# Paystack **Source:** https://geo.sig.ai/brands/paystack **Vertical:** Finance **Subcategory:** General **Tier:** Emerging **Website:** paystack.com **Last Updated:** 2026-04-14 ## Summary African payments platform acquired by Stripe in 2020; enables 200K+ businesses to accept local and international payments across Nigeria, Ghana, and Kenya. ## Company Overview Paystack is a payments technology company enabling African businesses to accept payments from customers worldwide through cards, bank transfers, and mobile money. Founded in 2015 in Lagos, Nigeria by Shola Akinlade and Ezra Olubi, Paystack was acquired by Stripe in October 2020 for over $200 million — one of Stripe's largest acquisitions — in a landmark transaction for African fintech. The acquisition gave Stripe a foothold in Africa while providing Paystack with global infrastructure and capital to accelerate growth. Paystack's platform allows businesses in Nigeria, Ghana, Kenya, South Africa, and other African markets to collect payments via a clean API that abstracts the complexity of local payment methods including Nigerian bank transfers, Kenyan M-Pesa, Ghanaian mobile money, and international cards. The company's growth has tracked Nigeria's e-commerce and digital economy expansion, serving thousands of merchants ranging from solo entrepreneurs to large enterprises. In 2025, Paystack continues operating as a Stripe subsidiary while maintaining local brand recognition and product focus for African markets. The company processes billions of dollars in annual payment volume and serves over 200,000 businesses. Paystack's competitive position is strong in West Africa, facing competition from Flutterwave, Interswitch, and newer entrants. Under Stripe's ownership, Paystack has benefited from global infrastructure investments and has expanded its merchant services to include recurring billing, invoicing, and payment links that don't require technical integration. ## Frequently Asked Questions ### What is Paystack? Paystack is Nigeria's leading payment processor that enables businesses to accept payments online. Founded in 2015 and acquired by Stripe for $200M in 2020, it now processes over 50% of Nigeria's online transactions. ### What products and services does Paystack offer? Paystack offers payment processing, online checkout, invoicing, payment links, and Zap instant transfers. These solutions help businesses accept and manage payments across multiple channels. ### Who can use Paystack? Paystack serves businesses across Nigeria, Ghana, Kenya, and South Africa. Their services cater to companies of all sizes that need to process online payments in these markets. ### When was Paystack founded? Paystack was founded in 2015 in Lagos, Nigeria. The company was part of Y Combinator's Winter 2016 batch. ### Where is Paystack located? Paystack is based in Lagos, Nigeria. The company operates across multiple African countries including Nigeria, Ghana, Kenya, and South Africa. ### Who acquired Paystack and for how much? Paystack was acquired by Stripe in 2020 for $200 million. This was Stripe's largest acquisition at the time. ### What are Paystack's key achievements and metrics? Paystack processes over 50% of Nigeria's online transactions and hit ₦1 trillion in monthly transaction volume in July 2024. The company processes approximately $250 million in monthly volume. ### What makes Paystack's technology different? Paystack's newest product, Zap, enables instant mobile transfers in under 10 seconds. This represents their focus on speed and efficiency in payment processing for African markets. ### How can I get started with Paystack? Based on the provided information, businesses interested in Paystack can access their payment processing, online checkout, invoicing, and payment links services. Specific sign-up details are not included in the available information. ### What are Paystack's recent developments? In March 2025, Paystack launched Zap, their first consumer product in 9 years for instant mobile transfers. In July 2024, they reached ₦1 trillion in monthly transactions and acquired Brass, an SME platform. ## Tags africa, api-first, b2b, fintech, payment-processing, scaleup --- *Data from geo.sig.ai Brand Intelligence Database. Updated 2026-04-14.*