When running an online business, you need to facilitate payment solutions for your business, It’s likely that you are looking for a suitable guide regarding this. Make sure you bookmark this article and read it intently.
It is recommended to choose a payment gateway that is easy to use, accepts major payment sources and offers good customer service support in Nigeria.
These payment gateways in Nigeria are used to make it possible to receive and send money from one person to another electronically.
This article reviews the top 20 payment gateways in Nigeria that will help you run your eCommerce business and website successfully.
Considering eCommerce has now become the new oil in the business world, most companies have been fighting to gain an online audience which will help them sell goods or services to their customers/clients.
As a result, the growth of e-commerce in Nigeria has been sluggish because there are no adequate methods for payment and delivery online. This prevents the establishment of web stores in the country.
Statistics show that 84% of consumers prefer to pay by card, so it’s safe to assume that 84% of your customers do the same.
Hence the reason you need to have integrated a payment gateway as soon as possible.
Our digital age demands that more of your customers will pay you through digital channels, and you must also have renewed a subscription, scheduled a paid consultation, or ordered something online.
Therefore, everyone prefers to pay online – including your customers.
Following that, we have researched a list of the 20 best payment gateways in Nigeria and across Africa. These payment methods are the best ones to consider.
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Top 20 Payment Gateways In Nigeria(Fast And Secure Platforms In 2022)
At one point or the other, you must have paid with Interswitch Webpay. They are one of the largest online payment gateways in Nigeria and across Africa.
As the name suggests, “Interswitch” roughly means “swapping and maintaining diversity.” That is exactly their role in the Nigerian and African financial ecosystem.
What makes them different is how they facilitate financial transactions across diverse card schemes like MasterCard, Payoneer Card, Verve, Visa, Diners, JCB, American Express, and Discover.
In other words, your customers have a wide option of card payment.
That is essential because the reason some Nigerian customers leave some online stores or decline some payments is that their card is not part of the options available.
Hence, it suffices to say that the financial inclusion of Interswitch Webpay is their strength.
Foremost, Interswitch has an appealing user interface that will impress almost anyone. Not only that, their interface gives a nice user experience because it’s easier to navigate and interact with.
Originally, Ezra and Shola founded Paystack in 2015. However, according to Techcrunch, the startup has exited the ecosystem, and Stripe has acquired it.
In simpler words, Stripe now controls it.
Without a doubt, Paystack is one of the leading online payment gateways in Nigeria. This is due to their top-notch delivery and because they’ve been around for a while.
Thus, Paystack is the first online payment gateway anyone in Nigeria will recommend for you.
At the moment, they boast of over 60,000 clients. This is not an exaggeration because people—within and outside Nigeria—indeed use Paystack a lot.
You might want to check out Paystack vs Flutterwave – Which Is Best In 2022
3. Rave by Flutterwave
Rave is a new payment solution that was launched by Flutterwave. It enables users to buy products and pay for services at any location in the world without the need for a bank account or a physical card.
Rave is not just an app. It is more like an operating system that can run on any device and enables users to spend money with their phone, tablet or laptop.
The Rave wallet also has a geolocation feature that allows users to find merchants anywhere in the world that accept Rave payments and has an integrated mapping feature so people don’t have to worry about getting lost when they travel either.
The setup is free and local transaction is charged at 1.4% and International Transactions at 3.8% commission.
4. Vogue Pay
Vogue Pay, one of the best Payment Gateways In Nigeria is a company that has taken payment processing to the next level by combining both credit card and cash transactions in one.
The application process is very simple and can be done in just a few steps. It only takes four minutes to complete the whole process. The user can either use their debit card or cash for payment which then gets converted into digital money.
Vogue Pay offers a lot of benefits to its customers as well as merchants with this new tech solution.
For one, it’s more convenient than carrying cash around because there is no need for change when paying with Vogue Pay. Second, the customer can get their receipt and digital money at the same time once they finish making their purchase with Vogue Pay.
Remita.net is a reliable remittance company that has been in the industry for quite a while now. They make sure to deliver accurate and timely remittances to their customers, whether it’s a business or an individual.
Remita is one of the largest international money transfer companies in Nigeria as it is mostly used by State agencies.
If you want to reach a larger global audience, then you’ll need the service of Fliqpay. They provide cross-border payment solutions for businesses all over the world.
