With an online payment gateway in Nigeria, you can process credit card orders and other payment methods from your website in real-time. A payment gateway can be integrated with almost any website and a virtual shopping cart.
As an individual or business owner intending to buy or sell online, you must have established a merchant or personal account at a bank before you can engage the services of an online payment gateway that is, a payment processing firm. Let’s take you deep into what payment gateway in Nigeria really means before we look at the top payment gateways.
According to referenceforbusiness, the online payment gateway in Nigeria are the various methods by which individuals and companies doing business engage the service of an online payment processing firm in other to collect money from their customers in exchange for the goods and services they provide.
A number of different forms of payment exist for online purchases, and more are being developed all the time. After all, it is in the best interest of both consumers and merchants to make electronic commerce as safe and easy as possible.
Popular options in Nigeria payment gateway
I remember those days when banks were reluctant to do business online with a service bureau because of the perceived security risks. Now, due to high-level internet activities and online transactions, banks have begun offering an increasing number of services online in response to customer demands.
Credit cards remained the most common means of online payment in Nigeria. They are also among the easiest payment methods, for consumers as well as for business owners. According to online survey research, many consumers feel greater confidence in any online transactions when they used a credit card, knowing that a third party (the credit card company or issuing bank) was involved and could help protect them against fraud.
Like I mentioned earlier, Payment gateway processing firm may be banks or other institutions that act as middlemen in financial transactions between merchants and customers. For small businesses, a payment gateway eliminates the need and expense of setting up a secure Web site. Payment gateways also provide consumers with added protection from fraud, since the merchants never handle their credit card numbers.
USSD Code: You don’t have your credit cards on you? Top payment gateways in Nigeria make provision for ussd payment. Once the order had been placed, and you choose ussd payment, a ussd code will be generated for you to complete payment.
Direct bank account: This involves redirecting you to your bank account online to complete payment. Once you make the payment, you will be redirected back to the merchant website with a payment confirmation message.
Before you read through the best payment gateway in Nigeria, let me tell you how a payment gateway works. Online payment gateway in Nigeria does three things when a customer makes a purchase from your site using a credit card or other payment options. These are authorization, settling and reporting.
Authorization for Credit cards
Any purchase made with a credit or debit card via a payment gateway must first be authorized by the credit card issuer. The payment gateway checks that the credit card is acceptable and creates a secure link between you, your customer and your credit card processor. It also allows for fast and efficient transaction processing, within two seconds. USSD code and Online internet banking make take extra minutes due to many clicks and pages.
Settling
At the end of the day, the online payment gateway groups all of your transactions together and sends them to your bank in a single batch. This process, known as settling, passes the transaction to your bank so that you receive payment. Some payments may withhold your money for a specific number of days before sending to your bank account.
Reporting
All of your transactions are recorded and you can view, print or download them using payment gateway reporting features.
Benefit of using an online payment gateway.
- Unlimited Users: With an online payment gateway, an unlimited number of users can use the gateway at the same time instead of waiting for turns.
- An online payment gateway also offers fraud screening tools to reduce the risk of fraudulent transactions. Fraud screening tools include: Name and Address Verification Service, card code value (CCV) and card verification value (CVV). An internet payment gateway also helps prevent fraud and reduces your liability by storing the credit card transactions in the gateway (instead of on your website).
- To accept payment, you don’t need a website. Except you’re selling a product or service. All payments process usually occurs within the payment gateway website.
- Recurring billing options help a customer make a recurring payment without visiting your website. This is great, especially for the subscription-based website. Customers also receive notifications you for payment and can cancel anytime.
- As a business owner or merchant, you will receive mail alert of every new payment from your payment gateway.
Best payment gateways also support international transactions. Meaning, you can receive money from anyone in the world without going through the bank process of verification.
