WATCH | ‘We’re the Biggest Processors of Starlink Payments in Nigeria’ – A Chat with CEO, PayDay

BitKE · 2026-01-21T08:01:57+00:00

Favour Ori, CEO of PayDay, discusses the startup's growth as Africa's leading neobank and Starlink payment processor. Recently raising $3 million, PayDay boasts over 100,000 new users monthly and aims to streamline payment collection across Africa.

BitKE

2026-01-21 08:01:57

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BitKE caught up with Favour Ori, Founder and CEO of PayDay, one of the leading and emerging neobanks in Africa and a leading Starlink payment processor in Africa, to talk about the company’s recent developments.

PayDay is the largest and official processor of Starlink payments in Nigeria. The company is also offering similar services to Starlink in Rwanda:

“The idea is we plan to help Starlink expand across Africa and the way we’re doing it is we’re helping them collect payments because its so fragmented how people collect payments in Africa.” – CEO, PayDay

PayDay recently raised $3 million and crossed over 300, 000 with over 40,000 transactions per day. The startup said it is now seeing over 100,000 users joining per month.

Payday offers its 330,000+ users virtual Visa and Mastercards which can quickly be generated using the Payday App.

In this discussion, you will learn:

01:17 – The early beginnings of Favor and PayDay
02:53 – What does Payday do?
04:31 – What is a Neo bank?
07:40 – How Payday virtual dollar card works
08:30 – Payday user growth
09:20 – How Payday gains users
09:40 – Payday post-raise strategy
10:45 – Payday growth timeline
11:37 – About Payday in Rwanda
12:11 – Challenges faced as a fintech
14:45 – About regulations
15:06 – Advice to entrepreneurs
17:25 – How can people work with Payday

Offering sage advice to African entrepreneurs, Favour said:

“On the part of fundraising, you need to have traction. I see people complaining how they’re trying to raise. There is money out there, it just depends on how you’re raising the money or if you have the traction to raise money. There are 2 ways of raising, you can basically raise based on traction or show I have done this before or my team is solid.” – CEO, PayDay

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