ADVERTISEMENT
TechEconomy
Saturday, May 10, 2025
No Result
View All Result
Advertisement
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Gadgets and Appliances
      • Apps
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Apply
  • TecheconomyTV
  • Techeconomy Events
  • BusinesSENSE For SMEs
  • TBS
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Gadgets and Appliances
      • Apps
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Apply
  • TecheconomyTV
  • Techeconomy Events
  • BusinesSENSE For SMEs
  • TBS
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
Podcast

Home » Paystack Integrates OPay, Expanding Payment Options for Millions, Driving 50% Growth in Bank Transfers

Paystack Integrates OPay, Expanding Payment Options for Millions, Driving 50% Growth in Bank Transfers

Joan Aimuengheuwa by Joan Aimuengheuwa
November 28, 2024
in Fintech
1
Paystack Integrates OPay, Expanding Payment Options for Millions, Driving 50% Growth in Bank Transfers
Paystack

Paystack

RelatedPosts

Flutterwave on FXC Intelligence top 100

Again, Flutterwave Named on FXC Top 100 Cross-Border Payment Companies

May 9, 2025

​PAFON 2.0: Tizel Cybersecurity Calls for Vigilance over Surge in AI-Powered Fraud

May 7, 2025

Paystack, a Nigerian fintech company and subsidiary of Stripe, has integrated OPay, enabling merchants to receive payments directly from millions of OPay accounts. 

With this, Paystack will continually enhance payment solutions for businesses by prioritising direct bank transfers over traditional card-based transactions, which are often costlier for consumers and merchants alike.

The new “Pay by OPay” feature allows merchants to accept payments seamlessly through OPay’s app or web interface, complementing Paystack’s existing integrations with 24 Nigerian banks and other fintech platforms like PalmPay and Kuda. 

This development will also drive offerings for businesses to get more reliable and diverse payment options. Paystack CEO Shola Akinlade noted the importance of providing payment methods familiar to customers, reiterating OPay’s rise as a trusted payment platform during Nigeria’s 2023 cash crunch, which saw many consumers shift to fintech solutions due to banking disruptions.

The collaboration between Paystack and OPay also aims to deliver an exceptionally high transaction success rate, with Paystack claiming a 99.9999% reliability metric.

This aligns with the goal of OPay to leverage modern technology in delivering advanced financial services, as highlighted by its Managing Director, Dauda Gotring.

Paystack’s shift toward bank transfers as a primary payment method dates back to 2017 with the introduction of its “Pay with Bank Transfer” feature. 

United BANK

This approach has seen exponential growth, with such transactions accounting for over 50% of its total processing volume in 2023, up from just 13% in 2021.

Additionally, Paystack recently partnered with the Nigeria Inter-Bank Settlement Scheme (NIBSS) to introduce direct debit functionality, further simplifying how customers of most Nigerian banks can make payments. 

The integration with OPay strengthens Paystack’s place in the fintech sector while enhancing payment flexibility for Nigerian businesses.

The partnership comes at a time when both companies are riding on market achievements. OPay, which launched in 2018, has expanded its services to include ride-hailing, digital banking, and food delivery, and is now valued at approximately $2 billion. 

Similarly, Paystack continues to deepen its roots in the African fintech sector while exploring more opportunities under Stripe’s ownership​

Loading

United BANK

0Shares

Tags: OPayPayStackPaystack integrates OpayShola Akinlade“Pay by OPay” feature
Previous Post

xMoney Global Appoints Dr Greg Siourounis as CEO to Lead Blockchain Payments Revolution

Next Post

M-KOPA Eyes $400 Million ARR by Year-End, Drives Rapid Expansion

Joan Aimuengheuwa

Joan Aimuengheuwa

Joan thrives at helping individuals and businesses scale via storytelling...

Related Posts

Flutterwave on FXC Intelligence top 100
Fintech

Again, Flutterwave Named on FXC Top 100 Cross-Border Payment Companies

by Staff Writer
May 9, 2025
0

Flutterwave, a leading payments technology company, was recently ranked as a top 100 cross-border payment company by FXC Intelligence for...

Read more
Happiness Obioha, Tizel Cybersecurity CEO at PAFON 2.0

​PAFON 2.0: Tizel Cybersecurity Calls for Vigilance over Surge in AI-Powered Fraud

May 7, 2025
KongaPay | ISO Certifications

KongaPay Raises the Bar with Three ISO Certifications

May 7, 2025
MTN and CSCS

CSCS, MTN Launch USSD Code to Expand Investment Access in Nigeria

May 7, 2025
Flutterwave CEO Advocates for Stronger Intra-Continental Trade

Flutterwave CEO Advocates for Stronger Intra-Continental Trade

May 6, 2025
Moniepoint processes N17billion transactions monthly

Moniepoint Processes over $17 billion in Transactions Monthly

May 6, 2025
Next Post
M-KOPA Eyes $400 Million ARR by Year-End, Drives Rapid Expansion

M-KOPA Eyes $400 Million ARR by Year-End, Drives Rapid Expansion

Comments 1

  1. Pingback: Zap by Paystack: Transfer Made Easy, and More Features

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Techeconomy Podcast

Techeconomy Podcast
Techeconomy Podcast

Infowave is brought to you by TechEconomy. Every week we will bring new stories from startups and influencers who are shaping and changing the world we live in. We’ll also bring you reports on topics you should know.

Follow us @techeconomyng for more.

CYBERSECURITY ESSENTIALS
byTecheconomy

BUILDING STRONGER NETWORKS AND COMMUNITIES

CYBERSECURITY ESSENTIALS
CYBERSECURITY ESSENTIALS
April 24, 2025
Techeconomy
Digital Marketing Trends and strategies for 2025 and beyond
February 27, 2025
Techeconomy
Major Lesson for Techies in 2024 and Projections for 2025
December 6, 2024
Techeconomy
Major Lessons for Techies in an AI-Driven World | Techeconomy Business Series Highlights
November 26, 2024
Techeconomy
Maximizing Profitability Through Seasonal Sales: Strategies For Success
November 8, 2024
Techeconomy
Techeconomy Business Series
October 15, 2024
Techeconomy
PRIVACY IN THE ERA OF AI: GETTING YOUR BUSINESS READY
May 30, 2024
Techeconomy
Unravel the Secrets of Marketing Everywhere All At Once with Isaac Akanni from Infobip | Infowave Podcast Episode 1
February 9, 2024
Techeconomy
The Role of Ed-tech in Life Long Learning and Continuous Education
October 19, 2023
Techeconomy
Filmmaking and Technology: A chat with Micheal Chineme Ike
June 7, 2023
Techeconomy
Search Results placeholder

WHAT IS TRENDING

https://www.youtube.com/watch?v=g_MCUwS2woc&list=PL6bbK-xx1KbIgX-IzYdqISXq1pUsuA4dz
uba

Follow Us

  • About Us
  • Contact Us
  • Careers
  • Privacy Policy

© 2025 Techeconomy - Designed by Opimedia.

No Result
View All Result
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Laptop
      • Gadgets and Appliances
      • Apps
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • Apply
  • TecheconomyTV
  • Techeconomy Events
  • BusinesSENSE For SMEs
  • TBS

© 2025 Techeconomy - Designed by Opimedia.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.