Nigerian payments startup, Paystack has been acquired by US-based payments giant, Stripe.

Paystack is a tech company that provides a quick way to integrate payments services into an online or offline transaction by way of an API.

Paystack was founded in 2015 by Shola Akinlade and Ezra Olubi, Paystack sought to solve the challenge of online payment transactions in Nigeria.

In the midst of a tough week in Nigeria, we have some positive news to share.

Paystack will be acquired by @stripe to accelerate online and offline commerce across Africa.https://t.co/7ZAA8vhdIz pic.twitter.com/kShKF5evBK

— Paystack (@paystack) October 15, 2020