List of Payment Gateways in Nigeria

Share









Tweet



0

Shares



Online transactions in Nigeria have taken over the financial market

and merchants are turning to this, rather than the traditional way of

making payments. Online transactions are safer faster, much more

convenient, and also secure. As a Nigerian merchant and consumer,

there is a wide range of payment gateways to choose from. However,

before making your choice, you have to properly understand what the

payment gateways are about. Know what specific solutions each

provides, the charges, the payment options offered, and how safe and

secure it is. You should also check online to know what people are

saying about each payment gateway. That is what this article is about.

We will discuss the payment gateways in Nigeria and provide you with

other information you need to know about them.









(adsbygoogle = window.adsbygoogle || []).push({});

List of Payment Gateways in Nigeria







Paystack



Paystack is one of the most popular payment gateways in Nigeria. With

Paystack, merchants can accept both debit and credit card payments

online from their customers. Paystack has been proven to be a reliable

and easy way to accept payments across various channels. You can also

use payment pages to run online campaigns for your products and

services. When using Paystack, you can pay out money directly from

your Paystack dashboard to any bank account in the country. Setting up

a Paystack account is free.







(adsbygoogle = window.adsbygoogle || []).push({});

Local Cards are charged 1.5% interest + ₦100



International Cards are charged 3.9% + ₦100



However, the ₦100 fee is waived aside for transactions less than ₦2500







(adsbygoogle = window.adsbygoogle || []).push({});

Interswitch



Interswitch is a payment service for businesses and individuals who

want to accept international and local card payments online. You can

receive online payment from any cardholder using Interswitch WebPay or

Webpaydirect. Customers can also pay for goods and services by their

bank cards.



Flutterwave



With Flutterwave, businesses and banks are able to process payments

across Africa. Flutterwave allows consumers to pay for goods and

services in their own local currency. The website handles the

integration of banks and other payment services into the Flutterwave

platform. Merchants do not have to worry about this.



When making payments within the country, Flutterwave offers the

following options: MasterCard, Visa, Bank Account, with a charge of

1.4% of the amount as processing fee.



For International Payments, you can make use of MasterCard, Visa,

American Express with a charge of 3.5% as processing fee.







(adsbygoogle = window.adsbygoogle || []).push({});

GTPay



GTPay is a product of Guarantee Trust Bank which is one of Nigeria’s

most popular and trusted banks. GTPay is a secure way of making

payments online. The website plugs in with the existing websites of

its customers (merchants) and acts as a bridge between the

customer’s website and the financial institution(s) to be used.

GTPay also accepts both locally and internationally issued cards

including that of Interswitch, MasterCard, and VISA. For local

transactions, merchants get their payment the next working day after

the transaction has been made, while international transactions get

paid after 48 working hours. With GT pay, merchants can also view

transactions as they occur. GT pay is set up for N75,000.



When using MasterCard/Visa for local transactions: 1.5% of the

transaction amount is charged (subject to a maximum amount of N2000)



When using Interswitch Verve card for local transactions: 1.5% of the

transaction amount is charged (subject to a maximum amount of 2000)



When using MasterCard/Visa card for international transactions: 3% of

the transaction amount is charged



Internationally monthly charge of N5,000



Note: You must have an account with GTBank to be able to use GTPay.







(adsbygoogle = window.adsbygoogle || []).push({});

e-Ttranzact



eTranzact is another application for online payment and processing.

eTranzact has operations in many African countries such as Nigeria,

Ghana, Kenya, Zimbabwe, South Africa, Cote d’Ivoire, and also the

United Kingdom. With eTranzact, you can process all kinds of payments

from ATM, Internet, POS, and Mobile. eTranzact also accepts all

Nigerian bank cards such as Visa and Master Cards.



VoguePay



With VoguePay, a business owner who has a website can receive payment

for their goods and services without having to pay any fee for setup.

VoguePay is a global platform, thus it allows consumers and businesses

to safely make transactions in all major currencies, regardless of

their location. With VoguePay, merchants can give their own customers

more online options, ranging from internet banking (direct pay),

wallet transfers, mobile payment, subscription billing to Bitcoin

payment. One can also receive and make online payment people who do

not have a Voguepay account.



CashEnvoy



CashEnvoy is a payment service in Nigeria that allows businesses to

receive payment online. Websites that use CashEnvoy can accept payment

from all the major Nigerian bank cards and also from the CashEnvoy

wallet. CashEnvoy allows users to transfer money from

person-to-merchant using the web application and personal email

addresses, bank accounts, and debit cards. With CashEnvoy, you can

also send money without sharing your financial information.

