Paystack Celebrates 1 Billion Naira in Transaction Volume in One Month

Paystack, an online payment platform, celebrated a milestone of processing over N1 Billion transaction volume in a single month.

The Co-founder and CTO of Paystack, Ezra Olubi, in a tweet dated 25 July, revealed the milestone. This feat, according to Paystack could only be achieved by the increased number of Nigerian customers paying sellers online, via its platform (Paystack)
 

At exactly 9:56 PM (WAT) on the 25th of July, 2017; Paystack crossed a billion Naira processed in a single month. pic.twitter.com/cUGMWHWOgj

— Ezra 'God' Olubi. (@0x) July 25, 2017

Paystack is a Nigerian Fintech startup that started operations just under two years ago. It is a platform for online payments that provides an easy and seamless way for consumers to pay for services from merchants online.

Paystack has a tradition of making its transaction volumes known to the public. According to a post on Paystack's blog, They do this for two major reasons

1. Celebrating all wins, both big and small

We’re a tiny team with big dreams. 12 months ago there were about 5 people working at Paystack. Today we’re 18 people strong (and growing!), but the problem of payments in Nigeria is so daunting, that the bad days can sometimes outnumber the good. We consider it an important part of company culture to celebrate the wins.

      2. Encouraging a culture of greater transparency and mutual accountability within the Nigerian startup community

Another value we hold dearly at Paystack is that of transparency. 

This is a feat that will definitely inspire other upcoming Nigerian startups. This shows that even in a market dominated by bigger and more established players, a Nigerian startup can still succeed!