PaySterra Review: PaySterra is a Fintech platform where you can send & receive, deposit & request, invest and exchange money globally in multiple currencies easily, quickly and safely with great rates and low fees.
The Fintech sector has grown a long way in its adoption and implementation in Africa as the industry is slowly taking over traditional banks. In Africa, the recent growth of fintech companies in the past year has been tremendously successful as the sector has raised a record $2 billion which is a mind-blowing 770% increase from the 2020s $230 million. Companies such as Opay, Flutterwave, Chipper Cash, and Wave are among those dominating the fintech sector.
This article isn’t about how beneficial the fintech sector is or how much contribution is making to the transformation of our society to a more digital one, No, we are going to be examining in detail a fintech company called PaySterra and why it tags itself as the “Safest and Most Reliable Payment Gateway Platform”.
PaySterra Review: What is PaySterra?
PaySterra is a fintech company which specializes in carrying out financial transactions both locally and internationally in multiple currencies. It was established by Henry Chijioke who acts as the CEO, it was established on the 19th of December, 2022. The most amusing info about its launch was that the CEO, Chijioke Henry, repeatedly posted about its launch on his Facebook Account hence creating awareness.
How To Register on PaySterra
Registration on the platform is very easy and link to register an account is placed below. The registration process goes thus:
- Enter your First name
- Enter your Last name
- Enter your preferred email address but I recommend an active one
- Enter your phone number as various country codes have been provided for you
- Enter your password (One that can be remembered by you)
- Confirm your password by typing exactly what you typed in the password column,
- Click Sign Up and voila you are a registered user on the PaySterra platform.
There is also a sign-in indicator for those who aren’t new to the platform, there you will be required to only input your email and password used during registration.
PaySterra Review: Why You Should Choose PaySterra
By now, you should be on a fintech platform and since you enjoy the services provided – you will feel that there is no need for you to switch but I am here to convince you with some reasons why you should abandon your previous fintech platform just like me and register on PaySterra.
It has lower processing fees and service charges
Online banking since its inception has been known for its zero charges policy, unlike traditional banks and credit card companies who charge fees for card maintenance and transaction charges. Once you check the amount being removed it may look small to you but when you multiply it by how many customers the bank caters for – it looks unreal. The Fintech institutions were popularized due to the little or no amount they charge customers but that trend has recently started to change as fintech companies now issue cards and hence remove exorbitant charges from the users’ accounts to facilitate their operations which puts the multitude of people using them in regret.
The introduction of PaySterra has come as a relief or as I say “A chill water in the hot sun” for users who are contemplating the option of changing back from the fintech companies. PaySterra gives users very low charges which don’t even make a dent in the user’s account and as a new platform – I expect this policy to last for a long.
Various experts in the fintech sector and even traditional banks have complained of this immensely, E.g. Nigeria’s Central Bank just came up with a policy to make the economy cashless and drive everyone digital but the major reason why citizens have remained adamant is because of slow payments; an average trader wouldn’t let a customer leave his/her presence if the credit alert for the goods purchased doesn’t reflect on his/her device. Slow network and transfer failure are really of a bother to users as many have been victims (Even I).
PaySterra has looked at this issue critically when developing its platform and ensured that users enjoy seamless banking through faster payments. The platform has been programmed to carry out transfer without error at incredible speed; it has also assured users that their network strength won’t be a hindrance for transfer failure as the web and app platforms support 3G, 4G and even 5G networks hence ensuring seamless and fast banking.
An easier Transaction process
When carrying out transactions on PaySterra, it offers a very basic process that even beginners in the fintech sector would easily accumulate. It provides users with a very simple transaction process to ensure that its platform is friendly to both categories of users alike.
Guaranteed Security on its platforms
The management is partnering with various security companies to ensure that it provides its users with the best and prevents its platform from experiencing any kind of Cyber-breach. The company has promised its users that their data won’t be stolen, hacked or sold hence ensuring trust in its platforms.
