Nigerian payments firm Paystack has received a Payment Service Provider Authorisation from the Central Bank of Kenya, which permits it to provide payment services to businesses operating in Kenya.
These announcements comes after Paystack was acquired by Stripe in October 2020 for $200 million after raising a total of about $12 million to help firms to accept both one-time as well as automated recurring card payments, collect payments from customers through several local and global payment channels, including M-Pesa, Card payments (Visa, Mastercard, American Express), and Apple Pay.
Launched in 2015 by Shola Akinlade and Ezra Olubi, the YCombinator-backed firm expanded to Ghana in 2018 and to South Africa in 2021. Apart from merchant payments, Paystack’s Shopiy-like no-code Commerce tools (Payment Pages, Storefronts) help merchants to bring ideas to market beautifully and also monitor their business with the Paystack Merchant App.
With the Payment Service Provider Authorisation from the Central Bank of Kenya, the firm has launched a private beta in Kenya. The firm will work with an initial group of businesses to refine its platform in Kenya, implement feedback, and ensure that its builds a fast, reliable, truly delightful payment experience.
The firm brought the full Paystack experience to Kenya to allow business in Kenya to accept both one-time as well as automated recurring card payments, collect payments from customers through several local and global payment channels, including M-Pesa, Card payments (Visa, Mastercard, American Express), and Apple Pay, get settled in both Kenyan Shillings and USD and use the Paystack Developer Documentation to build incredible custom payment experiences.
Merchants could also integrate with its extensive inventory of plugins to collect payments through world-class tools such as Shopify, WooCommerce, and Wix and use its no-code Commerce tools (Payment Pages, Storefronts, etc.) to bring ideas to market beautifully. Users can also monitor their business on-the-go with the Paystack Merchant App.