Stripe-backed Paystack, a Nigerian fintech startup that provides online payment solutions for businesses across Africa, announced Thursday that it has officially launched its services in Kenya after a 10-month beta testing period.
The company aims to provide online payment solutions for businesses and help spur commerce across Africa. It currently operates in Nigeria, Ghana, South Africa and Kenya.
“We’re thrilled to bring our payments and business growth tools to even more ambitious businesses across Africa,” said Vikaran Ubhi – Country Lead, Kenya.
Since opening its Nairobi office last year, over 700 Kenyan companies signed up to beta test Paystack’s services. The beta allowed Paystack to refine its product offering based on user feedback before the full launch.
“We’ve worked very closely with a vibrant community of business owners, developers and partners,” Vikaran said. “With each transaction processed, we’ve learned what works best for you, refined our product, and built a service that we’re excited and proud to share with all of Kenya.”
Paystack is now open for any Kenyan business to sign up and begin using its online payment tools, which include custom APIs for developers, integrations with ecommerce platforms like Shopify and WooCommerce, and no-code tools for small businesses.
The company said the Kenyan beta helped shape its product roadmap for the market. Upcoming feature updates will include faster payout timelines, direct bank transfers and a new “Pay with Bank Transfer” option.
Since its founding in 2015, Paystack has expanded rapidly across Africa with the goal of accelerating commerce on the continent. The company processes payments for over 60,000 businesses in Africa today.
“Some of the themes that motivate and excite us include: how do we make it absurdly easy to start – and scale – a business in Africa?” said Vikaran in a blog post.
The full Kenya launch comes after Paystack received regulatory approval from the Central Bank of Kenya last year. The company has grown to over 250 employees across Africa.