Ideally, their use cases are the payment of suppliers, salaries, and customers.
When you pay through them, there’s always a speedy delivery of payouts. You can always use your dashboard to track your payments and every necessary detail.
Thus, you can make and receive payments from anywhere in the world. At the moment, they allow over 14 popular African currencies.
Of course, be rest assured that their currency exchange rate is pretty much friendly and affordable.
Fliqpay is a certified payment gateway, Canadian authorities—Financial Transactions and Reports Analysis Centre of Canada (FINTRAC)—have licensed and regulated it.
As one of the leading banks in Africa, Guarantee Trust Bank has an online payment solution that they call GTPay.
They partnered with the engineering team of Interswitch to carry out this.
At the moment, they are one of the most patronized gateways in the country.
Merchants in Nigeria have found them useful because of their simple integration. Hence, it enhances the user experience of their customers.
Your customers can foot their bills or invoices with any card scheme that they have – be it Verve, Visa, or MasterCard.
That would facilitate a smooth reception of payments from both your local and international clients.
Yes, you should also give a bright charming smile because their integration is as free as fresh air; you don’t need to pay anything.
Dusupay, one of the best Payment Gateways In Nigeria is an African Payment provider which provides incredibly secure, efficient & quick infrastructure for businesses to use.
They’ve been trusted by hundreds of multi-million dollar companies with B2B customers for a long time. They can save a lot of time & effort too!
This payment gateway is free to set up, supporting merchants with up to 5,000 customers. They also have the option of being able to accept Visa, Mastercard & Verve for their users.
DusuPay is a payment gateway that offers one-time and recurring payments to merchants. One-time payment processing is similar to the traditional gateway. However, recurring payments are processed with this company’s own technology.
This payment gateway is the best way to accept and manage payments that recur in Nigeria. All transactions done with this gateway are processed through a 3D secure payment gateway with an SSL encrypted channel.
A unique feature of this gateway is that it will automatically retry payments until it goes through if there is an issue with the customer’s card. Also, you can receive payments without having a website, all you have to do is create a form and send the link to your customers.
The set-up or Amplify is free but there is a fee for every transaction. For local transactions, the transaction fee is 1.5% of the transaction amount while for an international transaction is 3.8%.
Everyone loves simplicity, isn’t it? Then you should love Simple Pay.
If you have an online store where you sell or where people order your goods and services, ensure that you receive payment from all the popular payment methods in vogue.
Part of the payment systems they partnered with is PayPal, Yandex Money, Easy Pay, Web Money, and so on.
They offer you viable ways for your clients—international and local—to pay you within a jiffy.
You can add their gateway plug-in to your website without paying a dime – there is also no background or maintenance fee.
They only deduct when your customers have bought something from you.
2Checkout is the perfect option for you if you provide online services—like advertising and consultancy—or you sell digital products like photography, music, videos, arts, or courses.
They have built a solid legal relationship with over 200 countries.
Therefore, you’re pretty much covered in terms of tax and support from the local payment institutions. That is a huge plus for those who know the implication.
Even if you don’t have a website at the moment, 2Checkout will help you get well-designed landing page templates that will guarantee maximal conversion.
These templates have every necessary web copy and pricing; so you don’t have much work to do.
Besides, 2Checkout has an efficient dashboard where you can oversee your activities, track your performance, and manage your subscribers better.
GlobalPay is one of the best online payment gateways in Nigeria. It’s ideal for any business targeting a global audience.
Acceptance of payment is easier with global pay. It allows your customers to buy with foreign and local cards like Etranzanct, Verve, MasterCard, and Visa.
As one of the best international online payment gateways in Nigeria, they also allow a wide variety of top global currencies.
In other words, your customers will be able to pay in multiple currencies and cards with just one integration.
Their security system is one of the best in the industry due to their 3-D security Hi-Tech facility that can crack hacking, suspend a fishy move, and ensure a smooth financial guardianship.
If you’re considering the best online payment gateways for your business, GlobalPay is quite a good option.
13. Cash Envoy
Cash Envoy is one of the best Payment Gateways In Nigeria. Cash Envoy has existed for over 15 years and they are ready to usher in massive payments from your clients, would you allow them?
As a Nigerian business owner, Cash Envoy is one of the handy options to kick off your online payment.
They have a strong, secured, and speedy payment solution that makes them be above their competitors.
