Paystack’s recent launch of its subsidiary, Zap, has sparked controversy as Nigerian fintech startup Zap Africa accuses the company of trademark infringement. The dispute has gained traction online, with Zap Africa asserting that it holds legal rights to the name and plans to take action against Paystack.
Zap Africa: Everything You Need to Know
Zap Africa was founded by Nigerian entrepreneurs Tobiloba Asu-Johnson and Moore Dagogo-Hart. What started as a friendship between the two eventually turned into a mission to revolutionise decentralised finance (DeFi) in Africa. Instead of relying on custodial exchanges, they focused on non-custodial solutions, giving users full control over their assets.
Over the past year, Zap Africa has grown significantly, boasting increased transaction volumes and a growing user base. The company is now preparing to launch a non-custodial wallet that will offer seamless crypto swaps, cross-border payments, and even a virtual card for everyday spending.
“Only One Zap” – The Social Media Storm
Following Paystack’s announcement of Zap, Zap Africa launched an online campaign with the hashtag #OnlyOneZap, making its stance clear. Social media posts from individuals associated with Zap Africa claim that the company has a registered trademark for the name and will be taking legal action.
One such post by X user @OfficialTobyy_, believed to be linked to Zap Africa, stated: “Our name is trademarked and we’re on it. Zap’s legal team will be reaching out to Paystack shortly. Huge shoutout to everyone who brought this to our attention. Your support is invaluable!”
Another post by @MOORE_DH, reportedly co-founder Moore Dagogo-Hart, reinforced this claim:”We’ve been building Zap for 3 years now, intentionally and with full ownership. The name is trademarked. The product is live. The community is real.”
Despite the uproar, Paystack has yet to release an official statement addressing the allegations.
Did Paystack Make a Mistake?
The situation raises questions about whether Paystack overlooked existing trademarks before launching Zap or if the two brands can coexist without legal conflict. With no response from Paystack yet, the fintech industry is watching closely to see how this unfolds.
This is a developing story.
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2 replies on “Paystack’s New “Zap” Sparks Legal Battle—What’s Next?”
[…] Paystack’s recent launch of its subsidiary, Zap, has sparked controversy as Nigerian fintech startup Zap Africa accuses the company of trademark infringement. The dispute has gained traction online, with Zap Africa asserting that it holds legal rights to the name and plans to take action against Paystack. […]
[…] to the complications, Paystack’s Zap has already attracted controversy since its debut. Shortly after launch, a Nigerian crypto startup named Zap Africa accused Paystack […]