Card-issuing fintech Allawee folds into Paystack after quiet acquisition

Allawee, a Nigerian card-issuing fintech, will close its business and personal account services on December 1, 2026, after Paystack acquired the company in 2025 in a deal that was not publicly announced, according to emails sent to Allawee customers. In two emails seen by TechCabal, Allawee said its technology now operates within Paystack and told customers that “any payment sent to your Allawee account number from December 1 will fail,” adding that its cards will stop working regardless of the