By Adedapo Adesanya

African payments infrastructure giant, Paystack, has taken an early step into AI-driven commerce with the launch of Paystack Index, a platform that allows users to complete transactions through AI assistants.

The move signals the company’s ambition to power payments in an emerging era where chatbots could become a primary channel for shopping and financial services. It makes Paystack among the first African fintechs attempting to integrate payments directly into AI workflows.

In a statement on Thursday, the payments giant announced the experimental product developed by Paystack with product support from TSG Labs, the venture studio and emerging technology arm of The Stack Group.

Paystack Index builds on existing Paystack products, such as Paystack Checkout, by giving Zap users in Nigeria a new way to check out with supported Paystack merchants via AI agents.

The product is launching in early access as Paystack learns how people want to use AI agents to get things done, starting with familiar tasks like buying airtime and mobile data, funding wallets, sending money, and paying for food.

Paystack Index is live in Nigeria and currently works with supported AI clients, including Claude, ChatGPT, and OpenClaw. At launch, it supports airtime and mobile data purchases across major Nigerian networks, transfers via Zap, and food ordering through Chowdeck.

With Paystack Index, users can ask a supported AI agent to complete a task. Index interprets the request, routes it to the right provider or supported Paystack merchant, processes the transaction through Zap and Paystack’s payment infrastructure, and helps the user complete checkout securely within the AI experience.

Users remain in control of what they authorise. Index only acts on requests that users send through their chosen AI agent and within the permissions and limits they set. Index does not store card numbers, CVVs, PINs, or bank account credentials, and transactions are processed through Paystack’s secure payment infrastructure.

“Paystack has always focused on helping businesses get paid safely and reliably, wherever their customers are,” said Mr Shola Akinlade, CEO of Paystack. “As AI agents become a more common way for people to search, decide, and take action, we think checkout has to evolve too. Paystack Index is an early experiment in extending Paystack’s checkout infrastructure into AI experiences, starting with users in Nigeria and a few supported merchants and services.”

“The goal is simple: help users complete everyday transactions more easily, while keeping authorisation, permissions, and payment processing on trusted Paystack rails,” he added.

Paystack said since the product is not fully due for general rollout, it will continue to test how users interact with AI agents for commerce, how merchants can safely participate in AI-led checkout experiences, and what infrastructure will be needed as this behaviour evolves.

Paystack Index is now live in Nigeria in early access, with more features, supported merchants, billers, and African markets coming soon. Users in Nigeria can get started with Paystack Index at paystack.com/index.

By Aduragbemi Omiyale

To deepen financial inclusion and bring financial services to underserved persons in the country, Zenith Bank Plc has opened a new branch in Osubi in the Okpe Local Government Area of Delta State.

This has made Zenith Bank the first commercial bank to establish a presence in the Osubi community. The branch is the 19th of Zenith Bank in the Niger Delta state.

The chief executive of Zenith Bank, Ms Adaora Umeoji, during the commissioning of the branch on Wednesday, June 24, 2026, thanked Governor Sheriff Oborevwori of Delta State for supporting business operators.

She described the Osubi branch as a milestone in Zenith Bank’s enduring relationship with the state, reiterating the company’s commitment to serving underserved communities and to empowering individuals, businesses, women entrepreneurs, and SMEs through innovative banking solutions, access to finance, and capacity-building initiatives.

The banker expressed optimism that the new branch would serve as a catalyst for economic activity in Osubi and its surrounding communities, supporting the broader development of Delta State and Nigeria at large.

“We are deeply grateful to Governor Sheriff Oborevwori for his unwavering support and partnership, and for finding time to personally commission the branch today.

“His generous donation of the land on which this branch is built is a testament to his administration’s commitment to fostering private sector investment and creating an enabling environment for businesses to thrive.

“Since assuming office, the Governor has driven significant infrastructure and socio-economic development across the state, and Zenith Bank is proud to contribute to that progress through this new branch in Osubi,” Ms Umeoji stated.

In his remarks, Mr Oborevwori described the new branch as “a clear vote of confidence in the economic potential of our state, pointing out that it shows that the investments we have made in infrastructure, economic development, and ease of doing business are producing tangible results.

