Morning Tick
  • Latest News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Fintech
    • Altcoins
  • Market Analysis
  • Resources
  • Contact
    • About Us
    • Press Toolkit
Facebook Twitter Instagram
Morning Tick
  • Latest News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Fintech
    • Altcoins
  • Market Analysis
  • Resources
  • Contact
    • About Us
    • Press Toolkit
Facebook Twitter Instagram
Morning Tick
Financial Services

Stripe enters African business space with acquisition of Paystack

Manas PimpalkhareBy Manas PimpalkhareUpdated:October 16, 2020 on October 16, 2020
Stripe enters African business space with acquisition of Paystack
Image credit: Morning Tick
Share
Reddit Facebook Twitter LinkedIn Pinterest WhatsApp Email

Stripe, an upcoming global leader in payments, has entered Africa to provide ease of access in e-commerce services. The finserv giant has acquired a local company named Paystack to kick off their presence in the region.

Paystack is based in Lagos, and already handles a significant amount of business in Nigeria and Ghana. The company has more than 60,000 connections in the two countries, and already handles half of all transactions in Nigeria. Paystack provides a secure platform for online and offline payments and gives businesses an opportunity to launch new plans and deepen customer relations.

Stripe has found an ideal platform for expansion. In the continent that desperately needs to narrow the gap between its citizens and the internet, Paystack is the perfect investment for creating a firm foundation. 

Stripe plans to let Paystack expand its services into more countries in Africa. After this phase, Paystack will be inducted into Stripe’s Global Payments and Treasury Network (GPTN), a platform for global movement of financial resources. The GPTN spans across more than 40 countries currently. 

Paystack founder and CEO Shola Akinlade stated the importance of a company like Stripe entering the African marketplace and confirmed his support of this joint venture.

Akinlade also mentioned the nationwide protests in Nigeria, which are calling out the recent incidents of police brutality. He said that the African community was doing everything it could to help the movement and bring peace to the continent. 

Stripe’s business is known worldwide, and its network has seeped deep into the global payments infrastructure. The company’s efforts to build special APIs in its payments services would prove to be incredibly helpful in this acquisition. With e-commerce businesses growing in the continent at an astounding rate, Stripe and Paystack have a large market arena to conquer. 

Financial Services Fintech Stripe
Disclaimer
Read More Read Less
The information provided on this website shouldn’t be considered as investment, tax, legal, or trading advice. Morning Tick is not an investment advisory platform, nor do we intend to be. The publication, its’s management team, or authored-by-line doesn’t seem liable for your personal financial losses, which may be due to your panic decisions based on the content we published. We strongly recommend considering our stories as just a piece of information, unlike advice, recommendations, or requests. Some of the contents may get outdated, updated, or inaccurate despite our profound editorial policies. We urge readers to do their due diligence before making any investments decision with ongoing IDOs, ICOs, IEOs, or any other kind of financial offerings. Few outbound links may be commissioned or affiliated, which helps us grow financially and maintain healthy editorial norms. For more information, visit disclaimer page.
Share. Facebook Twitter Pinterest LinkedIn Email Reddit WhatsApp
Previous ArticleSouth Korean banks call for crypto regulation and virtual asset business law
Next Article Visa acquires minority stake in Brit fintech Global Processing Systems
Manas Pimpalkhare
  • Twitter

Aspiring Tech Journalist, Lawyer-to-be, has a keen interest in cybercrime and disruptive tech like AI, 5G, and crypto.

Recommended Posts

As XRP slumps below $0.30 once again, will it ever hit $1?

January 14, 2021

UK Challenger Bank Revolut applies for British banking license

January 11, 2021

Goldman Sachs and Aramco-backed fintech Wahed takes over UK-based Niyah

December 17, 2020

Visa-backed paytech firm behind Revolut and Starling Bank partners with Vacuumlabs

December 16, 2020
Add A Comment

Comments are closed.

Latest

Introducing Lucky Mystery Box, Crypto lottery based on TRON with a prize pool of 1M USDT

2 months ago

GlobalDots joins forces with Coralogix to save companies 40-70% on full-stack observability costs, launching a debut CDN log management solution

3 months ago

KX.finance announces upcoming DeFi/DEX aggregator launch on APTOS/SUI blockchain

4 months ago

HyperBC Group unveils Zero interest Crypto Credit Card HyperCard, obtains Lithuanian Financial License

4 months ago

Unplugged launches its mobile App Suite to help consumers reclaim their privacy

4 months ago
Morning Tick
Facebook Twitter Instagram Pinterest RSS
  • About Us
  • Press Toolkit
  • Disclaimer
  • Contact Us
  • Privacy Policy
  • Sitemap
© 2023 Morning Tick. Disclaimer: The information provided on this website shouldn't be considered as investment, tax, legal, or trading advice.

Type above and press Enter to search. Press Esc to cancel.