There are more than 20 indigenous payment gateway in Nigeria with stiff competition and if I’m to include an international payments gateway that supports Nigeria locally and international transactions, then the list will go up to 50. If you wish to accept payment online in Nigeria, you should consider this
- Made in Nigeria
- Support payment options aside credit cards
- Support international payment
- Support WordPress Integration
- Support Woocommerce Integration
- Support Magento Integration
- Support Prestashop Integration
- Support Drupal Integration
- Support Joomla Integration
- Support Opencart Integration
According to popularity and payment processing options, this is the best payment gateway in Nigeria
Paystack:
A modern, beautiful payment gateway in Nigeria that gives customers confidence in their business with a modern, gorgeous checkout form that elevates customer’s brand. Verify identity with a bank account number; Verify identity with a phone number; Verify identity with a Bank Verification Number (a unique identifier that everyone with a Nigerian bank account must have) including;
- Checkout Form Compressor
- No redirects – keep your customers on your own page
- Automatic error resolution – in the rare occasion where a transaction fails, the Paystack Checkout Form smartly suggests other payment options
Paystack is one of the best online payment gateways in Nigeria, in fact, if you can imagine it, you can build it with Paystack. Collect one-time and recurring payments from your app or website, make instant transfers, retrieve all your transaction and customer data and verify the identity of customers.
One good thing about this best payment gateway is that it provides a seamless payments experience. That is, it gives your customers the gift of modern, frictionless, painless payments. Integrate Paystack once and let your customers pay you however they want. Accept payments on all major shopping platforms and moreover, you can accept payment without a website.
- Card
- Bank Account
- GTB 737
- Visa QR
- Mobile Money
- mCash (Coming soon)
- POS (Coming soon)
With paystack, you can control access to data with User Permissions that is to give specific members of your team exactly the permissions they need to do their jobs and control exactly what they can see and do on your Paystack Dashboard.
- Made in Nigeria
- Startup friendly
- Support payment options aside credit cards
- Support international payment
- Support WordPress Integration
- Support Woocommerce Integration
- Support Shopify Integration
- Support Magento Integration
- Support Prestashop Integration
- Support Drupal Integration
- Support Joomla Integration
- Support Opencart Integration
GTPay:
GTPay is one of the best online payment gateways in Nigeria by GTBANK to facilitate payments online using Debit Cards issued by banks on the Interswitch Network. GTPay can be integrated seamlessly with the existing websites of customers and acts as a bridge between the customer’s website and financial institutions (Banks).
The payment solution:
- Provides a convenient alternative payment channel to all customers
- Enables cardholders to pay merchants (GTBANK customers) for internet purchases of goods and services from any location by supplying details of their local debit/credit cards
- Ensures transaction amount is deducted from cards instantly and merchant’s account credited within 24 hours
Benefits
- Convenient means of payment
- Acceptance of both local and international cards
- Global reach for merchants
Features of GTPAY payment gateway
- Timely transaction processing: Merchants get value next working day after transaction takes place for local transactions and 48 working hours for international transactions
- Reduced sign-on fee: GTBank is a certified developer partner so we take off GTPAY setup fee for our merchants and as such the set-up fee is waived for them.
- International Acceptance: GTPAY accepts both locally and internationally issued cards including Interswitch, MasterCard and VISA. For local transactions, the commission to be paid is 1.5% ad international commission is 3%
- GTPAY monitoring log: GTPAY comes with a unique, online monitoring console that allows merchants to view transactions as they occur.
Keynote
- Made in Nigeria
- Support payment options aside credit cards
- Support international payment
- Support WordPress Integration
- Support Woocommerce Integration
- Support Shopify Integration
- Support Magento Integration
- Support Prestashop Integration
- Support Drupal Integration
- Support Joomla Integration
- Support Opencart Integration
Interswitch:
Interswitch is one of the best online payment gateways in Nigeria and one of the first online gateways which is an Africa-focused integrated digital payments and commerce company that facilitates the electronic circulation of money as well as the exchange of value between individuals and organisations on a timely and consistent basis.
The company started operations in 2002 as a transaction switching and electronic payments processing company that builds and manages payment infrastructure as well as deliver innovative payment products and transactional services throughout the African continent.
With a strong competence in providing secure and continuously available Information technology/infrastructure solutions and services, Interswitch helps customers reduce costs, increase revenues, tighten security, expand product offerings, and improve service levels on technology.
