Paystack, a Nigerian payment company, has announced that it has got a Payment Service Provider Authorization from the Central Bank of Kenya, allowing it to provide payment services to Kenyan businesses.

Kenya becomes the fourth African country, following South Africa, Ghana, and Nigeria, to grant the startup the necessary permission to operate in complete accordance with rules.

Read also Paystack Integrates Apple Pay for Nigerian Businesses

Paystack has now launched a private beta in the East African country as a result of the licence.

Paystack is the first innovative fintech in the Federal Republic of Nigeria to get funding from Y Combinator, one of the world’s most efficient startup accelerators. Paystack’s aim is to enable merchants and enterprises accept online payments and transfer money. It was co-founded by Nigerian Shola Akinlade. She began her efforts in Nigeria in 2016, and they were a success. Henri Huet appreciates the fact that half of all online transactions in this country of more than 200 million people now go through Paystack, indicating that e-commerce prospects are expanding.

The company moved to Ghana in 2018, and subsequently to South Africa in May 2021.

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Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert. 
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh