Top 10 Best Payment Gateways in Nigeria
Get complete information on the best payment gateway service providers in Nigeria.
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| Payment Gateway | PayStack | Flutterwave | VoguePay | CashEnvoy | DUSUpay | Remita | Interswitch Webpay | 2Checkout | Amplify | Paypal |
| Setup Fee | Free | Free | N1500 (with Corporate Affairs Commission Certificate) and N2500 (with Government issued Identity cards) | Free | Free | Free | NGN 150,000 | Free | Free | Free |
| Annual fee | Free | Free | Free | Free | Free | Free | Free | Free | Free | Free |
| Commission per transaction | Local Cards: 1.5% + NGN 100
International Cards: 3.9% + NGN 100 NGN 100 fee is waived for transactions less than NGN 2500 Other fees: NGN 10 – 50 depending upon the amount BVN Resolve API: NGN 10 per API call |
Local – 1.4%
International – 3.8% |
Naira cards = 1.5%. (Transactions above NGN 2,500 = 1.5% + NGN 30)Withdrawal: 0.99% + NGN 99VoguePay wallet & Walletfund transfer: 1% International currencies: Transaction fee: 3.8% + |
Withdraw funds: NGN 120.00 (fee for withdrawals of NGN 4,000.00 or less) Receive payments: Local: 1.5% + NGN 25.00 | International: 3.9% + NGN 12.60 |
Card – 4.9%
Bank – 3.5% |
Local – 2%
Foreign – 4% Minimum – NGN 100 Maximum – NGN 2500 |
For transactions below N133,333, a fee of 1.5% applies), and N2,000 flat fee (for transactions above N133,333 | 3.9 % + $0.45 USD
1.5% cross-border fee |
1.4% + NGN 20 when a customer makes a transaction in Naira.
The maximum amount charge won’t be more than NGN 2000 For International Transactions: 3.8% + NGN 20 |
3% |
| Payment methods accepted | Card, Bank account, Bank transfer, USSD, Visa QR, Mobile money, POS (coming soon) | Local – Mastercard, VISA, Bank Account, USSD, Bank Transfer, POS, Visa QR
International – Mastercard, VISA, AMEX |
Visa, MasterCard, Bank Transfer, VoguePay Wallet | MasterCard, GTBank, Interswitch, eTranzact, Visa, Verve, Suregifts, Flatterwave, Cashenvoy Wallet, Mobile money | Rupay, Visa, MasterCard, Amex, JCB, Maestro, PayD and many more | Internet Banking, Debit/Credit Cards, Bank Branch, POS Terminals, Mobile Wallet, Cash Agents, mPOS, Direct Debit, Standing Order and Electronic Purse. | Nigerian cards, Verve, MasterCard and Visa | American Express, Visa, MasterCard, JCB, Neteller, PO, Skrill, Paypal, Bank Transfer, Interswitch Verve | VISA, Mastercard, Verve, and American Express | Credit/Debit Card Visa, MasterCard, Discover American Express, Bank Transfer |
| Fraud & Risk management | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes | Yes |
| Accepted Currencies | GHS, NGN, USD | BIF, CAD, CDF, CVE, EUR, GBP, GHS, GMD, GNF, KES, LRD, MWK, MZN, NGN, RWF, SLL, RWF, SLL, STD, TZS, UGX, USD, XAF, XOF, ZMK, ZMW, ZWD | Naira (N), USD ($), Euro (€), GBP UK Pound (£), Ghanaian Cedi (GHS) and South African Rand (ZAR) | Multi-currency support | These countries local currencies – Ghana, Nigeria, Cameroon, Uganda, Kenya, Tanzania, Rwanda, Burundi, South Africa | Naira, USD | Naira only | All major Currencies |
