Earlier this week, Nigerian fintech start-up, Paga hit a Milestone of 10 Million Customers. Now, Paystack has followed suit as they recorded a ₦10 billion value in monthly transactions.
The company in a blog post said, customers are now paying over $27.5 million to Paystack merchants every month.
“We’re thrilled to announce that we’ve hit our next transaction milestone: customers are now using Paystack to pay over 10 billion naira (~$27.5 million) to Nigerian merchants, every month… It’s worth noting that this figure doesn’t include the transaction value we process in global currencies, and doesn’t reflect what we process through transfers.” The blog post said.
See Also: Paystack Raises $8m Series A Funding from Stripe, Visa, Tencent And Other Angel Investors
Paystack was developed in 2015 by Ezra Olubi and Shola Akinlade who identified a gap in how merchants receive payments from customers. With Paystack, users can pay with local and international cards, or directly from their bank accounts. It also supports localized payment channels, including mobile money, QR code, and USSD payments.
Recently, Paystack raised $8 million Series A funding from International Fintech Companies, Stripe, Visa, and Tencent following it’s major $1.3m seed funding in 2016.
Paystack was also named among the seven fastest growing fintech startups in the World by CB Insights, a tech market intelligence platform.
⚡️ Hi team, we're excited to announce a new transaction milestone: customers are now using Paystack to pay over 10 billion naira (~$27.5 million) to businesses, every month! https://t.co/zj2WLDYif8
— Paystack (@paystack) November 1, 2018
2018 has been an incredible year for our incredible community of businesses. Here’re snapshots of how far we’ve come together between our last milestone and this one.
1/ Monthly transaction value grew 10x pic.twitter.com/jSR9GSIgmB
— Paystack (@paystack) November 1, 2018
2/ Number of transactions processed each month on Paystack grew 15.9x pic.twitter.com/aZhyllLR6u
— Paystack (@paystack) November 1, 2018
3/ Number of live Paystack merchants grew 6x pic.twitter.com/g8cq1hO5Hq
— Paystack (@paystack) November 1, 2018
4/ The size of the Paystack team grew 2.4x pic.twitter.com/omUQMOBuKb
— Paystack (@paystack) November 1, 2018
5/ And here’s a timeline of Paystack’s transaction milestones from the last three years pic.twitter.com/C4cSpyCh8L
— Paystack (@paystack) November 1, 2018
Every transaction on Paystack is a hard-won victory, made possible by a truly remarkable community of merchants, team members, and partners. Thank you to everyone who inspires us to do, and dare more! ❤️🎉✨ https://t.co/zj2WLDYif8 pic.twitter.com/HDxujehpA8
— Paystack (@paystack) November 1, 2018
