Nigerian fintech startup, Paystack, has announced its official launch in South Africa on Thursday.
Product marketer at Paystack, Abdulrahman Jogbojogbo, said the payment solution company, which is actively present in Nigeria and Ghana is expanding its tentacles to the southern part of Africa.
Jogbojogbo 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.”
Since Stripe acquired Paystack in a $200m deal, the company has been relatively quiet.
Prior to the launch, a six-month pilot had kickstarted. The presence of Paystack in South Africa will increase the presence of Stripe on the continent to three nations.