More than 40 currencies | All major currencies |
| Set up type | Online | Online | Online | Online | Online | Online | Online | Online | Online | Online |
| Onboarding & Approvals time | 30 minutes | Immediate | 1-5 days | NA | NA | NA | 1 – 2 weeks | 24-48 hours | 1 day | 1-2 days |
| Recurring Billing | Yes | Yes | No | No | No | Yes | No | Yes | Yes | Yes |
| Charges on Refunds | No extra charge | No extra charge | No extra charge | No extra charge | No extra charge | No extra charge | No extra charge | No extra charge | No extra charge | No extra charge |
| SDK Stacks | PHP, Android, Nodejs, iOS, Java, Python, R, ReactJS, React Native, Ruby, VueJS, Xamarin, Yii, NativeScript, Groovy, Erlang, Flutter, Angular, Cordova, | PHP, Node, Python, Android, iOS | PHP, .net, Java | PHP | JSON | .Net, Java, Android, PHP, Python | JavaScript, iOS, Android | Java, Ruby, .net, C#, Python | JSON | Java, .net, PHP, Python, Node, Ruby |
| Settlement time | Within 24 hours | Within 1 day | For local transactions, this is T + 1 days while it is for T + 5 for international transactions) | Instant | Within 1 day | 1 day | NA | Weekly – Transfer to Bank Account | 1 day | Payment into PayPal Account Instantly. |
| Payouts support | No | No | No | Yes | No | No | No | Yes | Yes | Yes |
| Split payments | Yes | Yes | Yes | No | No | No | No | Yes | Yes | Yes |
1. Setup Fee
| Payment Gateway | Setup Fee |
| PayStack | Free |
| Flutterwave | Free |
| VoguePay | N1500 (with Corporate Affairs Commission Certificate) and N2500 (with Government issued Identity cards) |
| CashEnvoy | Free |
| DUSUpay | Free |
| Remita | Free |
| Interswitch Webpay | NGN 150,000 |
| 2Checkout | Free |
| Amplify | Free |
| Paypal | Free |
2. Annual fee
| Payment Gateway | Annual fee |
| PayStack | Free |
| Flutterwave | Free |
| VoguePay | Free |
| CashEnvoy | Free |
| DUSUpay | Free |
| Remita | Free |
| Interswitch Webpay | Free |
| 2Checkout | Free |
| Amplify | Free |
| Paypal | Free |
3. Commission per transaction
| Payment Gateway | Commission per transaction |
| PayStack | Local Cards: 1.5% + NGN 100
International Cards: 3.9% + NGN 100 NGN 100 fee is waived for transactions less than NGN 2500 Other fee: NGN 10 – 50 depending upon amount BVN Resolve API: NGN 10 per API call |
| Flutterwave |
Local – 1.4% International – 3.8% |
| VoguePay |
Naira cards = 1.5%. Withdrawal: 0.99% + NGN 99 VoguePay wallet & Walletfund transfer: 1% International currencies: Transaction fee: 3.8% + |
| CashEnvoy |
Withdraw funds: NGN 120.00 Receive payments: Local: 1.5% + NGN 25.00 | International: 3.9% + NGN 12.60 |
| DUSUpay | Card – 4.9%
Bank – 3.5% |
| Remita |
Local – 2% Foreign – 4% Minimum – NGN 100 Maximum – NGN 2500 |
| Interswitch Webpay | For transactions below N133,333, a fee of 1.5% applies), and N2,000 flat fee (for transactions above N133,333 |
| 2Checkout | 3.9 % + $0.45 USD
1.5% cross-border fee |
| Amplify | 1.4% + NGN 20 when a customer makes a transaction in Naira.
