Paystack

What Paystack does

Paystack is a Nigerian-headquartered payments technology company that enables African businesses to accept payments online and offline through a single integration covering cards, bank transfers, USSD, Apple Pay, Visa QR, mobile money, and POS. Founded in 2015 by Shola Akinlade and Ezra Olubi, the company operates a unified Checkout form backed by direct bank integrations and intelligent transaction routing that delivers industry-leading card success rates, a comprehensive REST API suite for transactions, subscriptions, transfers, subaccounts, verification, partial debits and split payments, and a merchant dashboard rebuilt in 2026 with an AI-native Command Centre. Underlying infrastructure runs on AWS (Ireland region), is PCI DSS Level 1 and ISO 27001/27701 certified, and is delivered through self-serve signup for SMBs and dedicated relationship management for enterprise/government clients.

The business monetizes primarily through percentage-based transaction fees (1.5% + NGN 100 capped at NGN 2,000 for local; 3.9% for international) supplemented by tiered transfer fees, dedicated virtual account fees, SmartPeak P1000 POS hardware sales, business incorporation services via Brass, and — post-Ladder Microfinance Bank acquisition — deposit, lending and Banking-as-a-Service revenue via Paystack MFB. GTM combines product-led self-serve (signup-to-live-payments in under 15 minutes), enterprise field sales with relationship managers, an API-first developer go-to-market, a Service Partner Program for agencies, and channel partnerships across e-commerce, accounting, identity, and communications platforms. Customers span corporates and government bodies (MTN, AXA Mansard, LIRS, FAAN, NIPOST), large fintechs (Kuda, PiggyVest, Carbon), consumer brands (Domino's Pizza, Bolt, Iroko TV), and a 200,000+ SMB long tail across Nigeria, Ghana, Kenya, South Africa and Côte d'Ivoire, with Egypt in private beta and Rwanda pre-launch.

Since Stripe's October 2020 acquisition for over $200 million, Paystack has restructured into The Stack Group holding company, led a consortium acquisition of Brass (May 2024), acquired Ladder Microfinance Bank and rebranded it as Paystack MFB (January 2026), launched the consumer-facing Zap app, and rolled out a redesigned AI-native dashboard, positioning itself as a full-stack African payments plus banking platform and a regulatory-flagged partner on CBN AML/CFT and virtual-asset supervisory pilots.

Name

Paystack

Legal name

Paystack Payments Limited

Website

https://paystack.com

Company type

Private

Founded year

2015

Operating status

Operating

Headcount range

101–250 employees

Short description

Paystack is a Stripe-owned Nigerian payments technology company that enables African businesses to accept online and offline payments via APIs, checkout, POS, and now Banking-as-a-Service through Paystack Microfinance Bank, serving over 200,000 businesses across seven African markets.

Ownership category

akta.pro rank

Product category

Online Payments & Merchant Financial Infrastructure

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Depository Credit Intermediation (5221)

SIC

Finance Services (6199), Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Marketplace / Platform Acquiring (PayFac & Sub-Merchant Management) (FSAMABAF)

akta.pro secondary industries

Merchant Payment Gateways (API/Hosted Checkout) (FSAMACAA), Payouts, Disbursements & Mass Payments Infrastructure (FSAGABAN), Marketplace & Platform Seller Payouts (FSAMAKAE), Embedded Payments (Pay-ins, Pay-outs, Wallets) (FSAGALAB)

Keywords

• Online payment gateway
• Payment processing platform
• Merchant payment services
• Payment API infrastructure
• Mobile payment solutions

Headquarters

HQ city

Ikeja

HQ country

Nigeria

HQ region

Africa

Offices7 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Technology or R&D, Personnel, Infrastructure, Marketing or Sales, Operations, Supply Chain

Revenue model

1. Transaction Fees: Paystack charges a percentage-based fee per successful transaction; 1.5% + NGN 100 for local transactions (capped at NGN 2,000) and 3.9% for international card transactions; the primary revenue model with 'no money unless you make money' positioning
2. Transfer Fees: Tiered per-transfer fees: NGN 10 for transfers up to NGN 5,000; NGN 25 for transfers between NGN 5,001 and NGN 50,000; NGN 50 for transfers above NGN 50,000
3. Hardware Sales (POS Terminals): Sale of SmartPeak P1000 physical POS terminals at NGN 100,000 (live) or NGN 85,000 (test), plus per-transaction fees on terminal transactions
4. Business Registration Services: In partnership with Brass, offers business incorporation services with pricing from NGN 3,500 for TIN registration up to NGN 140,000 for NGO registration
5. Banking-as-a-Service / Lending: Post-Ladder Microfinance Bank acquisition, Paystack now offers deposit-taking, credit and lending, and BaaS capabilities to businesses and consumers in Nigeria

Pricing tiers

Go-to-market motion5 records

Distribution channels3 records

Marketing channels13 records

Core offering

Paystack is a modern online and offline payments gateway for African businesses, combining a Checkout form, an AI-powered Dashboard, and a comprehensive REST API suite to help businesses in Africa accept payments from anyone, anywhere in the world. Merchants can accept card, bank account, bank transfer, USSD, Apple Pay, Visa QR, mobile money, and POS payments through a single integration, with intelligent routing, T+1 settlement, advanced fraud detection, identity verification, and subscription management. The platform extends into a regulated banking subsidiary (Paystack Microfinance Bank) for deposits, lending, and Banking-as-a-Service.

