In the past, to make payment for goods and services as a client was a difficult task. It was inconvenient to queue at the bank to pay for goods worth less than N5000. With ePayment Gateways springing up since the last few years, there has been a change in the Nigerian eCommerce sector. Now, as a merchant, you can receive payments, and as a client, you can make payments in an easy, fast, and secure way.
A Payment Gateway acts as a bridge between the merchant’s website or app and his bank. When you pay through a payment gateway, the merchant’s website forwards your debit/credit card credentials to the gateway for authentication. If the payment details are found to be correct from the bank, your payment is transferred to the merchant’s bank account, thereby deducting the said amount from your bank account.
Best Payment Gateway in Nigeria
With Interswitch, your business can receive payments for goods and services online. The same applies to individuals who want to make payments. The platform offers Interswitch WebPay or Webpaydirect for web merchants who want to receive payment from cardholders over the internet.
Paystack makes payment in a significant way. It is a popular option for businesses that are in need of payment features to accept and make payments online. Paystack is affordable, fast and straightforward to use and many businesses utilize it. Even big companies like GIGM, MTN are users of the fintech platform.
GTPay is owned by GTBank, and it is one of the payment gateways that exist in Nigeria. Conveniently pay for goods and services as a customer or receive payment as a merchant with this service from one of Nigeria’s most popular banks. You receive payment as a merchant within 24hours, and you must have a GTBank account to set it up.
Flutterwave is another payment option that makes payment process easy in Nigeria. You can pay in Naira for products and services with Flutterwave. Flutterwave works closely with banks and payment-service, integrating them so that expenses don’t tell on your business. With Rave from Flutterwave, you can accept debit/credit payments from customers in 154+ countries on your website.
With VoguePay, you have simple, safe and secure payment. It is one way you can receive or make payments in Nigeria. No matter where you are, you can make financial transactions as in payments in all major currencies. The platform has many payment channels from which your customers can choose from. Also, VoguePay accepts payment in Bitcoin.
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Etranzact
eTranzact Webconnect makes payment processes easy for merchants. The eTranzact merchant website is integrated with the solution. Visa and Master Cards are supported on the platform and other local and international cards. It can allow you to credit more than one account at the same time in real-time.
As a business owner, use 2checkout to receive global payment from your customers. The platform allows you to use payment options such as card payment, American Express, Diners Club, PayPal, and many more. 2checkout is an American platform that gives Nigerians access to payment options.
SimplePay is a payment gateway with businesses and consumers in mind. With the platform, having a valid email address and bank account are what you need to send and receive payments online via your mobile phone. SimplePay makes payment well for small businesses, online merchants, individuals, and others.
CashEnvoy is one of the payment platforms that exist in Nigeria. It lets you access payment features for goods and services. It does this smartly and securely and is suitable for merchants. The platform came into the scene in 2009, and it is approved by the Central Bank of Nigeria.
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Switchtellerpay
SwitchtellerPay is the payment product of Emrinet Mobile LTD. On their e-payment portal are features that allow you to make payments such as pay TV, utility bills, bulk messaging, etc. You can receive and send money in real-time, and you can also top-up airtime of all networks.
