The Best Online Payment Solutions for Businesses in Nigeria

As the online business atmosphere in Nigeria is growing, one question most small business owners ask is, "How Do I Receive Online Payments ?" (or its variants). Even though it seems like this is a difficult question ask, the good thing is, there are several online payment solutions in Nigeria. These payment services can be used effectively to receive payments by Nigerians from your eCommerce store.

Disclaimer: This article is to get you informed about the best online payment solutions you can use. We are not responsible for your experiences with them. However, we call them "best" because these are online payment solutions other Nigerian businesses use to receive online payments. Also, most of these "best online payment solutions" has been around for a while. In addition, we have also use a few of them to receive online payments. This article contains information about the online payment platforms. You have a responsibility to dig deep for more information about them.


Online Payment Solutions for Businesses in Nigeria

1. VoguePay

This is a unique online payment processor. VoguePay's vision is to offer buyers and sellers a secure and easy-to-use means of transacting business online. VoguePay allows site owners to receive payment for their goods and services on their website without any setup fee. VoguePay distinguishes itself from other online payment processors with its array of features that are guided by its core values:

• Security
• User Friendliness
• Reliability

voguepay" target="_blank" rel="nofollow">Read more about or register with VoguePay

2. CashEnvoy

CashEnvoy is a payment service that allows businesses receive payment online. The payment platform commenced operations in November 2009. Websites that integrate with CashEnvoy can accept payment from all the major Nigerian debit cards, international Visa/Mastercards and from the CashEnvoy wallet. CashEnvoy is approved by the Central Bank of Nigeria (BPS/PSP/GEN/PSM/02/010) to process web transactions and a member of Electronic Payment Providers Association of Nigeria.

Read more about or register with CashEnvoy


READ ALSO: 9 Ways to Receive Card Payments Online in Nigeria

3. Interswitch WebPAY

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. There is a one-time integration fee of N150,000 and for every subsequent successful transaction, a fee of 1.5% of the value of the transaction subject to a cap of N2,000 is charged. (i.e. for transactions below N133,333, a fee of 1.5% applies), and N2,000 flat fee (for transactions above N133,333).

Read more about Interswitch WebPAY

4. SimplePay

SimplePay's modern and clean APIs let you customise the payment experience that works for your business. Whether your business needs one-time payments, recurring billing or escrow service, SimplePay can cater to your needs. Head to the documentation for more information.

Read more about SimplePay

5. GTBank's GTPay

GTPay is a secure internet payment gateway developed to facilitate payments online using debit Cards issued by banks on the Interswitch Network. GTPay plugs in 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 (our customers) for internet purchases of goods and services from the comfort of their offices/homes 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

Read more about GTPay


READ ALSO: Prepaid Credit Cards in Nigeria for Online Payments

6. Zenith's GlobalPay

With a one-time integration, GlobalPay enables merchants to receive payments via MasterCard, Visa and Verve cards from any part of the world. There are two ways to take advantage of GlobalPAY:

• Direct Integration with Website: The payment gateway is integrated into your website enabling you to receive card payments on the website from cardholders from any bank in Nigeria or internationally.
• Storefront Page: A payment page is hosted for your business on the GlobalPAY Storefront at

Read more about GlobalPay

7. UBA's U-Collect

U-Collect is a Consolidated Internet Payment Gateway Solution which integrates multiple payment solutions available in Nigeria - VISA, Verve, MasterCard and e-Tranzact.

Doing online business or e-commerce in the African market is plagued with so many risks to both merchants and consumers due to the sudden large amount of scams, identity theft, and fraudsters. U-Collect is a solution which allows merchants to accept card payments from customers who desire to do online purchases using their various cards. It is a gateway that connects merchants, cardholders, and financial institutions, offering the assurance of secure transactions and timely payments.

• Simplified integration processes
• Possible integration with corporate core business application if required.
• Possible instant email/SMS notification (on phones of authorised personnel).
• Supports multi-currency: dollar, Pounds, Naira, Euro, etc
• Real-time comprehensive, searchable and downloadable reports accessible by authorised personnel as specified by Corporate.

Read more about U-Collect

8. Paystack

Paystack is a payments platform that makes the online payments process seamless for both the consumers and the businesses they are trying to pay. They make it easy for merchants to accept credit and debit card payments online from customers. Paystack launched in beta in January 2016.

To accept payments online, PayStack helps Nigerian businesses accept Mastercard, Visa and Verve cards from anyone, anywhere in the world.

Read more about Paystack


READ ALSO: MasterCard Online Payment Solution for Nigerians

8. Paga

Paga, a team of passionate Africans determined to tackle what they consider a critical issue paramount to Africa's development - the availability of financial services to all Africans. Paga was founded early 2009 on the simple belief that the ubiquity of mobile phones can be leveraged to bring financial services to all Africans. Their aim is to accomplish their mission by working in partnership with select Banks, Microfinance institutions, and all Mobile Network Operators.

Paga works on the most basic SMS enabled phone and on all mobile networks so customers have the liberty to have their Paga account available at their fingertips regardless of what phone or network they are using.

Read more about Paga

The above listed online payment solutions are definitely not all that is available for your business. We selected these 7 based on their popularity and usage among small businesses in Nigeria. We hope that you'll try them out for your eCommerce store. Whichever you decide to use, it is important that you do you due diligence before finally selecting one. This is because it won't look nice on your business if you keep changing payment solutions.

Also, you may have noticed, I didn't mention foreign currency online payment solutions. This is because most (if not all) will require that your customers pay in foreign currency. If your desire is for receiving payments in foreign currency, you can ask me which ones to use. However, some of the ones listed above accept foreign currency payments too. They allow credit card payments which your customers in countries outside Nigeria can use to pay for your products/services.

Is there any other online payment solutions in Nigeria that I didn't mention? Kindly let me know in the comment section further below.



Join other readers. No spam, ever. Just valuable stuff

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.


Join other readers. No spam, ever. Just valuable stuff