Registering with CashEnvoy and making transactions is free of charge.



Making transactions to business accounts only is free.



For withdrawal of funds: N120.00 is charged for withdrawals of

₦4,000.00. When receiving payments within the country, 1.5% of the

transaction amount + N25.00 is charged



For international transactions, 3.9% of the transaction + N12.60 is charged



FirstPay Link



FirstPayLink allows internet payments using InterSwitch, eTranzact,

Visa, and MasterCard cards. It is a product of First Bank Nigeria. A

setup fee of N50, 000 is charged per card. When making transactions,

1.5% of the transaction amount is charged (subject to a maximum of

N2,000)



GlobalPay



Those who use GlobalPay are able to receive payments via MasterCard,

Visa, Verve, and eTranzact cards from any part of the world. One is

also able to monitor mobile payments and view previous transactions

via an online log. GlobalPay is a product of Zenith Bank Nigeria. For

local transactions, GlobalPay charges a Setup fee of ₦75,000.00



Transaction fee: 1.5% of the transaction amount is charged (subject to

a maximum of ₦2,000)



For international transactions, 3.5% of the transaction amount is charged.



Monthly Access Fee: ₦5,000.00



Foreign Settlement Charge: $50 (per settlement)



PayU



PayU operates across Asia, Africa, Central, and Eastern Europe, Latin

America, and the Middle East. The website accepts local and

international Mastercard, Visa, Verve, and online electronic bank

transfer and even offline payment. The set-up is free.



Remita



Remita is one of the most popular payment gateways in Nigeria. It is

used even by government agencies which speak of its reliability.

Remita offers a wide range of services such as Internet Banking,

Debit/Credit Cards, Mobile Wallet, mPOS, Electronic Purse, etc.

















(adsbygoogle = window.adsbygoogle || []).push({});







(adsbygoogle = window.adsbygoogle || []).push({});

jQuery(document).ready(function( $) { $.post(

'https://nigerianfinder.com/wp-admin/admin-ajax.php', {action:

'mts_view_count', id: '290298'}); });









Share









Tweet



0

Shares

Comments

Post a Comment

Popular posts from this blog

Problems of Agricultural Programmes in Nigeria

Share Tweet 0 Shares The Agriculture sector in Nigeria has huge potentials that have not been fully harnessed. The sector has in fact gone through various phases of development that involved policies and agricultural programs. Every policy and agricultural development in Nigeria are set up with the aim of increasing the impact of the sector on national development. Different governments have gone on to initiate several agricultural policies and programs to ramp up agricultural productivity in Nigeria. An agricultural programme entails a comprehensive plan that includes the aims and objectives to be attained in the agricultural sector, the resources required and other activities to be performed in order to achieve certain goals in the agricultural sector. The use of agricultural programs as a tool to achieve productivity in Nigeria dates back to the colonial era and even many more programs have been set up after that. In spite of all this, it is generally accepted that Nigerian agricult...
Read more

Problems of Contributory Pension Scheme in Nigeria

Share Tweet 0 Shares A pension refers to payment made by the government of a country to its retired citizens. It is an arrangement between citizens and governments wherein a worker deposits a certain percent of his or her salary to a pension account so that upon retirement, they can have access to these funds. (adsbygoogle = window.adsbygoogle || []).push({}); Before 2007, Nigeria operated a defined benefits system where the pension account was funded solely by the employer, or in the case of the civil service, by the government. This meant that retirement benefits were included in the annual government budget. This was difficult to maintain for the employers because it was too expensive. Hence the introduction to the contributory pension scheme. Under the contributory pension scheme, it is the responsibility of both the employer and the employee to contribute to the pension account. The employee pays a minimum of eight percent of his or her total monthly remuneration while the employe...
Read more

Problems of Curriculum Planning in Nigeria

Share Tweet 0 Shares Curriculum planning has to do with gathering relevant information from many sources that will help design the details of the courses and subjects taught in school to a learner. The purpose of a curriculum is to enable learners to acquire the knowledge and skills that will ensure they are effective in society. Curriculum planning is a process that entails making strategic decisions and selecting what works best for the students. Most essentially, those planning have to observe and consider the needs of society, in order to adequately meet those needs. Curriculum planning involves designing and re-designing the programme to ensure all factors necessary to facilitate teaching are well covered. These include: What to teach and to whom, Qualifications for who teaches, Materials and resources to be used, Condition and place to teach, etc. This article is on the problems of Curriculum planning in Nigeria. (adsbygoogle = window.adsbygoogle || []).push({}); Problems of Curr...
Read more