Paystack Builds a Fintech Empire by Eating Its Rivals

Paystack has quietly absorbed three Nigerian fintechs in 2026, with the latest being card-issuing startup Allawee, which will shutter all accounts by December 1. Allawee is the second brand Paystack has folded into its operations this year — after business banking startup Brass was absorbed in June — and the third acquisition overall, following the purchase of Ladder Microfinance Bank, which gave Nigeria's largest payments processor a banking licence. Paystack has restructured...