Storyline
Paystack Folds In Allawee
Timeline
- Wed, Sep 2LatestUnverified — not yet reviewed
Paystack Acquires Card-Issuing Fintech Allawee in Second Deal This Year
New reporting explains the strategic rationale behind Paystack's acquisition of card-issuing fintech Allawee, identifying specific embedded-finance capability gaps the deal fills for Paystack. Allawee user accounts are set to be shut down in December, and the deal is reshaping the competitive map for card infrastructure in Nigeria.
- Tue, Sep 1Unverified — not yet reviewed
Paystack Absorbs Card-Issuing Fintech Allawee, Shuts Accounts in December
Paystack has quietly acquired card-issuing fintech Allawee and will shut down Allawee user accounts in December, marking the company's second acquisition this year. The move signals an aggressive expansion into card issuing and is seen as a consolidation play within Nigeria's fintech stack.