It has a lot of unique features
The company has equipped its platforms with a lot of features which enable users to perform a lot of activities on them. Others of its kind may just load up their platform with only financial services but PaySterra has gone the extra mile by ensuring that its platform supports multiple currencies, cryptocurrencies, digital coins, etc. This will go a long way in ensuring the effectiveness and longevity of the platform.
PaySterra Review: Features Available on PaySterra
1. Transaction history
We have been in that situation when the person you are sending money to requires proof like a receipt to be sure that he/she is not getting scammed and unfortunately for the sender, the banking app has been vacated. What do you do in this sort of situation? For those using banking platforms which doesn’t have a transaction history feature, you just have to wait till the person you are sending money to gets the money and if luck isn’t on your side – there is a network issue or slow payment issues for you to deal with.
PaySterra users have nothing to worry about in this regard as they don’t need to write down all their transactions on their notes (Just joking) or save all the receipts of the transactions immediately hence having low storage space; the app comes equipped with a transaction history for all its users hence you can access transactions for transfers you have done previously as they labelled according to the date they were carried out and the receipts of the transfers can be downloaded from there any time.
This is my favorite feature – the platform has a lot of currencies available on this platform and I have asked myself various times if each currency will have its wallet hence alerting users on how much they have stored for each currency. This feature also helps the user in planning and if he/she should increase the amount that currency has.
3. Depositing of Fund and Cryptocurrencies
This feature is available on most fintech platforms, PaySterra gives users the ability to deposit cash into their wallet but the only “comma” in their depositing feature is that due to the newness of the platform – depositing by card isn’t available as the platform only supports deposits by bank transfer. To ensure transparency and fast depositing by the company for the users, it has a feature which makes users attach the receipt of the transaction that occurred.
This feature has a very huge advantage as users on PaySterra have access to a lot of currencies when depositing. Here are the processes involved when depositing on PaySterra:
- Locate the deposit column which can be located at the top left corner of the screen
- Click on “deposit fund” and select the desired currency you would want as the platform offers a range of currencies for users to decide from.
- Select the amount you want to deposit and then pick out your desired payment method
Note: As I said earlier, due to the newness of the platform it doesn’t support card payment but only payments through the bank method are available.
- After selecting the bank transfer method, initiate the transaction, attach the receipt of the transaction and tap confirm.
- After a few minutes, the deposit will reflect on the platform.
4. Send and Request money
All financial institutions have this feature on that platform but the unique part about PaySterra’s feature is that it is far easier to initiate a transfer than what other financial institutions provides.
Note: The Platform only allows transfers to a PaySterra account but the company has released a statement in which they mentioned that the option to transfer to other banks will be available in the future.
The platform also allows users to request money from other PaySterra users which is more faster than an ordinary transfer (mind-blowing); the only criteria needed to carry this action is the target phone number and email address (Must be registered on PaySterra).
5. Exchange Currencies
The platform also allows various users to exchange a currency to another using the wallet. The available currencies which can be exchanged are:
Note: The option to trade Crypto currencies isn’t available on the platform yet.
The Platform allows users to withdraw their money to their bank account, PayPal or any Crypto wallet. Once a user chooses the bank account withdrawal method, it requires the users to input some vital details.
7. The Customer Care Service
Any platform without an efficient customer service won’t be patronized regularly as users feel that if they have any issue it won’t be addressed.
PaySterra has a very efficient and Responsive team which means that once a user submits a ticket of his/her issue – it will be attended to promptly. The platform also allows users to prioritize their ticket from Low to High as tickets tagged with high will be addressed more quickly than those with low.
8. 2-Factor Authentication
The platform allows users to set two-factor authentication to bolster the security they get on the platform.
Conclusion on PaySterra Review
PaySterra is new and even though some may complain about the lack of some features but a new company we carestst assured that more features and improvements will be done on the platform. The company has shown some potential with the kind of attention it has generated since its inception.
We think you should use PaySterra and let us know your response to it. That is all for PaySterra review.
Thanks for reading. Kindly leave a comment if you find this review helpful.
Don’t forget to click the button below to register an account on PaySterra today.