Product overview

Paystack is a single unified online and offline payments platform for Africa with a platform-plus-modules architecture, layered with a regulated banking subsidiary. The core product surface consists of the Paystack Checkout form, the AI-native Paystack Dashboard, and the Paystack REST API suite (transactions, subscriptions, transfers, verification, subaccounts, partial debits, etc.). On top of this core, Paystack offers modular products including the Paystack Terminal (physical SmartPeak P1000 POS and Virtual Terminal), Paystack Commerce (Storefronts, Orders, Inventory, Payment Pages), Paystack Invoices, Transfers, Recurring Billing, Verification (BVN/Account), Dedicated Virtual Accounts, the Paystack Mobile App, and the consumer-facing Paystack Zap app. Around the platform sits the regulated Paystack Microfinance Bank (Paystack MFB) — created from the Ladder Microfinance Bank acquisition — which adds deposit-taking, lending and Banking-as-a-Service; the recently absorbed Brass banking product; the Paystack Business Registration service; and the Paystack Small Business Programme/Bundle. Paystack is a Stripe company and operates regional offerings across Nigeria, Ghana, Kenya, South Africa, Côte d'Ivoire, Egypt (private beta) and Rwanda (pre-launch).

Differentiator

Problem solved

Functional benefit

Brands

• Zap: Consumer-facing financial app launched in November 2024 enabling fast bank transfers and online payments in Nigeria.
• Paystack Commerce
• Paystack Terminal
• Paystack Virtual Terminal
• Paystack Microfinance Bank (Paystack MFB)
• The Stack Group

Products and services

• Paystack Checkout Modern, on-brand payment checkout form supporting cards, bank accounts, bank transfers, USSD, Apple Pay, Visa QR, mobile money and POS with smart error resolution that suggests alternative channels if a transaction fails. No redirects; keeps customers on the merchant's page. Used by businesses across Africa to accept online and offline payments.
• Paystack Dashboard (AI-native rebuild) Merchant-facing analytics, reporting and operations console rebuilt in May 2026 with an AI-native Command Centre that answers plain-language questions grounded in the merchant's own Paystack data via GPT models combined with structured data retrieval. Provides full mobile parity, simplified product architecture, customer insights, transaction exports, user permissions, chargeback management and settlement analytics.
• Paystack APIs Public, well-documented REST API suite covering Transactions, Subscriptions, Transfers (single and bulk), Subaccounts, Customers, Settlements, Verification (BVN, account number, phone), Partial Debits, Check Authorization, Charge Authorization, Invoices, Disputes and Refunds. Includes webhooks and client libraries/plugins for PHP, JavaScript and other ecosystems. Used by global brands and African fintechs to build custom payment experiences.
• Paystack Terminal (Physical POS — SmartPeak P1000) In-person payment terminal (SmartPeak P1000) supporting multiple channels (card, USSD, bank transfer), end-of-day accounting, split payments, and blazing-fast connectivity. Available for purchase at NGN 100,000 (live) or NGN 85,000 (test) per device.
• Paystack Virtual Terminal Software-based in-person payment acceptance with zero hardware costs that enables merchants to accept blazing-fast in-person payments at scale. Particularly promoted for the Côte d'Ivoire market alongside card, USSD, bank transfer and local-card options.
• Paystack Zap Paystack's consumer-facing finance app that enables fast bank transfers (in 30 seconds) and now issues accounts via Fidelity Bank while integrating with Paystack Checkout for online payments. Positioned against OPay, Kuda and Moniepoint in Nigeria's consumer fintech space.
• Paystack Microfinance Bank (Paystack MFB) Regulated banking entity formed when Paystack acquired Ladder Microfinance Bank on January 14, 2026 and rebranded it. Enables Paystack to accept deposits, issue loans, and offer Banking-as-a-Service. Initially focuses on business lending using real-time payment data from 300,000+ Nigerian merchants, with consumer banking and BaaS products planned.
• Paystack Business Registration Service that combines Paystack with Brass to incorporate Nigerian companies and open a corporate bank account in just a few clicks. Supports TIN/JTB registration, Business Name (sole proprietorship), Limited Liability Company, Limited Partnership, Limited Liability Partnership, and NGO registrations, with pricing starting at NGN 3,500 and completion in 7–9 working days.
• Paystack Commerce Toolkit for African creators and merchants to sell physical and digital products online, including Storefronts (multi-product pages with images/GIFs/video, variants, brand colors, WhatsApp chat), Orders management (push notifications, fulfillment, refunds), Inventory management, and Payment Pages. Integrates with Wix, WooCommerce, Shopify and others.
• Paystack Small Business Programme / Bundle Programme launched June 2026 to support 2,000 Nigerian SMBs with the Paystack Small Business Bundle (up to NGN 4 million / US$3,000 in discounts across 14 partners in commerce, bookkeeping, logistics and digital tools). Later stages include the Paystack Small Business Launchpad and Paystack Small Business Grant.
• Paystack on Flowcart (WhatsApp commerce) Integration product enabling African businesses to sell on WhatsApp and get paid instantly using Paystack via the Flowcart conversational commerce platform. Targets merchants using WhatsApp for commerce.
• Capitec Pay on Paystack Instant Capitec Pay bank payment method for South African merchants. Lets customers approve payments instantly in their Capitec banking app, expanding Paystack's local payment method coverage in the South African market alongside Scan to Pay, Ozow EFT, and SnapScan.
• Paystack Egypt (Private Beta) Private beta product for Egyptian merchants supporting Visa, Mastercard and Meeza cards with EGP settlement, plus subscription billing, payout splitting, and integration with Shopify, WordPress and other platforms.

