Cashless payments are growing fast in Nigeria, and if you run a business, you know how important it is to offer quick and easy ways for customers to pay. QR payments have become one of the simplest and most secure ways to accept money. Instead of dealing with card failures or expensive POS machines, you can let customers scan a code and pay instantly.

Two major players in the Nigerian QR payment space are Nearpays and Paystack. Both offer businesses a way to collect payments without the hassle of card machines, but they work differently. If you’re trying to decide which one is best for your business, this breakdown will help you make the right choice.

1. Setup Process—Which One Gets You Started Faster?

When choosing a QR payment solution, you want something that is easy to set up and doesn’t require unnecessary paperwork.

• Nearpays allows you to create and activate your QR payment option instantly from the app. No long forms, no waiting time.
• Paystack requires a business registration and verification process, which might take a few days before you can start accepting payments.

If you need a quick solution that lets you start collecting payments immediately, Nearpays gives you an edge.

Winner: Nearpays

2. Transaction Fees—Which One Saves You More Money?

Every business wants to keep costs low. Here’s how the transaction fees compare:

• Nearpays: Lower transaction fees, making it more affordable for businesses with high payment volumes.
• Paystack: Charges a standard 1.5% + ₦100 for local transactions and 3.9% + ₦100 for international payments.

With Nearpays, you save more, especially if your business processes frequent small transactions. Paystack’s extra ₦100 charge on every payment can add up quickly, cutting into your profits.

Winner: Nearpays

3. Ease of Use—Which One Makes Transactions Smoother?

You don’t want to lose customers because a payment system is too complicated.

• Nearpays QR Payments allow customers to scan and pay directly from their phones without needing an extra app.
• Paystack QR Payments work through third-party apps like Apple Pay and Visa QR, which may not be as seamless for Nigerian users.

With Nearpays, customers don’t need to download anything extra or create additional accounts. They scan, confirm, and the payment is done.

Winner: Nearpays

4. Payment Speed—Which One Clears Funds Faster?

Waiting for payments to settle can slow down business operations.

• Nearpays: Processes payments instantly, so you get access to your money without delays.
• Paystack: Settlement for local transactions takes 1-2 business days, while international payments take even longer.

If you need quick cash flow for your business, Nearpays ensures you receive funds instantly, helping you manage operations better.

Winner: Nearpays

5. Who Should Use Each One?

Feature Nearpays Paystack

Best for Small and medium Large enterprises,

businesses, street vendors, businesses selling

freelancers internationally

Setup Speed Instant Requires business verification

Transaction Lower fees, no hidden 1.5% + ₦100 (local),

Fees charges 3.9% + ₦100 (international)

Ease of Use No extra apps required Works through third-party apps

Settlement Instant 1-2 business days

Time

Final Thoughts: Which One Should You Choose?

If you want a fast, affordable, and easy-to-use QR payment system, Nearpays is the better option. It’s built for Nigerian businesses that need quick settlements, lower fees, and a setup process that doesn’t waste time.

Paystack works well for businesses that focus on international transactions, but if your goal is to collect payments smoothly from local customers without extra fees or long wait times, Nearpays is the smarter choice.

Get started with Nearpays QR Payments today and start accepting payments the easy way.