Technext· 18h ago· 1 min read
In March 2025, Paystack, the Nigerian fintech giant acquired by Stripe for $200 million in 2020, made its first major leap into consumer payments with the launch of Zap , a mobile app built around a deliberately narrow premise: fast, clutter-free bank transfers.
Founded by Shola Akinlade and Ezra Olubi in 2015, Paystack spent nearly a decade as a B2B infrastructure company powering payments for over 200,000 businesses across Africa. Zap represented a strategic shift, not toward becoming a neobank, but toward owning the consumer’s everyday transfer experience. At launch, CEO Shola Akinlade was explicit about the app’s singular focus: “ Zap is not trying to be a neobank. It is focused on one thing – bank transfers, fast .”
The product thesis was elegant in its restraint. Users could link existing Nigerian bank accounts (excluding neobanks like OPay and PalmPay), fund a Paystack-Titan…
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