Paystack Launches $2900 Support Program for SMEs

Paystack has launched a Small Business Program to help Nigerian merchants access funding, business tools, and growth opportunities.

The initiative begins with the Paystack Small Business Bundle. The package offers 2,000 eligible merchants discounts and benefits worth up to ₦4 million ($2,923).

Paystack is working to expand its services beyond payment processing. Earlier this year, the company secured a microfinance bank licence as it expanded its merchant services.

Through the programme, Paystack has partnered with service providers across bookkeeping, logistics, customer communication, design, e-commerce, and workplace solutions.

“Small businesses are at the heart of Nigeria’s economy, but many of them still face very practical barriers as they grow,” said Jumoke Gbeleyi, who oversees the programme at Paystack.

“Beyond accepting payments, they need better access to tools, services, networks, and funding that can help them run more efficiently, reach more customers, and build stronger businesses.”

Small businesses remain a key part of Nigeria’s economy. According to a joint survey by the National Bureau of Statistics and SMEDAN, they contribute 46.3% of GDP. They also account for 96.9% of businesses and employ nearly 88% of the workforce.

Gbeleyi said Paystack created the programme after noticing that merchants often struggle with operational challenges. These include inventory management, bookkeeping, and customer engagement.

The Small Business Program has three components. The first is the Small Business Bundle, which provides discounts, credits, free trials, and other benefits from partner companies.

Participating partners include Bumpa, Simplebks, Africaworks, FezDelivery, PressOne Africa, Shuttlers, and Canva. Several other service providers are also part of the programme.

To qualify, businesses must have an active Paystack account in Nigeria. They must also process at least 10 transactions through the platform within 30 days.

Eligible merchants can apply for multiple offers. However, each partner benefit can only be redeemed once.

Meanwhile, Paystack plans to launch two additional initiatives. The Small Business Launchpad will provide hands-on support to selected merchants. It will also help them make better use of Paystack’s products.

The Small Business Grant will provide funding to businesses preparing for expansion.

Paystack has not disclosed when applications for either initiative will open. However, the company said it plans to add more partner benefits and support services over time.

“For us, supporting merchants beyond payments is a natural extension of the work we already do,” Gbeleyi said.

“If Paystack is helping businesses collect payments, we also have an opportunity to connect them with tools, partners, and support that can drive sustainable growth.”