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Paystack Acquired by Stripe

An EFSA member, Paystack, which is headquartered in Nigeria, has been acquired by global payments leader Stripe in a deal said to be worth more than US$200 million. Paystack is a payments company that helps businesses in Africa get paid by anyone, anywhere in the world. The company processes over 50% of all web payments in Nigeria, powering payments for over 60,000 organisations, including FedEx, UPS, MTN, and many others.  Stripe’s payments software is used by customers including Amazon, Google, Shopify and Zoom, and its acquisition of Paystack is the latest move in its international expansion. Paystack will be Stripe’s catalyst for growing internet commerce in Africa, starting with a pilot in South Africa.

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Alastair Tempest

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