The area of Financial Technology in Nigeria has these days blossomed, leading to the emergence of many rising financial technology businesses, that have completed extraordinary fulfilment and executed an increase in income, ensuing in a big boom within the financial system of Nigeria, the most crucial of that is payment gateway in Nigeria and you may Identify them via reading.
Most Popular Payment Gateway in Nigeria
Paystack helps businesses in Africa get paid by anyone, anywhere in the world. Paystack merchants enjoy some of the best online payments success rates in Nigeria. Both registered and unregistered businesses are eligible to use Paystack. These are known as Registered and Starter Businesses respectively.
Setup Fee: Free.
Local Cards: 1.5% + ₦100.
International Cards: 3.9% + ₦100.
a provider of global payment and receivables solutions for education, healthcare, and business, announced Tuesday (March 20) that it has inked a new deal with Flutterwave, a payments API that makes it easier for banks and businesses to process payments across Africa.
Payment method: MasterCard, Visa, Bank Account, USSD- 1.4%Processing Fee.
MasterCard, Visa, American Express-3.5% Processing Fee.
GTPay is a secure internet payment gateway targeted at facilitating payments online. It plugs in with the existing websites of customers and acts as a bridge between the customer’s website and financial institutions. It also accepts both locally and internationally issued cards including Interswitch, MasterCard and VISA.
Setup fee: N75,000.
MasterCard/Visa (local): 1.5% of transaction amount (subject to a maximum of N2,000).
Interswitch Verve (local): 1.5% of transaction amount (subject to a maximum of N2,000.
MasterCard/Visa (International): 3% of transaction amount; no cap.
International Gateway Monthly Charge: N5,000.
Interswitch WebPAY Payment Page is a simple page that can be called from any website seeking to offer visitors the facility to pay for goods or services by their bank-issued cards or other payment tokens.
Setup fee: N150,000.
eTranzact is a multi-application, multi-network and multi-channel electronic payment platform that supports all major networks including AMEX, VISA and MasterCard. eTranzact also accepts all cards issued locally from Nigerian banks eg cards like Visa and Master Cards.
VoguePay’s global coverage allows consumers and businesses to safely make and receive payments in all major currencies, regardless of location.
Setup fee: N1500 (with Corporate Affairs Commission Certificate) and N2500 (with Government issued Identity cards).
Verve Card/ Naira MasterCard: 2.5%.
Visa (Vpay) integration: 2.5%.
International Payments( USD Debit/Credit Card Visa and MasterCard): 4.5% (No Gateway Fees Applicable).
Withdraw Funds: 1% + 120 Naira.
SimplePay allows users to pay their Mexico bills online. Services like electricity, water, gas, telecommunications, & more than 30 services
Setup Fee: N300 per bank account verification
Verve Card/ Naira MasterCard: 1.5%
eTranzact Card/Web: 1.5%
Visa (Vpay) integration: 1.5%
International Payments (Debit/Credit Card Visa and MasterCard-Zenith Bank Transfer): 5%
Withdraw Funds: Transfer money to your linked bank account: N300.00 per transaction. SMS Charges: N2 Receive Money: 1.00% plus N10.00 per transaction.
CashEnvoy is a payment service in Nigeria that allows businesses to receive payment online. Websites that accept CashEnvoy can accept payment from all the main Nigerian debit cards and also from the CashEnvoy wallet.
Send/Make Payments (To business account only): Free.
Withdraw funds: N120.00 (fee for withdrawals of ₦4,000.00 or less).
Local: 1.5% + N25.00.
Intl: 3.9% + N12.60.