Paystack vs Payfast: An Honest Comparison for Nigerian Businesses
- Simon Zaku
- Apr 3
- 4 min read
Updated: Apr 4
Which Payment Gateway is Better for Nigerians? Paystack or Payfast?

Did you know that over 60% of Nigerian freelancers struggle with receiving international payments? I was one of them.
Paystack vs Payfast: See how Paystack and Payfast compare in features, pricing, customer support, and ease of use!
Ten years ago, when I started my freelance writing business, one of my biggest headaches was finding a reliable payment gateway.
I tried everything—PayPal, Payoneer, and even Flutterwave—but they all had their own problems.
PayPal wasn’t fully supported in Nigeria, and many of my international clients refused to use alternatives like Payoneer.
At some point, I even lost clients simply because I didn’t have Zelle or PayPal. It was frustrating.
Then, I discovered Paystack. It was a game-changer!
The ease of receiving payments, the seamless integration, and the local bank support made my life easier.
But recently, a fellow freelancer introduced me to Payfast, and I decided to give it a try.
That’s why I’m writing this comparison—to help you choose between Paystack and Payfast based on real-life experience.
What You Will Learn: Paystack vs Payfast – A No-Nonsense Comparison
The key differences between Paystack and Payfast
Which payment gateway has lower fees and better features
Pros and cons of both platforms
Which one works best for freelancers and businesses in Nigeria
A breakdown of customer support, security, and ease of use
Table of Contents
What is Payfast?
Payfast is an online payment gateway that allows businesses and freelancers to accept payments from customers.
Brief History of Payfast:
Payfast was founded in South Africa and has since expanded to other countries.
The platform is known for its fast transaction processing and integration with multiple payment methods.
When Was It Created?
Payfast was launched in 2007.
Who is the CEO of Payfast?
Currently, Payfast is owned by Network International, a leading payment solutions provider in Africa and the Middle East.
Want to try Payfast? Click here to sign up and process your first transaction today.
What is Paystack?
Paystack is a Nigerian payment gateway that allows businesses to accept payments online.
It is one of the most popular payment solutions in Africa.
Brief History of Paystack:
Paystack was founded by Shola Akinlade and Ezra Olubi in 2015 and has grown rapidly, becoming the preferred choice for many Nigerian businesses.
When Was It Created?
Paystack launched in 2015 and was later acquired by Stripe in 2020.
Who is the CEO of Paystack?
Shola Akinlade is the co-founder and CEO of Paystack.
Ready to start using Paystack? Click here to sign up and start receiving payments instantly.
What Do Payment Gateways Like Paystack and Payfast Do?
Paystack:
Accepts payments via credit/debit cards, bank transfers, and USSD
Integrates with eCommerce platforms like Shopify and WooCommerce
Allows businesses to automate invoices and recurring billing
Provides fraud detection and security features
Payfast:
Supports payments via cards, bank transfers, and mobile wallets
Offers a seamless checkout experience for businesses
Has strong security and fraud prevention tools
Works well for international transactions
Pros of Paystack
Easy to set up and integrate
Supports multiple payment methods, including USSD and bank transfers
Competitive transaction fees
Strong security and fraud prevention
Excellent customer support
Want to start using Paystack? Click here to sign up and start receiving payments instantly.
Cons of Paystack
Not available in some African countries
Limited support for international payments
Some businesses report delays in fund settlement
Pros of Payfast
Supports multiple currencies and international payments
Secure and fast payment processing
Easy integration with eCommerce platforms
Strong fraud prevention tools
Want to start using Payfast? Click here to sign up and process your first transaction today.
Cons of Payfast
Higher transaction fees compared to Paystack
Limited availability in some regions
Customer support response time can be slow
Payfast Fees and Pricing
Payfast charges a percentage of each transaction.
The exact fees depend on the type of payment method used.
Paystack Fees and Pricing
How much does Paystack charge it's customers per transaction?
Paystack charges 1.5% + ₦100 per local transaction and 3.9% + ₦100 per international transaction.
Want to start using Paystack? Click here to sign up and start receiving payments with low fees.
Payfast vs Paystack: Which is Cheaper for Nigerians?
When comparing fees, Paystack is generally more affordable for local transactions, while Payfast is better for international payments.
Payfast vs Paystack: Which Payment Gateway Has Better Customer Support?
Paystack offers better customer support with multiple channels like email, chat, and social media.
Payfast, on the other hand, has slower response times.
Cheapest Online Payment Gateways Besides Paystack and Payfast
Flutterwave: A leading Nigerian payment gateway
Remita: Popular for government transactions
VoguePay: Good for small businesses
Opay: Offers low transaction fees
Frequently Asked Questions: Payfast or Paystack?
How much does Paystack charge per transaction?
Paystack charges 1.5% + ₦100 for local transactions and 3.9% + ₦100 for international transactions.
Can I receive USD with Paystack?
Yes, Paystack supports USD transactions, but only for certain business accounts.
Final Thoughts – Which One Should You Choose?
Paystack or Payfast? What will be your decision right now?
If you need a payment gateway for local transactions in Nigeria, Paystack is the best option. But if you handle a lot of international payments, Payfast might be worth considering.
Which one do you prefer? Let me know in the comments!
Cheers,
Written by: Simon Taki Zaku - Jalingo, Nigeria,
Founder, CEO: IbiFoundry LLC,
Website: https://Ibifoundry.com.ng/,
As seen on: Forbes Africa, Amazon, MarketingInsiders, Cyberbackpack, RescueACEO, InfinityBlogAwards Co., BloggingFromParadise, A1Future, amongst others.
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E-mails: simonzakucom@gmail.com, IbiFoundry@gmail.com.
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