Paystack recorded a monthly transaction volume of N1 billion three days ago. It was announced via a tweet by Ezra Olubi, Co-founder and CTO of Paystack. They attributed the feat to the increased number of Nigerian customers paying Nigerian merchants online, monthly, via Paystack.
Paystack is a Fintech startup a little over a year and the half old. It is a payments platform that makes the online payments process seamless for both the consumers and the businesses they are trying to pay.
Unlike other Fintech companies, Paystack has a tradition of sharing its transaction volumes publicly and it does this for two reasons:
Celebrating all wins, both big and small
Encouraging a culture of greater transparency and mutual accountability within the Nigerian startup community
The N1 billion monthly transaction volume is inspiring as it’s a proof that a Nigerian startup has the ability to succeed in a market dominated by bigger more established players.