Paystack Isn’t Just About Payments Anymore — And That’s a Big Deal

For years, Paystack had one job: help African businesses get paid online, easily and reliably. It did that so well that Stripe bought the Nigerian fintech for $200 million, turning it into one of Africa’s biggest tech success stories.

Most startups would stop there.

Paystack didn’t.

Quietly, and without much noise, the company has entered a new phase, one that signals it wants to be more than a payments company. Enter The Stack Group (TSG).

The Move That Changes Everything

Think of The Stack Group as Paystack’s new umbrella. Instead of everything living under one brand, TSG now sits at the top, overseeing Paystack and its newer experiments.

Under this structure are:

• Paystack (still focused on merchant payments),
• Zap, its consumer payments app
• Paystack Microfinance Bank, and
• A venture studio building entirely new products.
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Same DNA. Bigger ambition.

Why Now? Follow the Money (and the Momentum)

This shift didn’t happen by accident. Since Stripe acquired Paystack in 2020, the company has grown its payment volumes more than 12 times and reached profitability.

That matters.

Profitability gives Paystack something rare in African tech: room to experiment without risking the core business. Payments still pay the bills, but now there’s space to explore banking, consumer finance, and even emerging tech.

One Company, Many Lanes

Here’s the smart part: separating these businesses actually sharpens focus.

Paystack can remain laser-focused on merchants. Zap and Paystack MFB can chase Nigeria’s competitive consumer finance market without confusing regulators, partners, or customers. And if one experiment struggles, it doesn’t drag everything else down.

It’s not about losing focus—it’s about protecting it.

This Playbook Feels Familiar

Paystack isn’t the first Nigerian tech company to do this. Interswitch and Moniepoint both evolved into holding companies once they outgrew a single product.

The logic is simple: when one company becomes many, structure matters.

TSG gives Paystack the flexibility to build, acquire, pause, or even shut down ideas—without touching its strongest asset.

So, What Happens Next?

Not every bet under The Stack Group will win. Consumer finance is crowded. Scaling beyond payments is hard. And building new products always comes with risk.

But the message is clear: Paystack is thinking long-term.

This isn’t a pivot away from payments. It’s a bet on what comes after mastering them. With The Stack Group, Paystack is setting itself up for the next decade not just the next product launch.

And that might be the most interesting part of this story.