Paystack Launches Small Business Growth Initiative

Nigerian fintech company Paystack has launched a new Small Business Program aimed at helping merchants access funding, business tools, professional services, and growth opportunities beyond payment processing. The initiative debuts with the Paystack Small Business Bundle, a package offering 2,000 eligible Nigerian merchants access to discounts and benefits valued at up to ₦4 million (approximately $2,900).

The launch marks another step in Paystack’s broader strategy to deepen its support for businesses using its payment infrastructure. Earlier this year, the company secured a microfinance banking licence, signalling its ambition to expand beyond payments into broader financial and business services.

Expanding Support Beyond Payments

Through the Small Business Program, Paystack has partnered with a range of service providers to help merchants address common operational challenges such as bookkeeping, logistics, customer engagement, design, e-commerce management, and business administration.

The move comes as small and medium-sized enterprises continue to play a critical role in Nigeria’s economy. According to data from the National Bureau of Statistics (NBS) and the Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), MSMEs contribute more than 46% of Nigeria’s GDP, represent nearly 97% of businesses, and employ close to 88% of the country’s workforce.

Paystack says many growing businesses require more than payment collection capabilities. Entrepreneurs frequently face challenges related to inventory management, financial record-keeping, customer communication, and access to business development opportunities. The company developed the program to provide support across these areas while helping merchants build stronger operational foundations.

Three Initiatives Under the Program

The Small Business Program will be rolled out through three separate initiatives.

The first, the Small Business Bundle, provides access to discounts, credits, free trials, subsidies, and other benefits from a network of partner organisations. These offers span multiple categories including e-commerce, logistics, bookkeeping, design services, coworking spaces, communications, and digital business tools.

Participating partners include e-commerce platform Bumpa, bookkeeping software Simplebks, coworking provider Africaworks, logistics firm FezDelivery, communications platform PressOne, commuter transport service Shuttlers, design platform Canva, alongside Ijeworks, Wiicreate, Flowcart, Kindlybook, Gamp, Mercurie, and Paystack itself.

Eligibility and Access Requirements

To qualify, businesses must maintain an active Paystack account in Nigeria and have processed at least 10 transactions through the platform during the previous 30 days. Eligible merchants can browse available offers, complete verification requirements, and redeem benefits across multiple partner services.

Each individual partner offer, however, can only be claimed once per merchant.

Launchpad and Grant Programmes Still to Come

The second component of the programme, the Small Business Launchpad, will provide selected businesses with practical support and guidance to help them maximise the use of Paystack’s products and services.

The third initiative, the Small Business Grant, will provide funding support to selected businesses preparing for expansion and growth. Paystack has not yet announced application dates or funding amounts for either the Launchpad or Grant programmes. According to the company, the Small Business Program will continue to evolve, with additional partners and support services expected to be introduced over time.

By expanding beyond payments and connecting merchants to operational tools, professional networks, and potential funding opportunities, Paystack is positioning itself as a broader business growth partner for Nigeria’s small business community.