The big news in the world of e-commerce today is Stripe’s acquisition of Paystack, a Nigeria-based payments system that is widely used throughout African markets. The company, which became informally known as “the Stripe of Africa” picked up $8 million in Series A funding in 2018, led by Stripe, Y Combinator, and Tencent. Paystack has grown to power more than 60,000 businesses, including FedEx, UPS, MTN, the Lagos Internal Revenue Service, and AXA Mansar.
Stripe’s acquisition of the company is rumored to be more than $200M, a small price to pay for a foothold in emerging African markets. In