Paystack, one of the top Nigerian fintech companies, recently introduced virtual terminals to help merchants receive payments through bank transfers.
Before now, Paystack operated on physical terminals before releasing this update; Paystack physical PoS machines were launched in November 2022.
The virtual terminals serve as a digital resort to physical point-of-sale (PoS) devices, which have not been widely available due to the low supply of the machines; this has caused transaction delays. Paystack PoS terminals have been useful when making in-store payments.
However, with the introduction of the virtual terminal, Paystack is excited because it will reduce the time spent on payment confirmations and also provide a smooth checkout experience.
How the Paystack Virtual Terminal Works
Paystack said on their website that stores can now generate individual account numbers for store attendants to help them process customer's bank transfers without the need for store managers.Read more: https://www.investingport.com/paystack-launches-virtual-terminal-a-new-offline-payment-option/