First of all, you need to understand that Nigeria is not fully among Stripe supported countries but some people in Nigeria are still managing to create an account by registering their business in the United State or any supported country. Then they use the business details to create a Stripe business account which will be fully functioning including sending and receiving payment from anywhere in the world.
Currently, Stripe is available in 46 countries with Nigeria as an extension and continues to expand to more African region like Kenya, Ghana and South Africa. When Stripe becomes available in your country, you'll have the ability to sell to customers globally.
The Stripe extension to Nigeria, Kenya, Ghana and South Africa is facilitated by Paystack. This doesn't means that Stripe is fully available to Nigerians - it's just allowing Nigerian merchants to collect payment from their customers abroad through the Stripe payment gateway.
Paystack was acquired by Stripe in 2020 and since then become a subsidiary of the US-based payment infrastructure. Paystack is dedicated to advancing online commerce across Africa. It processes payments for various companies, including major brands like Burger King, UPS, and MTN. With its operations primarily in Nigeria and other African countries, Paystack provides a reliable payment platform for ambitious businesses.
As part of Stripe, Paystack offers exceptional service, including high success rates from over 10 payment methods such as Card, Mobile Money, and Bank Transfer. The company also prioritizes strong data protection, being PCI-DSS Level 1 and ISO 27001 certified, with top-tier regulatory approvals. Additionally, Paystack provides round-the-clock support from experienced Customer Success teams in each market.
In addition to Stripe availability in Nigeria, the payment company recently announced that it'll soon enable US merchants to sell their products and services directly Nigeria customers without the merchant having to set-up a local entity in the country. This development will actually works in the sense that when Nigeria make payment via Stripe for the products purchase on the US retail store, the payment will be debited in Naira and the merchants will be settled in their home currency - US dollars.
Unlike before, US merchants no longer need to incorporate in every country where they want to do business, including Nigeria. With this Stripe's latest roll-out, merchants can now sell directly to Nigerians without the need to establish a Nigerian company, making it easier to expand their business globally.
Now, the question! Is Stripe Available in Nigeria?
The bitter truth is that No, Stripe is not yet available in Nigeria. Although Stripe has extended its network to Nigerians through Paystack, but it has not officially launched its services in Nigeria as of now.
While Stripe's global expansion continues, Nigeria remains a market that is not yet supported. However, with the growing demand for seamless online payment solutions in Africa, it's possible that Stripe may eventually enter the Nigerian market. Until then, Nigerian merchants and businesses will need to explore alternative payment solutions to reach their customers both locally and globally.