“When a leading financial institution such as Zenith Bank expands its presence in Delta State, it sends a powerful message that Delta State is open for business and ready for greater investment.”

He also underscored the branch’s significance to the host community, noting that “this branch is the only bank in the whole of Okpe Local Government as it is today. The significance of this bank to our people cannot be overemphasised, because of the impact it will have on the economy of this local government.”

Needing money fast is a common problem in Nigeria. Rent is due, or a small business runs short on stock money before the next sale. In the past, getting a loan from a bank meant paperwork, a guarantor, and sometimes property as collateral. That process could take weeks. Today, things have changed. Several licensed digital lenders in Nigeria now offer personal loans without collateral, and the entire process can be completed from a phone in under an hour.

This article explains how no collateral loans work in Nigeria, what lenders actually check before approving you, and how to avoid the mistakes that get loan applications rejected or, worse, land borrowers with apps that are not properly registered.

What “No Collateral” Really Means

A collateral loan asks you to pledge something of value, like land, a car, or a fixed deposit, as security. If you fail to repay, the lender has a legal right to seize that asset. Most working Nigerians do not have assets like this sitting idle, which is exactly why no collateral loans exist.

Instead of asking for property, digital lenders look at other signals to judge whether you can repay:

• Your Bank Verification Number (BVN) or National Identification Number (NIN), used to confirm your identity
• Your bank account history, which shows whether money moves in and out regularly
• Your mobile money or airtime usage in some cases, which hints at your financial activity
• Your repayment history with other lenders, if you have borrowed digitally before

This is why an app like LendSafe can approve a loan in minutes. There is no waiting for a bank manager to review your file. The decision is based on data you provide once, during registration.

Steps to Get a Quick Loan Without Collateral

The process is fairly similar across most reputable Nigerian loan apps, though the details differ slightly.

1. Download a licensed loan app: Always check that the app is registered with the Federal Competition and Consumer Protection Commission (FCCPC) before installing it. Unregistered apps are the ones most often linked to harassment and hidden charges.
2. Register with your phone number and basic details: Most apps ask for your name, phone number, and BVN or NIN to verify who you are.
3. Answer a few simple questions: This usually covers your employment status, income range, and sometimes your address.
4. Wait for your credit limit: Based on the information provided, the app calculates how much you qualify to borrow. This step typically takes a few minutes.
5. Choose your loan amount and repayment plan: Pick an amount you are confident you can repay on time, not the maximum offered.
6. Receive the funds: Once approved, money is sent directly to your bank account, often within minutes.

What to Check Before You Borrow

Before accepting any loan offer, confirm the following:

• The interest rate and total repayment amount: A lender should show you exactly how much you will repay, not just how much you will receive.
• The repayment date and any penalty for late payment: Missing a date by accident should not lead to extreme charges.
• The lender’s registration status: Reputable lenders, such as those operating under the FCCPC’s Digital, Electronic, Online and Non-Traditional Consumer Lending Regulations, are required to disclose their licensing details. If an app cannot show this, treat it as a warning sign.
• What permissions the app is requesting: A lender does not need access to your entire photo gallery or contact list to process a personal loan. Be cautious of apps that ask for more access than necessary.

Why ‘No Collateral’ Does Not Mean No Responsibility

Some borrowers assume that because no asset is on the line, a missed payment carries no real consequence. This is not true. Digital lenders report repayment behaviour to credit bureaus in Nigeria, including CRC Credit Bureau and CreditRegistry. A pattern of late or missed payments can affect your ability to borrow in the future, even from a different lender entirely.

The safest approach is to borrow only what you need and only when you are sure of your repayment date. A loan app should support a short-term need, not become a constant source of stress.

Conclusion

No collateral loans have made it possible for ordinary Nigerians, salaried or self-employed, to access quick cash without the long process traditional banks require. The key is choosing a lender that is properly licensed, transparent about costs, and respectful of your data and privacy. Apps that are upfront about their fees and regulatory status, like LendSafe by SmartLoans, are generally a safer place to start than apps with no clear company information behind them.

Before your next financial emergency arrives, it is worth knowing which licensed apps you can trust and how the no-collateral process actually works. That knowledge alone can save you from a costly mistake.