AI agents for business finance: what they can and can't do
What AI agents can do in bookkeeping, close, collections and compliance today, where a person must stay in charge, and how to judge a product.
The short answer
A Paystack or Flutterwave payment link pays the merchant who created it, so to receive through one you need your own merchant account. Paystack says its services are only for businesses registered in Nigeria, Ghana, South Africa or Kenya, so a freelancer with only a US business usually cannot open one. Where you do have an account, local naira payments cost 1.5% plus ₦100 capped at ₦2,000 on Paystack and 2% plus VAT on fees on Flutterwave, per their Nigeria pricing pages read in October 2026.
Who a payment link actually pays
A payment link is a checkout page that belongs to a merchant account. When your client in Lagos clicks it and pays by card, transfer or USSD, the money settles to the account holder who generated the link, minus the processor's fee. That means the question is never "can my client pay with Paystack?" (almost any Nigerian payer can) but "do I have a merchant account that can generate the link?"
This matters because some clients assume the link runs the other way. If a client sends you a Paystack link, it is a link for paying them. To be paid, you send the client a link from your own account, or you ask them to pay you by another route.
Can a US-based freelancer open an account?
Paystack's support centre says its services are available only to businesses registered in Nigeria, Ghana, South Africa and Kenya, with a private beta in Côte d'Ivoire and Egypt (article edited 15 September 2026). A sole proprietorship or LLC that exists only in a US state does not meet that test.
Flutterwave's Nigeria pricing page lists Payment Links as a product and says international payments can be accepted from anywhere, but the page we read does not state which countries a merchant must be registered in, and its US pricing page would not load when we checked. Read Flutterwave's current sign-up requirements before you assume either way.
Some freelancers already have a Nigerian business name or company registered with the CAC, often from before they moved. That entity can usually meet the "registered in Nigeria" test, but it then brings its own Nigerian filing duties. Our guide to running a Nigerian company from the US covers those.
What the processors charge (as at October 2026)
| Item | Paystack (Nigeria page) | Flutterwave (Nigeria page) |
|---|---|---|
| Local payments | 1.5% + ₦100; ₦100 waived under ₦2,500; capped at ₦2,000 | 2% per transaction (shown as 1.4% + 0.6% platform fee) |
| International cards | 3.9% + ₦100 | 4.8% |
| VAT on fees | Not shown on pricing page | 7.5% VAT on transaction fees |
| Settlement currency | Naira by default; USD settlement a public pilot to Zenith Bank domiciliary accounts | Local currency by default |
| Settlement timing | Next working day (T+1) | Next day for local payments |
Both pages are undated and change, so check them on the day. Neither pricing page gives a separate price for payment links.
Worked example (illustrative)
Your client pays a ₦1,500,000 invoice locally. On Paystack, 1.5% is ₦22,500 plus ₦100, which is above the cap, so the fee is ₦2,000 and ₦1,498,000 settles. On Flutterwave's listed 2%, the fee is ₦30,000, plus 7.5% VAT on that fee (₦2,250), so ₦32,250 is deducted and ₦1,467,750 settles, assuming no cap applies; the page shows none. Either way, what lands is naira in Nigeria. Converting it to dollars is a separate step with its own rate and cost.
Other ways a Nigerian client can pay you
- Naira transfer to a naira account in your name. The client pays a normal bank transfer; there is no merchant fee on your side, and you decide when to convert.
- Dollar transfer from the client's domiciliary account to your US account, if the client has dollars and their bank will send them for a services invoice.
- A platform both sides use, such as a freelance marketplace, where the platform's own fees and rules apply.
- A link from a client's own agent: avoid. Money that passes through a third party's merchant account is harder to trace in a dispute.
Our guide to getting paid by Nigerian clients into a US account compares these routes in more detail.
The US tax side
Income is taxable whether or not any form is issued. The IRS says that "whether or not you receive a Form 1099-K, you must still report any income on your tax return" (page reviewed 28 June 2026). A Nigerian processor settling naira into a Nigerian account may never send you a US form, so your own invoices and settlement reports are the record. Convert each receipt to dollars and keep the rate you used; see converting naira invoices for Schedule C.
What to check first
- Does your client want to pay in naira or dollars, and from which kind of account?
- Do you have a business registered where the processor operates? If not, a link from your own account is not an option.
- If you use a link, which fee schedule applies on the day, and is VAT added?
- Where will the money settle, and what will converting it cost?
- Is your invoice clear about who bears processing fees?
Where Pryme fits
A Pryme Business Account can be opened from the US and gives you naira account details, so a Nigerian client can pay you by ordinary transfer without a merchant link. The naira stays naira until you choose to swap it; the app shows the rate and the fee before you approve. See business multicurrency accounts. Outside Nigeria, Pryme's services are provided through regulated partners.
Questions people ask
Can I use my client's Paystack link to receive money?
No. A payment link pays the merchant who created it. A link your client sends you is for paying them.
Can a US LLC open a Paystack account?
Paystack's support centre says its services are only for businesses registered in Nigeria, Ghana, South Africa and Kenya (edited 15 September 2026), so a US-only business does not qualify.
How much does Paystack charge on a naira payment?
Its Nigeria pricing page lists 1.5% plus ₦100, with the ₦100 waived under ₦2,500 and the fee capped at ₦2,000, as at October 2026. Check the page on the day.
Do I pay US tax if the money stays in Nigeria?
If you are a US tax resident, income is reportable wherever it is paid; the IRS says you must report income whether or not you receive a Form 1099-K.
Sources
- Paystack Support: Which countries is Paystack available in? (edited 15 Sep 2026) · accessed Oct 2026
- Paystack: Pricing (Nigeria) · accessed Oct 2026
- Flutterwave: Pricing (Nigeria) · accessed Oct 2026
- IRS: Understanding your Form 1099-K (reviewed 28 Jun 2026) · accessed Oct 2026
This article is general information, not financial, legal or tax advice. Products described are provided under the terms on this site and are subject to regulation and eligibility.