Paystack is looking beyond helping businesses receive payments as the Nigerian fintech company expands into banking, consumer finance and emerging technologies.
The company’s ambition reflects a shift in how it plans to serve African businesses, many of which need more than payment solutions to manage and grow their operations.
Speaking at Moonshot 2026 in Lagos on October 29, co-founder and CEO Shola Akinlade discussed the company’s plans to address more of the financial needs of businesses as it enters its second decade.
The expansion builds on the creation of The Stack Group (TSG), Paystack’s parent company, announced in January 2026. The group brings together different businesses, including Paystack, consumer payments platform Zap, Paystack Microfinance Bank and TSG Labs, its venture studio.
Each business focuses on a different area. While Paystack continues to handle merchant payments, Zap targets consumer transactions, and the microfinance bank provides banking services. TSG Labs explores emerging technologies and develops new products.
Artificial intelligence and stablecoins are among the technologies the group is exploring as it looks for new ways to improve financial services and business operations.
Paystack’s expansion comes after significant growth since its acquisition by global payments company Stripe in 2020. According to the company, its total payment volume has increased more than twelvefold since the acquisition.
It also announced that the group had achieved profitability in January 2026, giving it a stronger financial position to explore new business opportunities.
However, expanding into banking and consumer finance means entering markets with established competitors. Building customer trust, maintaining regulatory compliance and delivering reliable services will be important as the company develops its newer businesses.
For Paystack, the goal is no longer limited to helping businesses collect money. It is looking to build a wider technology and financial services ecosystem that can support African businesses at different stages of growth.