It is one of the biggest start-up acquisitions on the continent. The Nigerian online payment leader Paystack has been bought by the American payment juggernaut Stripe. The announcement was made this Thursday, October 14 by the American company.
« Online commerce is growing 21% year over year and 75% faster than the global average… More than 60,000 businesses in Nigeria and Ghana use Paystack to receive payments online and offline. security and develop new business models… this acquisition will give Paystack the resources to develop new products […] and consolidate the hyperfragmented African payments market » the American company announced in the press release announcing the takeover. The American company is valued, according to the latest estimates, at 36 billion dollars.
For the managers of Stripe, Paystack achieved in 5 years, which could not be done in the previous decade. « We are pleased to accelerate our geographic expansion and introduce more payment methods, more value-added services and deeper integration with global platforms » as for him asserted Shola Akinlade, co-founder of Paystack