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50m Truecaller users for online payment service

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Nigeria’s electronic payment company, Paystack has partnered with Truecaller 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 companies, in a statement, said the partnership will also provide powerful tools that businesses and startupsacross 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 per cent of all online transactions in Africa’s largest economy.

 

The company aims to allow merchants in Africa accept payments from anyone, anywhere in the world. Over 50 million Africans use Truecaller, and the app has helped Nigerian users block over 13 million calls and 25 million spam SMS, monthly.

 

Last November, Truecaller announced plans to deepen the collaboration with the business, startup and developer ecosystem in Africa, and the partnership with Paystack represents a strong move towards helping African businesses leverage the power of Truecaller’s mobile identity platform 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 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.

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