Top 10 Third Party Online Payment Processors in Nigeria

Third party processor  is a company often a third party that lets you accept online payments from your  business by using various channels such as credit cards and debit cards for merchant acquiring banks. They helps you handle your payments for processing based on their own policies.

Some of them are free to sign up for while others might charge little capital. In this post, we will explore some of these payment gateway that is prominent in Nigeria.

  1. Voguepay

Vogue pay is a Nigeria payment processor that allows blog and website owners to receive payments of their goods and services purchased by their clients without much stress and no setup fees. Their payments solution allows you to make and accept payments online from other Voguepay member or etranzact and visa card holders. MasterCard holders will be sign up when they want to pay you. Vogue pay now offers lower transaction fees for both local and international transactions. The official statement indicates that all transactions above 2500Naira will attract 1.5%+30 against the previous 2.5%. A similar reduction has been made for international transactions as well. This is good news for new businesses that wish to integrate Vogue as their payment processor.

Features

  • flexible account operation
  • easy withdrawals of payments
  • accept payment without a website
  • accept international and local payments
  • very simple API
  • free integration on the website
  • free mobile phone applications

How it work?

  • register on their platform
  • sign in to your account and start experiencing their services
  • You can check their site for further information on how to set up your account www.voguepay.com

Terms and Conditions

  • You must have a registered business
  • You must acknowledge that vogue pay is not a bank; it’s a payment processing services and not banking services.
  • You must be registered and verified merchant on vogue pay platform before using their services.
  • Your services or business must fall under regulated industries before you are permitted to use their services. You can check this link to view regulated industries https://voguepay.com/terms

Security

  • reliable

  1. Firstpaylink

This is an e-banking channel of First Bank of Nigeria Plc. They allowed transfer to Interswitch, etranzact, visa etc. their cost implication is a one-off implementation cost of N50,000 per switch(Card scheme) and transaction charge of 1.5%, subject to a maximum of N2,000.

Features

  • easy navigation on the payment gateway
  • flexible merchants reports
  • real-time access to transaction details

How it work?

Terms and Conditions

  • You must be a First bank Account holder
  • The merchant application form must be signed up and properly verified
  • The merchant must have a web portal
  • The web portal must keep track of the customer’s service/goods selection before check out.

Security

  • acceptable secure mode

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  1. CashEnvoy

It is one of the prominent payment processors in Nigeria. They started their operation in November 2009 and also a member of Electronic Payments Providers Association of Nigeria (EPPAN). They charge N120 fee for withdrawals of N4,000 or less and receive payments on local 1.5% +N25 and international 3.9%+12.60.

Features

  • low cost, no setup fee, withdrawal and other hidden charges
  • multiple payment channels like debit card, e-banking, mobile money, e-wallet
  • simple and safe

How it Work?

Terms and Conditions

  • it’s only a payment service provider
  • You must not be less than 18years old and understands the nature of transactions you want to carry out.

Security

  • safe and secure
  1. Interswitch

This platform is one of the pioneer payment platforms for e-payments in Nigeria. It is a great payment processor. They have a reliable and scalable platform for e-transaction processing in a multi-dimensional environment. They operate payments collections and monitoring solutions via Paydirect, Webpay and Quickteller. You will be required to pay a one-time fee of starting at N200,000 and a subsequent fee of 1.5% to a cap of N2000 on each transaction.

Features

  • Direct and monitoring seamlessly
  • Easy integration with uninterrupted service
  • integrates internet payments using cards, tokens and devices with existing websites.
  • support verve, visa, and MasterCard

How it work?

  • register and be set up on the gateway, then afterward, then you will go through a certification process. You also require a bank to generate a Merchant ID for the process before interswicth will then synchronize.
  • You can visit their website interswitchgroup.com

Terms and Conditions

  • Register your business
  • Obtain a form as a merchant and filled accordingly with relevant documents.

Security

  • safe and secure
  1. Gtpay

It is a third party payment gateway developed by Guaranty Trust Bank. It is developed to facilitate payments online using debit cards issued by banks on the Interswitch network. It enables cardholders to pay merchants for internet transaction from the comfort of their offices or homes.

Features

  • It provides international acceptance and accepts interswitch, Mastercard, and visa
  • Timely transaction processing
  • Reduced sign-on fee

How It Work?

  • complete the GTpay Application form obtained through their bank
  • Send the document along with certificate of Incorporation
  • you can reach them through www.gtbank.com

Terms and Conditions

  • Register your business

Security

  • secured
  1. Simplepay

This company started accepting card payments since 2013. They allowed businesses to conveniently receive payments online through their email or mobile phone.  They charge 4%+N10 for international cards and 1.90%+N10 for local cards.

How it work?

  • Visit merchants.simplepay.ng/register to register
  • Integrate the plugins and go for demo
  • Add your bank details for remittance.

Features

  • Accept international payments
  • Suitable for e-commerce businesses
  • Fast and simple

Terms and Conditions

  • Be above 18years old
  • Register your business

Security

  • Simplepay is PCI-Compliant Level 1
  1. UBA UCollect
Photo credit: bankpaygateway.com

It is a new development by United Bank for  Africa.  It’s a consolidated internet payment gateway solution which integrates multiple payment solutions available in Nigeria. The UCollect platform support local and international cards such as Visa, Mastercard without any setup fee. They charge 1.5% with a maximum cap of N2000 per transaction

Features

  • easy to use
  • 24/7 support
  • multiple payment options
  • no cost of deployment to the customer

How It work?

  • Check out their official website www.ubagroup.com/countries/ng/ucollect
  • Move to the nearest UBA bank to set up your account

Terms and conditions

  • You must have a Corporate UBA account
  • Register your business

 Security

  • secured, there is no need to install SSL again
  1. Etransact

This is a multi-application, multi-network and multi-channel electronic payment platform. It’s service cut across virtually all aspects of the e-payments space such as ATM, Internet, POS and Mobile. Their payment processing help to reduce the administrative overhead of cheque printing and returned cheques.

Features

  • multi-application that supports AMEX, Visa, and MasterCard

How it work?

Security

  • Secured

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  1. Paystack

Paystack is one of the new players making a bold move to revamp the Nigerian payment system. They charge a flat rate of N100 per transaction between 1.9% and 3.9% for local and international cards respectively. The N100 fee is however waived for transactions less than N2500. Paystack helps Nigerian businesses accept payments from anyone, anywhere in the world.

Features

  • easy integration
  • Zero setup fees

How it Work?

  • sign up on www.paystack.com

Terms and Conditions

  • Register your business

Security

  • secured
  1. Remita

Remita was developed by  SystemSpecs limited. The platform enables merchants to transact with their customers on a single multi-bank platform. Remita has been adopted by the Central Bank of Nigeria for the facilitation of Federal government’s Treasury Single Account (TSA). They charge 2%(Minimum of N100 and a Maximum of N2,500 for local cards but when foreign cards are used, an additional 2% charge is applicable.

Features

  • comprehensive transactions reports online
  • support multiple banks in Nigeria
  • accept verve, visa, Mastercard, UnionPAy
  • free integration and registration

How it Work?

  • sign up on www.remita.net
  • download plugin
  • use the integration specification to adapt Remita to your specific needs.

Terms and conditions

  • Apply for a Personal or Cooperate profile at your bank.

Security

  • secured

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