Paystack, the Nigerian financial technology company providing online and offline payment solutions across Africa, has restored access to its peer-to-peer payment app, Zap, following a regulatory setback.
The Central Bank of Nigeria (CBN) had fined Paystack N250 million over Zap’s initial operations, alleging that the app functioned as a deposit-taking wallet beyond the scope of Paystack’s regulatory licence.
According to the CBN, Zap, which launched in March 2025, operated in a manner reserved for institutions holding microfinance or full banking licences.
Following regulatory adjustments, Zap has now returned in a more defined role and is available as a payment option on Paystack Checkout. This integration allows millions of customers shopping on Paystack-powered websites and apps to pay using Zap as a fast, simple, and secure option.
For Paystack merchants, Zap appears automatically on checkout pages once “Pay with Bank Transfer” is enabled, with no additional setup required. This gives customers another familiar and reliable way to complete payments using a transfer flow they already trust for daily transactions.
Zap users can now pay for goods and services online including food, transportation, fashion, and professional services directly from the app. Payments can be completed using a Zap balance or Apple Pay, with instant confirmation reflected on the merchant’s checkout once approval is granted in the app.
Zap was originally introduced in March 2025, as a mobile app designed for instant and secure bank transfers, built on the same infrastructure that powers Paystack’s large-scale transaction processing. The product was created to remove friction from money movement, enabling users to complete transfers quickly without delays or pending states.
Paystack’s CEO and co-founder, Sola Akinkade, explained that Zap was developed to address the frustration many Nigerians face with slow bank transfers. According to him, the goal was to ensure users can start and complete transfers in under 30 seconds, which is why the app is focused exclusively on bank transfers.
Following its recent rollout on Paystack checkout relaunch, Zap has been updated with several new features aimed at improving speed, reliability, and user experience. Users can now repeat previous transfers with a single tap, making it easier to send money without saving beneficiaries.
The app also introduces automatic bank suggestions, instantly identifying the correct bank once an account number is entered, reducing errors and time spent searching through bank lists.
Additional updates include a balance visibility toggle for enhanced privacy, real-time service alerts that notify users of bank network downtimes before initiating transfers, and Tier 3 account upgrades. With Tier 3, users can access higher limits of up to ?5 million in daily transfers and maintain balances of up to ?100 million.
According to Paystack, these improvements are part of ongoing efforts to make Zap more stable, predictable, and useful for everyday payments.
The rollout of Zap on Paystack Checkout places the company in more direct competition with established consumer fintech players in Nigeria, including PalmPay, Kuda, OPay, and Moniepoint. However, Akinkade maintains that Zap’s focus is not on competing head-to-head with other fintechs but on delivering a superior transfer experience.
He noted that Zap is designed for people who send money frequently and are constantly on the move, such as Nigerians travelling across Africa, adding that the product is built for users who value speed, reliability, and seamless experiences.
Notably, Zap operates on the same secure infrastructure that powers Paystack Checkout, Terminal, and Transfers systems already trusted by thousands of large businesses across Africa. While Zap is relatively new to consumers, Paystack says it is built on technology that has already been tested at scale.
Looking ahead, Paystack envisions a future where payments across Africa are truly frictionless, supported by infrastructure designed for ambitious individuals and businesses. With Zap, the fintech company says it is building a modern bank transfer experience tailored for everyday spending and cross-border mobility.






