Commonly Asked Questions (CAQ)

Why PaySprint Payments Processing Service.

PaySprint Payments processing service is a NO-Hardware and 100% Subscription-based payments processing service that is designed to help merchants save as much as 90% of the cost of receiving payments from customers. Customers can make payment using debit or credit card, wallets, and rewards points at no extra costs to your business.

How do I receive payments from customers on PaySprint

As a merchant you can receive face-to-face payment using QR Code (save on Hardware costs), share payment link with remote customers and receive online payments from visitors to your business website.

How do I activate receive payment options.

Receive Payment Options (RPO) are automatically activated when your business account is approved. Your business account is approved when you complete the business profile and upload the required business/corporate documents.

How do I generate QR code?

QR code to receive payment from customers is auto generated once the account is opened. However, you would not be able to process payment until the account is approved. Also, the QR code can be regenerated if the original one not functioning properly at no cost to your business.

Can I download and print QR Code?

YES. You can download and print QR code to display at the storefront or save on your mobile device to process face-to-face payments.

How do I create and share Payment link?

The Payment link is already created. All you need to do is to copy the link and share with customers. The code can equally be embedded in a message like in an email. In addition, we have provided you with social share link to make it easier to share the link with customers.

How do I receive payments on my business website?

To receive payments on your website through PaySprint, simply share the API token and the link to documentations with your website Developer. You may also contact our PaySprint Support Team to assist in installing PaySprint on your website at no cost to your business.

Do you have a plugin API?

PaySprint API Plugin is under development. We are working with growing number of other platforms like WordPress, and online stores to provide them with PaySprint API Plugins.

What is Payment processing fee setting?

Payment Processing fee is very important to your business. The setting offers you the option to determine if you or your customers would be responsible for card processing fee. It is cheaper for customers to cover processing fee than for your business to cover processing fee. Look at it from this perspective if the card processing fee is $0.3. To individual customers, $0.3 is not a lot of money. but its a significant amount to your business if the business must cover $0.30 for like 1,000 customers.

Is it possible for me pass on the card payment processing fees to customers?

YES. The law now allows businesses to pass on the card processing fees to customers.

Is it possible to split payment processing fee with customers?

We are working on providing this option in the future.

What is the difference between Wallet Balance and Available Balance in my Business Account?

Wallet Balance would be same as available balance if the account is on FREE Plan. However, Available Balance would be lower than Wallet balance because of the subscription fee payable.

What is Overdraft Balance and How does it work?

Overdraft Balance is the account created for Wallet Balance Protection. Wallet Balance protection is a program that allows account holder to spend more than the available funds in their wallet. When an account holder is approved for Wallet Balance protection, the approved amount appears under Overdraft Balance.

What is Security Balance and How does it work?

Security Balance is an account where deposit made to cover chargebacks are kept. Merchant that records more chargeback than the allowable threshold would be required to make a security deposit to cover future penalties on chargebacks on account. Chargeback happens when a card payment made by customers are returned due to fraudulent activities.

What is local payment method?

Local payment method is available payment method in the country of residence of the Merchant. Mobile Money wallet, electronic money transfer etc. are fast becoming additional local payment method in some countries.

How does the invoicing work on PaySprint

PaySprint invoicing system allows businesses to create and send invoice to customers. Invoices can be sent to customers either the customer has a PaySprint Account or not. A paper invoice can also be printed and send to customers.

Customer would be able to use the payment link embedded in the invoice to make payment to your business with either Credit or Debit Card, Wallet, or reward points.

How does the Instalment payments in Invoicing work?

When creating an invoice, you may want to offer instalment payments to customer, this means, customer is allowed to pay the invoice more than one time. Offering installment to customer improves customer loyalty and retentions.

What is currency conversion and how does it work.

Currency conversion enables your business to receive payment from cross-border location at your local currency, thereby eliminating foreign exchange fluctuation. For example, you may issue an invoice to a customer in your local currency while customer make payment in equivalent amount in his or her local currency. That means you receive your local currency amount and thereby not expose to foreign exchange rate fluctuations.

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