Let’s look at the top 5 best payment gateways in Nigeria you should think of when you want to integrate an online payment.
With the pace at which businesses in Nigeria are moving online, there is no room for traditional brings and mortar stores. Infrastructure is becoming or even location is becoming less important.
People only need either a website or a marketplace platform to sell their goods or products directly online.
What becomes the problem here is receiving payment online for the products or services. Take a look at eCommerce businesses, they sell and take payments online and then deliver the products to their customers.
As a business or someone who wishes or is selling products and wishes to start receiving payment online, getting a strong and secured payment gateway that is trusted is the first thing you should think of.
While on lockdown in 2020, I did organize an online Digital skills class. How did I get my pay from the participants? online payment gateway. I got my money directly into my bank account while sending receipts to all who paid using the online method.
The interesting aspect is that it was convenient for me and my buyers since they had to pay money right anywhere they were why I inturn received while even when I was in bed. Apert security, data retention, speed, and accurate payment, the biggest thing here was it saved my time.
Top 5 Best Payment Gateways in Nigeria
Am writing about these top 5 best payment gateways in Nigeria to help those not sure of what payment gateway to use for their next business payment collection.
So, let’s take a look at what a payment gateway is and what makes a payment gateway a good payment gateway.
A payment gateway is just a web platform that authorizes credit card or direct payments processing for e-businesses. It enables you to receive online transactions from your clients or customers when you choose they pay you via credits, eChecks or even cryptocurrencies.
Now, when choosing a payment gateway for your business in Nigeria, there are some important features you need to consider. These features should never be overlooked.
- Security: A payment gateway without secured network security is not worthy to be used at all. Your customers need to have a feeling that their financial information will remain secure on your platform while making purchases online from you. Always read the PCI compliance of any payment gateway before you make a decision of using it.
- A smooth customer experience: The payment process online should not be long and complicated as it tends to drives customers away. Always choose a payment gateway that provides mobile optimization options. It shouts be possible for customers to be able to checkout on your platform using their smartphones.
- International Payments: Only go for payment gateways that accept international transactions so as not to limit your customer base. Let your customers come from all parts of the world who should be able to purchase your product or services from you online without hitches.
- Transaction Fee: Transaction fee varies for gateways in Nigeria. I advise you always go for ones that at least will allow you to decide from where the transaction fee is to be added. This will enable push all transaction fee to your side to avoid overbilling your customers.
Top 5 Best Payment Gateways in Nigeria
The most sophisticated modern online and offline payment gateway I recommend you always for anytime any day. Paystack gives your customers the gift of a modern, frictionless, painless, and seamless payments experience.
They allow both small and large businesses to receive payment via credit cards, Bank account, Bank transfer, USSD, Visa QR, and Mobile Money.
Most interestingly, you must not own a website to get paid online. They provide you with payment pages, invoices, and storefronts.
Their combination of automated and manual fraud systems protects you from fraudulent transactions and associated chargeback claims.
For local transactions, Paystack charges 1.5% + ₦100 fee waived for transactions under ₦2500 for local cards. Local transactions fees are capped at ₦2000, meaning that’s the absolute maximum you’ll ever pay in fees per transaction.
For international transactions, they charge 3.9% + NGN 100 for foreign payments. International cards are charged and settled in Naira by default, but you can also choose to get settled in USD.
Payments created on your website will be remitted on the next day except for weekends and public holidays.
Being one of the best online payment gateways, Flutterwave works just like Paystack. With it too, you can receive payment locally and globally with no hassle and setup fees.
They provide the fastest, most seamless payments solutions to suit your business needs, anywhere in the world. With them, you can create and manage virtual cards on our card issuing platform. This means you can generate cards for your team and add spending or site-specific limits.
3. Refresh or check back latter….
Payment gateway will make a large impact on your business and it will become one of the key factors for your business improvement.
In conclusion, you need a payment gateway whether your business is big or small. With a payment gateway, time is saved. It will make a large impact on our business and most times becomes the key factor for our business improvement.