Nigerian fintech startup, Paystack, launched in South Africa on Thursday.
The payment solution company, which operates in Nigeria and Ghana, is expanding its tentacles to the southern part of Africa.
Product Marketer, Paystack, Abdulrahman Jogbojogbo, while speaking with Techcrunch, said, “The opportunity for innovation in the South African payment space is far from saturated. Today, for instance, digital payments make up less than half of all transactions in the country,
“So, the presence of competition is not only welcome; it’s encouraged. The more innovative plays there are, the faster it’ll be to realize our goal of having an integrated African market.”
In a newsletter sent to its customers on Thursday, the company said, “Over the past six months, we ran a pilot in South Africa and worked very closely with incredible developers and business owners.
“They helped us appreciate the local commerce landscape and deepen our understanding of your needs.
“We also helped hundreds of businesses — tech startups, e-commerce stores, agencies, and creators — get paid online, and built out our team in South Africa to better serve you.
“We learnt so much during the pilot, and today, we’re thrilled to open our doors to everyone.”
According to the company, it services over 60,000 businesses of all sizes — from tech startups, e-commerce stores, and agencies, to familiar names, such as MTN and SPAR.
Since Stripe acquired Paystack in a $200m deal, the company has been relatively quiet. Prior to the launch, a six-month pilot had kick-started. The presence of Paystack in South Africa will increase the presence of Stripe on the continent to three nations. Punch