Quantifiable outcome

• Processes over 50% of all online transactions in Nigeria (corporates)
• +10 more outcomes

Named customers37 records

Segments8 records

Ideal customer profiles8 records

Technology focussed Yes

API detail

Has API

Yes

API docs

API detail

Core technology

AI maturity

App detail

Integration70 records

AI capability9 records

Feature9 records

Partnerships

21 partnerships are on record, tiered major, flagship, moderate and minor.

• PiggyVestmajorStrategic or Co-development PartnerPiggyVest participated in the Paystack-led consortium that acquired Brass in May 2024; both are key Nigerian fintech players and use Paystack infrastructure; the partnership signaled strategic alignment in saving/investment vertical
• Brass (Nigerian business banking startup)majorStrategic or Co-development PartnerPaystack led a consortium (with PiggyVest, Ventures Platform, P1 Ventures, and angel investors Oo Nwoye and Olumide Soyombo) that acquired Brass in May 2024 to address liquidity issues; Brass customers migrated to Paystack MFB by July 31, 2026; Paystack and Brass co-offer business incorporation services
• Ladder Microfinance BankflagshipOEM/ Whitelabel/ Licensing PartnerPaystack acquired Ladder Microfinance Bank on January 14, 2026 and rebranded it as Paystack Microfinance Bank (Paystack MFB); provides Paystack with a regulated banking licence to accept deposits, issue loans, and offer BaaS
• Apple PaymajorTechnology or IntegrationPaystack accepts Apple Pay from millions of Apple Pay users in 60+ countries, including the USA, UK, and Canada; provides improved success rates for international transactions
• Zenith BankmoderateChannel Partner/ Reseller/ DistributorZenith Bank domiciliary accounts are used for Paystack's USD settlement pilot; enables merchants to receive international payments settled in USD
• Xero (via Stripe)moderateTechnology or IntegrationPaystack integrates with Xero via Stripe to enhance payment digitization for South African businesses; enables faster reconciliation, real-time financial insights, and supports local payment methods
• Capitec Pay (South Africa)moderateTechnology or IntegrationPaystack added Capitec Pay in February 2026 to accept secure, real-time bank payments in South Africa with customers approving payments instantly in their banking app
• M-PESA (Safaricom, Kenya)majorTechnology or IntegrationPaystack integrates with M-PESA mobile money in Kenya as a primary payment method
• FlowcartmoderateTechnology or IntegrationPaystack went live on Flowcart in April 2026, enabling African businesses to sell on WhatsApp and get paid instantly
• Federal Airports Authority of Nigeria (FAAN)majorStrategic or Co-development PartnerPaystack partnered with FAAN on the 'Operation Go Cashless' initiative launched at Lagos and Abuja airports in September 2025; contactless payment terminals deployed at access gates, car parks, and VIP lounges; full nationwide enforcement March 1, 2026
• NIPOST (Nigerian Postal Service)majorStrategic or Co-development PartnerPaystack, along with Messenger and Sendbox, partnered with NIPOST to launch a Digital Payment Solution for Inbound Postal Items in Abuja (October 2025) and the digital postcode system (April 2026)
• Grey (fintech)moderateGTM or Marketing PartnerPaystack partnered with Grey and Antler to launch Grey Business at Africa Tech Summit Nairobi (February 10, 2026), a multi-currency payments platform for African startups and SMEs
• AntlerminorGTM or Marketing PartnerAntler partnered with Paystack and Grey to launch Grey Business at Africa Tech Summit Nairobi (February 10, 2026)
• Innovate Africa Foundation (Product Leadership Accelerator)minorGTM or Marketing PartnerPaystack is a mentor-providing partner for the 2026 PLA cohort (48 product managers from 13 African countries); contributes senior practitioner mentorship to the 12-week accelerator
• ShopifymajorTechnology or IntegrationPaystack offers a Shopify plugin enabling online stores to accept payments via Paystack in minutes
• WooCommerce (WordPress)majorTechnology or IntegrationPaystack offers the most popular eCommerce integration via the WooCommerce plugin
• Paystack Startup Bundle Partners (Amplitude, AWS, Intercom, Datadog, Stitch, Printivo, Bento, TalentQL, WiiCreate, Workstation, Termii, Onboardly, Engage, Evervault, Smile Identity, Sendchamp, Native Talk, Dojah, Sidebrief, Identitypass, OneRoute, Ijeworks)moderateGTM or Marketing PartnerThe Paystack Startup Bundle offers discounted access to growth tools and services for high-growth startups; partner roster includes 20+ companies across analytics, infrastructure, identity verification, communications, HR, and more
• Paystack Small Business Programme Partners (14 partner companies across commerce, bookkeeping, logistics, and digital tools)moderateGTM or Marketing PartnerPaystack launched the Paystack Small Business Programme (June 2026) offering up to NGN 4 million (US$3,000) in discounts on tools and services from 14 selected partners; targets 2,000 Nigerian SMBs
• Fidelity Bank (Nigeria)moderateTechnology or IntegrationFidelity Bank issues accounts through the relaunched Paystack Zap consumer app following the CBN fine and Paystack's licence compliance efforts
• OpenAImoderateTechnology or IntegrationOpenAI's GPT models are used in Paystack's AI-native Command Centre Dashboard to enable natural-language queries grounded in merchant payment data; data processing governed by Data Processing Agreement
• Amazon Web Services (AWS)majorTechnology or IntegrationPaystack uses AWS as its cloud storage solution with servers in Ireland; powers Paystack's payment infrastructure across markets

