Paystack revives Consumer App, Zap, eight months after $190,000 fine
- Paystack has restored access to its consumer app, Zap, after a compliance dispute with the Central Bank of Nigeria.
- The fintech was fined 250 million naira ($190,000) eight months ago for operating Zap outside its licensing scope.
- Zap is now integrated into Paystack's checkout ecosystem, available automatically to merchants accepting bank transfers.
The restoration of Zap is a significant achievement for Paystack, reflecting its ability to navigate regulatory challenges in Nigeria's fintech landscape. This strategic integration not only enhances Paystack's service offerings but also strengthens its competitive position against other digital payment providers. Future discussions should focus on how fintechs can continue to innovate while maintaining compliance with evolving regulations.