The maximum amount charge won’t be more than NGN 2000 For International Transactions: 3.8% + NGN 20 |
| Paypal | 3% |
4. Payment methods accepted
| Payment Gateway | Payment methods accepted |
| PayStack | Card, Bank account, Bank transfer, USSD, Visa QR, Mobile money, POS (coming soon) |
| Flutterwave | Local – Mastercard, VISA, Bank Account, USSD, Bank Transfer, POS, Visa QR
International – Mastercard, VISA, AMEX |
| VoguePay |
Visa, MasterCard, Bank Transfer, VoguePay Wallet
|
| CashEnvoy | MasterCard, GTBank, interswitch, eTranzact, Visa, Verve, Suregifts, Flatterwave, Cashenvoy Wallet, Mobile money |
| DUSUpay | Rupay, Visa, MasterCard, Amex, JCB, Maestro, PayD and many more |
| Remita | Internet Banking, Debit/Credit Cards, Bank Branch, POS Terminals, Mobile Wallet, Cash Agents, mPOS, Direct Debit, Standing Order and Electronic Purse. |
| Interswitch Webpay | Nigerian cards, Verve, MasterCard and Visa |
| 2Checkout | American Express, Visa, MasterCard, JCB, Neteller, PO, Skrill, Paypal, Bank Transfer, Interswirch Verva |
| Amplify | VISA, Mastercard, Verve, and American Express |
| Paypal | Credit/Debit Card Visa, MasterCard, Discover American ExpressIndonasian Bank Transfer |
5. Fraud & Risk management
| Payment Gateway | Fraud & Risk management |
| PayStack | Yes |
| Flutterwave | Yes |
| VoguePay | Yes |
| CashEnvoy | Yes |
| DUSUpay | Yes |
| Remita | Yes |
| Interswitch Webpay | Yes |
| 2Checkout | Yes |
| Amplify | Yes |
| Paypal | Yes |
6. Accepted currencies
| Payment Gateway | Accepted Currencies |
| PayStack | GHS, NGN, USD |
| Flutterwave | BIF, CAD, CDF, CVE, EUR, GBP, GHS, GMD, GNF, KES, LRD, MWK, MZN, NGN, RWF, SLL, RWF, SLL, STD, TZS, UGX, USD, XAF, XOF, ZMK, ZMW, ZWD |
| VoguePay | Naira (N), USD ($), Euro (€), GBP UK Pound (£), Ghanaian Cedi (GHS) and South African Rand (ZAR) |
| CashEnvoy |
Multi currency support
|
| DUSUpay | These countries local currenceis – Ghana, Nigeria, Cameroon, Uganda, Kenya, Tanzania, Rwanda, Burundi, South Africa |
| Remita | Naira, USD |
| Interswitch Webpay | Naira only |
| 2Checkout | All major Currencies |
| Amplify |
More than 40 currencies
|
| Paypal | All major currencies |
7. Set up type
| Payment Gateway | Set up type |
| PayStack | Online |
| Flutterwave | Online |
| VoguePay | Online |
| CashEnvoy | Online |
| DUSUpay | Online |
| Remita | Online |
| Interswitch Webpay | Online |
| 2Checkout | Online |
| Amplify | Online |
| Paypal | Online |
8. Onboarding & Approvals time
| Payment Gateway | Onboarding & Approvals time |
| PayStack | 30 minutes |
| Flutterwave | Immediate |
| VoguePay | 1-5 days |
| CashEnvoy | NA |
| DUSUpay | NA |
| Remita | NA |
| Interswitch Webpay | 1 – 2 weeks |
| 2Checkout | 24-48 hours |
| Amplify | 1 day |
| Paypal | 1-2 days |
9. Recurring Billing
| Payment Gateway | Recurring Billing |
| PayStack | Yes |
| Flutterwave | Yes |
| VoguePay | No |
| CashEnvoy | No |
| DUSUpay | No |
| Remita | Yes |
| Interswitch Webpay | No |
| 2Checkout | Yes |
| Amplify | Yes |
| Paypal | Yes |
10. Charges on Refunds
| Payment Gateway | Charges on Refunds |
| PayStack | No extra charge |
| Flutterwave | No extra charge |
| VoguePay | No extra charge |
| CashEnvoy | No extra charge |
| DUSUpay | No extra charge |
| Remita | No extra charge |
| Interswitch Webpay | No extra charge |
| 2Checkout | No extra charge |
| Amplify | No extra charge |
| Paypal | No extra charge |
11. SDK Stacks
| Payment Gateway | SDK Stacks |
| PayStack | PHP, Android, Nodejs, iOS, Java, Python, R, ReactJS, React Native, Ruby, VueJS, Xamarin, Yii, NativeScript, Groovy, Erlang, Flutter, Angular, Cordova, |
| Flutterwave |
PHP, Node, Python, Android, iOS
|
| VoguePay | PHP, .net, Java |
| CashEnvoy | PHP |
| DUSUpay | JSON |
| Remita | .Net, Java, Android, PHP, Python |
| Interswitch Webpay |
JavaScript, iOS, Android
|
| 2Checkout | Java, Ruby, .net, C#, Python |
