What is Paystack?
Paystack is a technology company powering growth for African businesses through its collection of secure payment tools.
This online payment gateway, now integrated with Octiv, makes it easy for you to accept secure ad-hoc payments from multiple local & global payment channels.
Paystack is not just a payment processor but also a growth engine for your business.
You can set up Paystack quickly and efficiently to start receiving payments instantly.
You can find more information about Paystack by clicking here.
Why did Octiv choose Paystack as an online payment gateway?
At Octiv, we want to offer our clients a cutting-edge & cost-effective payment processing system for once-off credit card payments. This is a big reason why we chose to integrate seamlessly with Paystack.
In addition, one of the biggest payment processing platforms in the world, Stripe, joined forces with Paystack in 2020. We have recognised this as a determining factor.
Paystack is at the highest compliance level with a PCI DSS Level 1 certification, enabling businesses to transact safely and securely.
Do I need to set up an account with Paystack off the Octiv platform?
No.
Paystack is integrated with Octiv. All you need to do is set up a Paystack sub-account via your Octiv profile.
This process is quick and straightforward.
Find out how to set this up by clicking here.
Do I need to validate my Paystack account?
No.
You just need to activate your account to validate it.
This takes 2-minutes.
How do Paystack settlements work?
You receive money from your members directly into your bank account. Settlements run daily and are the lump sum of the successful transactions from your invoices for that day.
Settlement is not immediate. A settlement typically reaches your bank account within a few working days of the payment being collected. When a transaction is successful the member’s invoice reconciles immediately; the payout then appears under Accounts > Settlements once it has been paid out to your bank account.
If a payout has not arrived after 5–7 business days, check Accounts > Settlements to confirm the payment was processed, then contact Octiv Support at support@octivfitness.com with the payment date and amount so we can escalate to Paystack for reconciliation.
Where do I see my settlements overview?
All Paystack settlements can be found on Octiv.
Please note that the settlements will only show under the Octiv settlements tab once paid out to your bank account.
Navigate to Accounts > Settlements
Here you will get an overview of your daily settlements which have been paid out to you or are in the process of being paid out.
You can also click on the settlement date to view the list of transactions and invoice details that have been paid out.
Navigate to Accounts > Settlements.
What is the pricing?
Each transaction is 2.9% + 1 ZAR (South African rand).
You can find the detailed pricing list by clicking here.
How do I set up Paystack on my Octiv profile?
We have created an extensive and detailed guide to help you set up Paystack on your Octiv profile. Please follow this guide by clicking here.