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Nigerian fintech leader Paystack, now part of Stripe, has rolled out a suite of new tools designed to help small and medium-sized enterprises (SMEs) automate their payments and streamline business operations. The announcement underscores the company’s continued commitment to building financial infrastructure that empowers African businesses to grow.
The new features include automated invoicing, recurring billing, and smart reconciliation tools that save time for entrepreneurs and reduce errors in manual processes. With many African SMEs still struggling with outdated systems, these tools could be a game changer, enabling businesses to focus more on growth and less on paperwork.
Paystack, which already powers payments for over 200,000 businesses across Africa, has long been at the forefront of innovation in Nigeria’s fintech space. The new automation tools are expected to benefit not only local enterprises but also regional startups seeking to scale across borders.
According to Paystack’s team, the upgrades are designed to improve both efficiency and transparency, giving business owners better visibility into their cash flow. Features like recurring billing are particularly valuable for subscription-based businesses and service providers, while automated invoicing helps freelancers and SMEs present a more professional front to clients.
Industry analysts note that this move positions Paystack more firmly in the business-to-business fintech segment, competing directly with rivals like Flutterwave and Moniepoint, who are also expanding their product suites. The push toward automation also aligns with global fintech trends, where businesses increasingly expect integrated digital tools to simplify financial operations.
As Nigeria’s fintech sector continues to grow rapidly, innovations like Paystack’s new tools will be critical in supporting the backbone of the economy — its millions of small businesses.
