A brewing legal showdown has erupted in Nigeria’s fintech space as ZAP Africa, a cryptocurrency exchange, has squared off against payment giant Paystack over the use of the brand name “Zap.”
The dispute centres on Paystack’s recent launch of its consumer app, Zap, which ZAP Africa claims infringed on its established trademark and brand identity.
ZAP Africa, operational since 2022 as a platform for buying, selling, and swapping cryptocurrencies like Bitcoin and Ethereum, asserted that it has built significant brand recognition under the “Zap” name.
The firm argued that Paystack’s introduction of Zap, a bank transfer app unveiled on March 24, 2025, allegedly created confusion in the market and undermined its intellectual property rights.
Paystack, acquired by U.S.-based Stripe in 2020 for over $200 million, has positioned Zap as its first consumer-facing product after nearly a decade of focusing on business-to-business payment solutions.
The app promises seamless bank transfers in under 30 seconds, targeting Nigeria’s growing digital payments market.
Shola Akinlade, the chief executive officer (CEO) of Paystack, clarified that the app is not a new banking service but a tool focused on making money transfers faster and more reliable.
“Zap isn’t trying to be a new bank. It is just focused on one thing—bank transfers, fast. And that’s it,” Akinlade said.
However, ZAP Africa contended that Paystack failed to conduct adequate due diligence, accusing the fintech heavyweight of encroaching on its territory.
“There is only one ZAP in Nigeria and Africa,” the cryptocurrency exchange wrote on X, formerly Twitter.
Also, Tobi Asu Johnson, Zap Africa’s CEO, took to X to announce the company’s legal team will contact Paystack to use the “trademarked” name.
“Our name is trademarked and we’re on it. Zap’s legal team will be reaching out to Paystack shortly,” he wrote.
The cryptocurrency firm also issued a disclaimer via X, saying that the company is the only ‘Zap’ that should be used.