Keynote
- Made in Nigeria
- Support payment options aside credit cards
- Support international payment
- Support WordPress Integration
- Support Woocommerce Integration
- Support Magento Integration
- Support Prestashop Integration
- Support Drupal Integration
- Support Joomla Integration
- Support Opencart Integration
Vogupay
VoguePay is one of the best online payment gateways in Nigeria. VoguePay is a user-friendly online payment platform that allows you to send and receive payment easily from anyone, in any currency. Accept payment through Card transactions and Bank transfers. With Voguepay online payment gateway, you can scale your business to reach a global audience. Sell where you have not sold before and reached new customers all over the world. With simple payment API, you can start accepting payments from all card types for local and international transactions.
Why VoguePay
- International payments: VoguePay’s global coverage allows consumers and businesses to safely make and receive payments in all major currencies, regardless of location.
- Give your customers more ways to pay online: Stop losing sales. Give your customers more ways to pay online: Internet banking (direct pay), wallet transfers, mobile payment, subscription billing.
- Business Intelligence and analytics tools: Get a bird’s eye look of your sales, revenue and cashflow with detailed reports. We also send a weekly performance report to keep you updated.
- Multiple payment channels: Accept payment any way you want. Give your customers options.
- Easy Account Management Opt for business or personal accounts based on your needs.
- Multi-currency support Accept payment in multiple global currencies. Get paid in your default currency.
- Good Technical support Enjoy world-class support that is available 24/7
Features of Voguepay payment gateway
- Multiple payment channels.
- Accept or make payments through most major channels including Local and international visa and MasterCard; Interswitch / verve cards Etranzact / pocketmoni
- Ticket sales and bookings
- Send money worldwide
- Send money to atm machine in Nigeria with Voguepay code based cardless withdrawals option; you can now send funds to anywhere in Nigeria. Voguepay will send SMS/email notifying the recipient of the funds which can be withdrawn on any atm in Nigeria using the code generated
- Payment link: Payment links allow you to receive payment through a link that is presented as a web URL.
- Very simple API: Voguepay robust developer API is built to be simple yet effective. Developers do not need to crack their brains to implement our rest API.
- Free installation/integration on your website. Don’t want to integrate it yourself? Voguepay professional programmers will do it for you. For free!
- Email invoicing: Generate invoices from your account using the Voguepay email invoice feature and request payment from any customer at any time and receive payment immediately.
- Multiple stores: If you sell multiple items on your website you can differentiate them by creating a store for each. Voguepay will generate a store id for you to use for your new product, e.g. a university may use voguepay stores to differentiate hostel fees, school fees, library fees and faculty fees.
Keynote
- Made in Nigeria
- Startup friendly
- Support payment options aside credit cards
- Support international payment
- Support WordPress Integration
- Support Woocommerce Integration
- Support Magento Integration
- Support Prestashop Integration
- Support Drupal Integration
- Support Joomla Integration
- Support Opencart Integration
Remita:
Remita is one of the online best payment gateways in Nigeria that was launched in 2005 and is fully developed in Lagos Nigeria. Remita is a comprehensive payment solution for anyone and everyone in Africa. Fast emerging as Africa’s preferred payment platform, Remita is chosen by millions of people and thousands of organisations. It is the default payment gateway that facilitates the Federal Government of Nigeria’s Treasury Single Account (TSA), the largest and most impactful of its kind in Africa.
Whether you intend to use Remita for personal or business purposes, this multi-device platform lets you view all your bank balances – from different banks – on a single screen, easily transfer money to one or more beneficiaries, pay bills, view detailed transaction reports on-the-go and much more.
Features of Remita payment gateway
- View Multi-bank account balances
- Standing Orders & Recurring Payments
- Pay Bills (Utility bills, Subscription Fees, Donations & more)
- Pay directly to government TSA or other regulatory bodies
- Send or Request money from Family & Friends
- View Payslips
- View comprehensive expense reports
- Generate & track detailed transaction history reports
- Buy Airtime for single or multiple numbers
- Receipt Management
- Snap to Pay
- Pay for Others
- Multi-Profile Management (Personal & Business)
- Manage daily limit spending
- Manage devices connected to profiles
- Free Setup & Integration
Keynote
- Made in Nigeria
- Support payment options aside credit cards
- Support international payment
- Support WordPress Integration
- Support Woocommerce Integration
- Support Magento Integration
- Support Prestashop Integration
- Support Joomla Integration
- Support Opencart Integration