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The short answer
A payment link is a web address, created by a payment gateway or business account provider, that opens a hosted checkout page where the customer pays by card, bank transfer or USSD. The provider collects the money and settles it to your account, less a fee. As an example, Paystack's pricing page lists 1.5% plus ₦100 for local transactions, capped at ₦2,000, with settlement the next working day.
For a business selling on Instagram, WhatsApp or by phone, the usual way to get paid is to send account details and wait for a screenshot. A payment link replaces that with a page that collects the payment and records it against an amount and a description. This guide explains how links work, what they cost, and when they are worth the fee.
How a payment link works
- You create a link in your gateway or business account dashboard, setting the amount (or letting the customer enter it), a description and sometimes a customer email.
- You send the link by WhatsApp, SMS, email or social media, or embed it in an invoice.
- The customer opens it and chooses how to pay: card, bank transfer to a temporary account number, USSD or other options the provider supports.
- The provider confirms the payment to both of you, typically by email and in your dashboard.
- The provider settles the money to your bank account on its settlement cycle, after deducting its fee.
Because the payment is tied to the link, you see who paid, how much and for what without matching a bank credit to a chat message.
What links cost
Pricing differs by provider and changes, so always check the provider's own page. As one published example, Paystack's Nigeria pricing page (undated, checked October 2026) lists:
| Item | Paystack's listed price |
|---|---|
| Local transactions (cards, USSD and similar) | 1.5% + ₦100 |
| Flat ₦100 waived | For transactions under ₦2,500 |
| Cap on local fees | ₦2,000 per transaction |
| International cards | 3.9% + ₦100 |
| Settlement | Next working day (T+1) |
The pricing page does not mention payment links separately; check whether a link payment is charged at the same rate in the provider's dashboard or help pages.
Worked example
Example only, using Paystack's listed local rate. On a ₦20,000 order, the fee is 1.5% of ₦20,000 (₦300) plus ₦100, so ₦400, and you receive ₦19,600. On a ₦2,000 order, the ₦100 is waived, so the fee is ₦30 and you receive ₦1,970. On a ₦300,000 order, 1.5% plus ₦100 would be ₦4,600, but the ₦2,000 cap applies, so you receive ₦298,000.
When a link beats sending account details
| Situation | Better choice | Why |
|---|---|---|
| Customer wants to pay by card | Link | Account details only take transfers |
| Many small orders a day from strangers | Link | Each payment is matched to an order, cutting fake screenshot risk |
| Overseas customer | Link (if international cards are accepted) | They may not have a Nigerian bank app |
| Repeat customer paying a large sum by transfer | Account details | A direct transfer avoids a percentage fee |
| Business client paying an invoice | Either; agree in advance | Many corporate accounts teams pay only by transfer to registered details |
Fake payment proofs are a common problem for online sellers. A link that confirms payment through the provider, rather than a screenshot from the buyer, removes much of that risk. See how to spot a fake transfer receipt.
What to check before choosing a provider
- Is the provider licensed by the CBN for the service it offers? Check the provider's site and the CBN's published lists.
- The fee per payment method, any cap, and whether you or the customer bears it.
- Settlement timing and whether weekends count.
- Refund process: Paystack's refund documentation, for example, says refunds may take up to 10 business days to reach the customer after processing.
- Chargeback rules for card payments, which can reverse a payment weeks later.
- Whether links can be single-use with a fixed amount, which prevents overpayment and reuse.
Using links well
- Create one link per order or invoice, with the exact amount, rather than a single open link for everything.
- Put the order or invoice number in the description so the confirmation matches your records.
- Tell customers which domain the link will come from, and never ask them to pay through a link sent by someone else on your behalf. Fraudsters copy business names to send lookalike links.
- Release goods only when the provider confirms payment in your dashboard, not when the customer says they have paid.
- Reconcile settlements weekly: the total settled should equal payments received minus fees and refunds.
A link can also sit inside an invoice. The invoice remains the formal demand, with your terms, tax lines and due date; the link is just one way to pay it. Put the invoice number in the link description so a payment through the link closes the right invoice. See what to put on an invoice.
Customers paying by transfer through a link may also bear the ₦50 stamp duty on electronic transfers of ₦10,000 or more that applies from 1 January 2026, borne by the sender, according to Techeconomy (January 2026).
Where Pryme fits
A Pryme Business Account offers bank-transfer checkout free of charge, and supports invoicing. On the example ₦20,000 order, 0.5% would be ₦100; on ₦300,000 it would be ₦1,500. Compare routes in how to get paid in Nigeria and NQR code payments.
Questions people ask
What is a payment link in Nigeria?
A web link from a payment provider that opens a checkout page where your customer pays by card, transfer or USSD. The provider confirms the payment and settles it to your account, less a fee.
How much does Paystack charge for payment links?
Paystack's pricing page lists 1.5% plus ₦100 for local transactions, with the ₦100 waived under ₦2,500 and fees capped at ₦2,000. The page does not list links separately, so confirm in your dashboard.
Is a payment link safer than sending my account number?
It reduces the risk of fake screenshots, because the provider confirms the payment itself. Always check that the provider is licensed and that settlement reached your account.
How long before payment link money reaches my account?
It depends on the provider. Paystack's pricing page states settlement on the next working day (T+1).
Sources
- Paystack: Pricing (Nigeria), undated page · accessed Oct 2026
- Techeconomy: Stamp duty replaces EMTL, sender to bear ₦50 charge on bank transfers (1 Jan 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.