Scale indicators13 records

Recent moves8 records

Expansion highlights6 records

Broad incumbents

• Checkout.com: Global payments platform with strong emerging-markets coverage and enterprise focus; comparable to Paystack's enterprise segment and 'global brands' use case for accepting African payments.
• Interswitch: Established Nigerian payment processing incumbent with broader portfolio across card issuing, switching, and banking infrastructure. Competes with Paystack on enterprise merchant acquiring and government/enterprise collections (e.g., LIRS-type use cases).
• DLocal: Cross-border payments platform focused on emerging markets including Africa; comparable to Paystack's 'For Global Brands' segment helping international companies accept African payments.
• Adyen: Global enterprise payments incumbent; comparable to Paystack on the enterprise/omnichannel side serving large corporates with multi-channel payment acceptance and direct bank integrations.
• Stripe: Paystack's parent company and global payments incumbent; provides Paystack with infrastructure (Radar, Treasury, Xero integration) but also represents the global benchmark for the product/market fit Paystack is replicating across Africa.

Emerging players

• Chipper Cash: Pan-African consumer payments and remittance fintech serving similar cross-border commerce use cases across Nigeria, Ghana, Kenya, South Africa, and other markets where Paystack operates.
• OPay: Nigeria-focused mobile money and consumer payments super-app competing with Paystack's Zap app and merchant acquiring. Operates in similar SMB merchant acquiring and consumer payment space across Nigeria and other African markets.
• Moniepoint: Nigerian fintech providing POS terminals, merchant acquiring, and digital banking for SMBs. Directly competes with Paystack's Terminal product and merchant services in Nigeria.
• Kuda Bank: Nigerian digital-only bank that both uses Paystack as infrastructure (per customer data) and competes in adjacent consumer/merchant banking space. Useful for comparing consumer banking ambitions versus Paystack MFB.

Direct peers

• Flutterwave: Pan-African payment gateway competitor directly serving Nigerian and broader African merchants with similar online/in-person payment acceptance and enterprise/government customers. Both were also selected by CBN for AML/CFT and virtual-asset supervision pilots, indicating direct regulatory and competitive overlap.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks7 records

Key highlights8 records

Customer concentration

• Xx.com/paystack
• GitHubpaystack.com/developers
• YouTubepaystack.com/tutorials
• Facebookfacebook.com/PaystackHQ
• LinkedInlinkedin.com/company/paystack
• Instagrampaystack.com/subscribe

Compliance6 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries3 records

Funding overview

Funding rounds5 records

Investors20 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Paystack