers. Customers need the firm assurance that every Paystack merchant they pay is a vetted business, and our partnership with Truecaller ensures that we can continue to be worthy of customers’ trust.” In addition to using Truecaller as part of the merchant verification.