Paystack, a leading tech startup company in Nigeria, has announced the launch of its first consumer-focused app, Zap.
ENigeria News reports that Zap is an instant and secure payment, with a focus on bank transfers.
The launch of the app, which can be used to link all customers’ bank accounts while they make instant, secure, and fast transfers from one place, was announced during a live stream on Paystack’s YouTube page on Monday.
Why it matters
The fintech space is crowded with digital wallets and mobile money, but Zap aims to differentiate itself by relying on bank transfers—bypassing card networks and reducing fees.
How it works
o Users can send and receive money instantly via their bank accounts.
o Built on an infrastructure that already handles millions of transactions daily.
o Emphasizes security and ease of use.
Between The Lines
Currently, Zap by Paystack is available in Nigeria, but there are expansion plans later.
The big picture
ENigeria News reports that as digital payments grow across Africa, Zap is betting that consumers want faster, cheaper transactions without the friction of traditional banking apps.
This is a developing story; more on this is to come soon.
