Nigerian consumers have adopted online payments instead of traditional methods because they are fast, safe, and convenient.
As a result, as a merchant, you can choose from a wide range of online payment gateways in Nigeria.
Before choosing which online payment gateway to use, you must review and see which best suits your business.
You should know the solutions that everyone offers, as well as the prices and payment methods.
Is it local or international? Is it safe and secure? You can also go online to learn what people say about each payment gateway.
In this write-up, we will discuss the most popular online payment gateways in Nigeria, with their features and prices:
1. Paystack
Paystack is presently one of the most popular online payment gateways.
It allows merchants to accept their customers’ online debit and credit card payments.
It’s a reliable and straightforward way to accept multi-channel payments, use payment sites to launch online promotions for your products and services without writing code and manage your subscription business easily.
As a Paystack merchant, you can pay directly from the Paystack dashboard to any Nigerian bank account.
- Registration fees: free
- Local cards: 1.5% + N100
- International cards: 3.9% + N100
- There is an N100 charge for transactions below N2,500.
2. Flutterwave
Flutterwave makes it effortless for banks and businesses to process payments across Africa.
The online payment gateway allows consumers to pay for things in their local currency; Flutterwave is liable for integrating banks and payment service providers into its platform so that companies do not have to bear costs and charges.
Rave is a Flutterwave product that permits website owners to receive debit/credit card payments from customers in more than 154 countries. Flutterwave supports Visa, MasterCard, and Verve.
Your clients in the United States, South Africa, and Nigeria can pay you directly from their bank accounts.
3. GTPay
GTPay is a by-product of GTBank, one of the major banks in Nigeria. GTPay is a secure online payment gateway designed to facilitate online payments.
It links existing customers’ websites and bridges the users’ websites and financial institutions.
It also accepts local and international cards, including Interswitch, MasterCard, and Visa.
Merchants receive value for local transactions the next business day after the transaction and 48 business hours for international transactions.
GTpay allows merchants to review transactions as they occur.
- Registration fee: N75,000
- MasterCard/Visa (local): 1.5% of the transaction amount
- Interswitch Verve (local): 1.5% of the transaction amount
- MasterCard/Visa (international): 3% of the transaction amount
4. Interswitch Webpay
Interswitch Webpay is an integrated Africa-based digital commerce and online payment gateway company that enables electronic money flow and the exchange of values between individuals and organizations in a timely and consistent manner.
An online merchant can receive online payments from cardholders via Interswitch WebPay or Webpaydirect.
- Registration fee: N150,000
- For every successful transaction, a fee of 1.5% of the transaction value is charged to a cap of N2000.
5. eTtranzact
eTranzact is among Nigeria’s multi-application and multi-channel platforms for exchanging electronic transactions and processing payments.
eTranzact operates in Nigeria, Ghana, Kenya, Zimbabwe, South Africa, Cote d’Ivoire, and the United Kingdom and is expanding to many other countries.
eTranzact online payment gateway services include all types of electronic payments from ATMs, the Internet, points of sale, and mobile devices.
eTranzact also accepts all cards issued locally by Nigerian banks, such as Visa and Master cards.
6. VoguePay
VoguePay is an online payment gateway that allows a website owner to access their website without paying a fee for goods and services.
VoguePay’s global coverage permits consumers and businesses to securely make and receive payments in all major currencies, regardless of location.
It allows merchants to offer their customers more payment methods via the Internet, from online banking (direct payment), wallet transfer, mobile payment, and subscription billing to Bitcoin payment.
Receive and make payments online from anyone, whether you have a Voguepay account or not.
- Registration fee: N1500 (with the Corporate Affairs Commission Certificate) and N2500 (with government-issued identity cards)
- Payment Method: MasterCard, Verve – 2.5%
- Visa card (Vpay): 1.5% for transactions below N2000
7. SimplePay
As the name implies, SimplePay is an online payment gateway that allows you to make safe and secure online payments with just an email address and a bank account.
SimplePay is formulated for merchants, small-scale business owners, and individuals. SimplePay was established in 2013 and started operations in 2014 Abuja, Nigeria.
- Registration fee: N300 to verify bank account
- Payment method: MasterCard Verve/Naira – 1.5%
- ETranzact/Web Card – 1.5%
- Visa (Vpay) – 1.5%
- Withdrawal of funds: Transfer money to your linked bank account – N300.00 per transaction.
8. CashEnvoy
CashEnvoy is an online payment gateway service in Nigeria that allows businesses to receive payments online.
Websites that accept CashEnvoy can accept payments from all major Nigerian debit cards and CashEnvoy wallets.
CashEnvoy facilitates the transfer of money from a person to a merchant via a web application and personal email addresses.
With the CashEnvoy online payment gateway, you can send money without sharing your financial information and pay via bank accounts and debit cards.
Registration and CashEnvoy payments are free.
- Payments to a business account – free
- Local payment – 1.5% + N25.00
- International payment – 3.9% + N12.60
- Withdrawal of funds: N120.00 withdrawal fees for N4000.00 or less)
9. FirstPay Link
FirstPay Link is an online payment gateway that allows online payments on merchants and e-commerce sites. It is a multi-platform internet payment.
It allows online payments via Interswitch, eTranzact, Visa, and MasterCard. FirstPayLink is a by-product of First Bank Nigeria.
- Registration fee: A one-time implementation fee costs N50,000 per switch (card scheme).
- Transaction fees: 1.5% of the transaction costs, provided the maximum is N2000.
10. GlobalPay
Thanks to its unique integration, GlobalPay allows merchants to receive payments via MasterCard, Visa, and Verve cards from anywhere in the world.
Your website will also have the functionality to accept and monitor mobile payments and the GlobalPay online payment gateway.
An online log is available to view all transactions on your website.
GlobalPay receives MasterCard, Visa, Verve, and eTranzact cards. GlobalPay is a by-product of Zenith Bank, Nigeria.
- Registration fee: N75,000
- Local charges – 1.5% of the transaction amount provided it is a maximum of N2,000
- International charges – 3.5% of the transaction amount
11. U-collect
U-Collect is an online payment gateway that allows merchants to accept card payments from customers who wish to make an online purchase using different cards.
This online payment gateway connects merchants, cardholders, and financial institutions, providing secure transactions and timely payments.
It handles all types of local card payments (Verve, Genesis, MasterCard, Visa, and eTranzact) and accepts international MasterCard and Visa payments.
U-collect is a by-product of the United Bank for Africa(UBA)
- Registration fee: free
- Monthly fees: free
- Transaction fees: 1.5% of the transaction amount with a maximum cap of N2000 for every transaction.
12. Remita
Remita is one of the most popular online payment gateways in Nigeria.
Remita is the government’s number one choice for collecting digital payments, which means they are safe and reliable.
Remita’s online payment gateway offers various payment methods, including online banking, debit/credit cards, bank branches, point-of-sale terminals, mobile wallets, cashiers, mPOS, direct debits, standing orders, and electronic wallets.
- Registration: free
- Local payments: 2% (Min.100 – Max. N2500)
- International payments: 4%
