Paystack, the pan-African payments platform, has officially entered the Nigerian banking sector through its acquisition of Ladder Microfinance Bank, the company confirmed in a statement.
The move comes as part of Paystack’s strategy to expand beyond payments into a broader financial operating system for businesses, developers, and individuals across the continent. Following the acquisition, the firm launched Paystack Microfinance Bank, which will operate as a sister company to Paystack Payments Limited, with its own license, governance, and roadmap.
“We work closely, but each company is focused on its respective mission,” a Paystack spokesperson said. The fintech giant emphasized that the bank will initially serve a select group of users, gradually expanding access while applying Paystack’s core principles of reliability, simplicity, transparency, and trust.
Founded in Nigeria 10 years ago, Paystack has grown into a pan-African fintech operating in five countries. Its systems now process trillions of naira every month, supporting about 300,000 businesses and millions of buyers. This acquisition highlights the company’s vision of offering a full-suite financial infrastructure where businesses can store money safely, move funds easily, and grow confidently.
Paystack’s founder said, “Businesses don’t just need to get paid. They need a financial operating system. Individuals want tools that help them grow, protect, and use their money confidently. Developers want infrastructure to build elegant solutions quickly, securely, and compliantly.”
The launch of Paystack Microfinance Bank coincides with a restructuring of Paystack’s international operations, with the company announcing plans to reduce its presence in Europe and the UAE, affecting 33 staff members. Despite this, the focus on African markets signals a renewed commitment to local financial inclusion and digital banking solutions.
