Nigeria: Paystack Enters Nigerian Banking With Microfinance Acquisition

Nigeria: Paystack Enters Nigerian Banking With Microfinance Acquisition

Paystack, the Nigerian fintech owned by Stripe, has moved into banking with the acquisition of Ladder Microfinance Bank, giving it the ability to hold deposits and lend after a decade focused on payments.

Paystack Enters Banking Space With Ladder Microfinance Bank Acquisition

By Adedapo Adesanya Nigerian-born payments company, Paystack, has announced its entry into the banking sector with the launch of Paystack Microfinance Bank (Paystack MFB) after the acquisition of Ladder Microfinance Bank. The bank continues Paystack’s push into consumer products and adds a banking layer to its business-focused payment product, coming ten years after the company was […]

Stripe-Owned Paystack Enters Banking, Expanding Beyond Payments

Paystack, the West African payment gateway fintech, has entered Nigeria’s banking sector after acquiring Ladder Microfinance Bank, a major expansion beyond payments for the Stripe-owned company. The acquisition gives Paystack a microfinance banking licence and allows it to operate a new entity, Paystack Microfinance Bank (Paystack MFB), nearly a decade after the company launched in Nigeria.The move follows years of Paystack operating as one of t…

Paystack Makes Banking Play With Ladder MFB Acquisition

Paystack has completed the acquisition of Ladder Microfinance Bank as it moves to transition from a payments-focused model into regulated banking operations. The transaction provides Paystack with a microfinance banking licence, enabling the fintech firm to expand its role within Nigeria’s financial system. The move allows the company to operate a deposit-taking institution, extend credit, and […] The post Paystack Makes Banking Play With Ladder…

Paystack's Foray Beyond Payments Faces Rugged Rivals In Belated Push

After a decade as the quiet backbone of Nigeria’s online payments, Stripe-owned Paystack is making a shrewd and decisive pivot into banking, as part of a broader recent foray beyond business payments, while hoping it’s not too late to the party. Its latest move; the acquisition of Ladder Microfinance Bank, which has birthed a new separate company Paystack MFB—along with previous moves that saw it fold consumer play Zap into its stack and pick up…