Sola Akinlade And Ezra Olubi Are The Game Changers Of Online Payments In Nigeria

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Sola Akinlade and Ezra Olubi are the young Nigerian men who built Paystack, a platform that helps Nigerian and African – businesses accept payments from anyone, anywhere in the world – through debit, credit cards, and direct bank debits.

They built Paystack as a result of personal need – they were entrepreneurs working on their respective businesses which, as it turns out, were facing online payment challenges. 

With their platform, all businesses now have to do is connect Paystack to their websites and start receiving online payments in as little as 30 minutes! Paystack is not just helping existing businesses accept payments, it is also allowing new businesses to get started, get paid and grow their businesses – and allowing customers feel safer about revealing their card information – in way less time than it used to take in the past.


Since the official launch in January 2016, Paystack has grown steadily and currently serves over 2,000 merchants in Nigeria and went from processing N500,000 at launch to processing over N600 million in April 2017. Paystack is now in early talks to expand to Ghana and Kenya.

Speaking on the company’s future plans, Paystack CEO, Sola, said:

“Despite the progress we have made, there is a lot of room for improvement. We have the unbanked, the financially excluded who are yet to experience the convenience of online payments. We aim to change the way everyone (merchants and their paying customers) interact with money and create a sort of financial personal assistant embedded into their daily lives to make it easier.”

Previously, Sola developed software projects for banks and worked on Precurio, a document management software, which has gone on to be interpreted in 6 languages and has had over 200,000 downloads; while Ezra worked with online job portal, Jobberman and later on, Delivery Science.

The team has expanded to include 10 more people; and Paystack is not slowing down. They believe that there’s still room for improvement in the payments sector, and they plan to continue to build capacity to tend to the pain points of Nigerians – and Africans.

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