| Amplify | JSON |
| Paypal | Java, .net, PHP, Python, Node, Ruby |
12. Settlement time
| Payment Gateway | Settlement time |
| PayStack | Within 24 hours |
| Flutterwave | Within 1 day |
| VoguePay | For local transactions, this is T + 1 days while it is for T + 5 for international transactions) |
| CashEnvoy | Instant |
| DUSUpay | Within 1 day |
| Remita | 1 day |
| Interswitch Webpay | NA |
| 2Checkout | Weekly – Transfer to Bank Account |
| Amplify | 1 day |
| Paypal | Payment into PayPal Account Instantly. |
13. Payouts support
| Payment Gateway | Payouts support |
| PayStack | No |
| Flutterwave | No |
| VoguePay | No |
| CashEnvoy | Yes |
| DUSUpay | No |
| Remita | No |
| Interswitch Webpay | No |
| 2Checkout | Yes |
| Amplify | Yes |
| Paypal | Yes |
14. Split payments
| Payment Gateway | Split payments |
| PayStack | Yes |
| Flutterwave | Yes |
| VoguePay | Yes |
| CashEnvoy | No |
| DUSUpay | No |
| Remita | No |
| Interswitch Webpay | No |
| 2Checkout | Yes |
| Amplify | Yes |
| Paypal | Yes |
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Choosing the best Payment Gateway provider in Nigeria
Choosing the best payment gateway provider for your eCommerce website is a tedious process. While choosing, you should ensure that customer payment experience is smooth, fast and secure. This helps to increase trust among the customers and come back to purchase other products or services in the future.
Here are six factors to consider before selecting the payment gateway:
Government Regulations
Payment gateway providers must adhere to the regulations imposed by the Central Bank of Nigeria which actively provides regulations through circulars to govern the activities of all players in the industry.<br /> Government has developed a variety of new secure payment schemes for gateway providers as consumers are becoming more aware of their security and privacy.
Multi-currency and International usage
If you are looking to target a foreign customer base, pick a provider that allows customers to pay in their local currencies. There are quite a few gateways in Nigeria that support both multi currency and cross currency conversions. 2Checkout, Paypal, Flutterwave, DuduPay, Amplify etc. gives merchants flexible currency options.
Safety & Security Features
The gateway provider needs to be PCI service provider level 1 certified. Audit certification is an added layer of security. Advanced fraud detection mechanisms must be deployed including both automatic and manual fraud systems to protect you from fraudulent transactions and associated chargeback claims. The transactions that happen over HTTPS using TLS 1.2 (SSL) are more secured.
Payment and customer support
Choose a payment gateway that is beyond payments. Simply put, the provider must offer reliable 24*7 customer support and quick turnaround time while delivering business solutions to measure and improve merchant’s growth. Gateway providers such as Paystack, Flutterwave etc. have modern, frictionless, painless payment environments with live user support.
Mobile App and CMS Support
Some payment gateway providers offer mobile SDKs along with other options so that merchants can integrate their payment processing system into iOS and Android apps too. A few gateways also have a dedicated app for merchants with features such as on the go status, live tracking, dashboard management among other useful features.
Required Documentation
The Provider should have digital Merchant Onboarding which includes an Easy & faster onboarding process without cumbersome documents and red tape. A platform that is agile, supports 100% automated onboarding and offers various API integrations, SDKs and e-commerce platform integrations can be beneficial to specific merchants. The tedious, long, and inconvenient documentation process is just traditional.
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