Paystack Online Casinos in Nigeria

Last updated: 27.02.2022
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Paystack is a payment processor operating currently in three African countries including Nigeria. Over 60,000 businesses give preference to this payment service due to various reasons, one of which is fast transactions, security and flexibility in options offered to customers. Paystack is integrated into Nigeria’s biggest banks and ensures almost 100% success rates when it comes to card transactions.

Established in Lagos in 2015 as a small fintech startup, Paystack has experienced a rapid growth to finally become a powerful entity in the field of financial services. In October 2020, the fintech company was acquired by Stripe at over $200 million. In September 2021, Paystack become Nigeria’s first payment gateway to have partnered with Apple Pay. These days, they boast to power about a half of total online payments in that country.

Due to its high incidence in this country, Paystack is widely used in by gambling sites and bookies aimed at the local Nigerian market. This payment tool allows a player to choose from a few methods to pay for the transaction. For example, online casino patrons are able to pick a credit card, Apple Pay, mCash (a mobile solution for small payments) and a plenty of other options.   

Making Paystack deposit

Many online casinos that accept Paystack offer easy guides explaining how to use this option and make payments. In order to deposit funds, you need to head over to the cashier page of your chosen online casino. Following that, you will be asked to select how much you want to get transferred. From here, you should insert your banking info, and the bank will send you a one-time password that you need to enter in the pop-up window. If you have provided correct banking details, the funds will be taken from your bank account within a few minutes. Paystack allows for international (USD only) and domestic (NGN) payments.  

Making Paystack withdrawal

To receive winnings from an online casino, you should make sure it does allow Paystack withdrawal. If that is so, then you need to head to the cashier page, choose this banking option, enter the amount and confirm the transaction. Payouts occur instantly, after the casino has approved your withdrawal.

Pros and cons to Paystack payments

This online banking tool is trusted by thousands of innovative businesses in Nigeria, and many global casinos that accept NG players offer this banking option. Here are six reasons why:

  • Frictionless transactions via many payment options to choose from: bank transfer (via Zenith or Providus bank account), bank account, Visa QR, USSD, Card, etc.
  • Customers are protected with an advanced fraud detection system
  • Payments in the local currency (Naira)
  • Automatic error resolution: if a transaction cannot be completed for some reason, the Paystack checkout form suggests an alternative payment method
  • Money is credited to casino accounts instantly
  • As Paystack is integrated into mobile apps, you can make payments to online casinos with Paystack from your mobile device

Happily, drawbacks to Paystack used for online casino payments are not numerous. One of the biggest cons is the fact that it accepts only two currencies specified above.

Paystack fees and limits

The company’s motto is “Paystack only makes money when you do”, implying that successful sales are charged with transaction fees payable by merchants. However, many online casinos that use Paystack pass the related expenses along to players. For local transactions, the system deducts a 1.5% fee + NGN100. If a transaction is below 2500 Nairas, the NGN100 fee is waived. For international money transfers (in Naira or USD), customers have to pay 3.9% + NGN100.

Customers may send and receive any amount they want because there are no limits introduced by the payment provider itself. On the other hand, many online casinos establish their own limits, so check this out in advance in order to adjust your withdrawal or deposit amounts correspondingly.    

Summary to Paystack

Go with Paystack if you need a Naira-friendly banking option trusted by thousands of local brands, both entrepreneurs and online betting companies. Helping you get paid securely and quickly, Paystack is a low-cost, reliable tool for moving moneys to and from online casinos.

Reviewed by Josh Zboncak Josh Zboncak