You don’t need to pay any fee—such as integration, withdrawal, or maintenance—to set up their gateway into your website or mobile app.
Everything is completely free, and that should excite you.
In this age, data protection and privacy to any online transactions. Cash Envoy implements an excellent data protection policy that prevents hackers from hijacking your details or robbing you online.
PayU is one of the leading Payment Gateways In Nigeria with up to 400 local payment methods and 50 emerging markets.
It is not targeting the local audience at once. Rather, they are localizing in each country.
For instance, they have PayU India, PayU Nigeria, PayU Egypt, and so on.
They have a direct relationship with the local banks and FinTechs of every country.
Thus, they can offer efficient local payment processing. Their service is a pure combination of local excellence and Hi-Tech.
The name of their gateway solution is PayU Plus. It is best for businesses hoping to collect money from their customers via their online store or website.
With that integration, your customization and branding will be intact – thereby making your customers feel at home the more.
Opay is one of the fast-rising online payment gateways in Nigeria.
They have partnered with Flutterwave and Interswitch to enhance the quality of their service.
They have PCI DSS certification which is an assurance that well-secured and encrypted against frauds. Moreover, they use extremely strong cryptographic scans to measure their security health every day.
Opay is ideal for both online merchants and regular day-to-day customers. They help you to add money, make transfers, and pay bills with ease.
Opay is the easiest way to manage your finances without the frustrating long queue of banks.
Just like a few FinTechs around, they also have their cards.
PayPal’s payment gateway has been helping businesses process payments since its launch in 1998. The credit card company has created an impressive collection of tools that are used by companies to reach their customers. Their platform is easy to use and integrates with various other platforms.
PayPal payment gateway offers many features for credit cards, debit cards, and e-wallets. It also supports customizable metadata, multiple transaction types, and the ability to create invoices for their transactions in order to make it easy for merchants to process payments.
The PayPal payment gateway is used in a wide variety of industries including hospitality, retail, travel agencies, associations, etc. It can be used by both small-scale businesses as well as large-scale corporations that are processing billions of dollars per year in transactions.
The Stripe payment gateway is an API from Stripe, a company that builds tools for developers, which allows payment processing on the internet. When businesses make a purchase from a customer online, they use this payment gateway to process the credit card transactions.
The Stripe payment gateway is a solution that has many benefits. It provides a secure and easy way for businesses to start accepting payments online. The 2 key benefits of using this system are that it’s easy and it’s very fast. In addition to these two benefits, it also has 99% chargeback protection which means you can accept credit card payments with little to no risk of being rejected by your customers.
eTranzact is a very popular electronic payment and transaction gateway company in Nigeria and one of the best at that. This platform is very easy to use and it makes sure that merchants and customers carry out their online transactions very securely and smoothly while having the ability to credit multiple accounts all at once in real time.
This top online payment gateway company is present in Nigeria, Kenya, Ghana, South Africa, Zimbabwe and some countries in Europe. They accept Visa and MasterCard issued by Nigerian banks and their innovative services also include POS, internet, ATM and mobile transactions.
19. FirstPay Link
FirstPay Link is a product of First Bank of Nigeria Limited. This platform integrates merchant websites to allow for internet payments using Interswitch, Visa, Verve and Mastercards debit cards respectively. In order for one to use this service, a set-up fee of about #50,000 is all that is required.
Paga is another Payment Gateways In Nigeria making waves in the FinTech industry. It has made it easy for users to send and receive money in Nigeria and is one of Nigeria’s top 10 FinTech companies in 2022.
It was founded by Tayo Oviosu in 2009 and is one of Nigeria’s top 10 FinTech companies. It has been featured alongside Paystack in the list of the world top 250 FinTech companies.
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Throughout this article, we’ve discussed some of the best payment gateways in Nigeria. The ones we’ve mentioned above are the best of the best, so you’re safe with them.
In order to keep your business running smoothly, choosing the right payment gateway is crucial. Below is a simplified list of the top payment gateways in Nigeria. There are many companies that are interested in accepting payments online, but they each have advantages and disadvantages.
Pay attention to factors such as; payment options, security, transaction fees, merchant popularity, and basic features such as mobile payments or recurring payments when choosing a payment gateway.
We’ve come to the end of Top 20 Payment Gateways In Nigeria( Fast And Secure Platforms In 2022). Thank you for Reading!