Paystack, the Nigerian fintech company owned by Stripe, has launched a new Small Business Programme aimed at helping merchants access funding, business networks, tools and services to improve their operations and accelerate growth.
The initiative begins with the introduction of the Paystack Small Business Bundle, a package that will provide 2,000 eligible merchants with discounts and benefits valued at up to ₦4 million (approximately $2,923).
The programme forms part of Paystack’s broader strategy to deepen its engagement with businesses using its payment infrastructure. The company has recently expanded beyond payments, including securing a microfinance banking licence earlier this year, as it seeks to offer more comprehensive support to merchants.
Through partnerships with various service providers, the Small Business Programme will give businesses access to resources across key operational areas such as e-commerce, bookkeeping, logistics, branding, customer communication and other digital business solutions.
Micro, small and medium-sized enterprises (MSMEs) continue to play a crucial role in Nigeria’s economy. Data from the 2021 NBS-SMEDAN MSME survey shows that the sector contributes 46.3 per cent of the country’s GDP, represents 96.9 per cent of businesses and employs 87.9 per cent of the workforce.
According to Jumoke Gbeleyi, who oversees the programme within Paystack’s Strategy and Operations team, many small businesses face significant operational challenges as they grow. She noted that beyond processing payments, businesses often require support in areas such as inventory management, bookkeeping, customer engagement and access to growth opportunities.
She explained that the programme is designed to help businesses move beyond simple transactions by providing access to the systems, partnerships and opportunities needed for long-term success.
The Small Business Programme comprises three key initiatives. The first, the Small Business Bundle, offers merchants a range of partner benefits, including discounts, credits, subsidies and free trials. Participating partners include Bumpa, Simplebks, Africaworks, FezDelivery, PressOne, Shuttlers, Canva, Ijeworks, Wiicreate, Flowcart, Kindlybook, Gamp, Mercurie and Paystack itself.
To qualify, businesses must maintain an active Paystack account in Nigeria and have processed at least ten transactions through the platform within the previous 30 days. Eligible merchants can select available offers, complete verification requirements and redeem multiple benefits, although each partner offer can only be claimed once.
The second initiative, known as the Small Business Launchpad, will provide selected businesses with practical support to maximise the use of Paystack’s products and services. The third component, the Small Business Grant, is intended to offer financial support to selected businesses preparing for expansion.
While Paystack has yet to announce application dates or funding details for the Launchpad and Grant initiatives, the company says the programme will continue to evolve, with additional partner offers and support mechanisms expected to be introduced over time.
Gbeleyi stated that supporting merchants beyond payment processing is a natural progression of Paystack’s mission, adding that the company aims to connect businesses with the tools, partnerships, networks and resources necessary to achieve sustainable growth.
