It is not a game-saying that different online payment conveniences have come to stay in Nigeria.Just few days ago, a client from UK called me on phone requesting to know the best online payment platform in Nigeria that he could integrate on his e-commerce website.
Here are the best payment gateway options I gave him.
I have careful reviewed these payment gateway again and again. After my assessment, I came out with the 10 best. My assessments and reviews are based on;
Easy integration work flow and documentation, Fast responding and Technical support, Usage, Setup convenience and setbacks, Setup charges and fees, Vulnerability. My name is Angela and I am a programmer, and has set up about 50 websites.
Without wasting time, here is list of 10 best Online Payment Gateway Platform in Nigeria and their Setup charges. Again, try to consider these factors;
a. easy integration work flow and documentation,
b. fast responding and technical support,
c. usage, setup convenience and setbacks,
d. setup charges and vulnerability before you choose online payment gateway to be integrated on your site.
1. GTBANK GTPAY
On the first Position on this list is Gtbank Gtpay
GTPay is online payment processor platform offered by Guaranty Trust BankPlc which customers can integrate on their e-commerce website to allow them accept payments online. This platform support Nigerian Cards such Visa, MasterCard and Interswitch. GTBank has significantly upgraded their interface and coding.
• Easy integration work flow and documentation
The platforms now have a better integration work flow, and codes are simplified for developers. GTBank is a certified developer partner; hence GTPAY Integration for merchants’ fee is waived. Their customers get a waiver for integration – reduced sign-on fee. GTPay integration documents and coding has been upgraded to make it easier for integrators to understand.
• Fast responding and Technical support
GTBank has a dedicated responsive and technical support team to attend to your issues timely. Emails are responded timely after sent.
• Usage
GTPay payment gateway is one of the most widely used online payment processor on many Nigerian websites. It supports Visa, MasterCard and Interswitch. GTPay payment gateway also supports international cards (Visa and MasterCard).
• Setup convenience and setbacks
The time frame for integration to go live is quite long. Customer has to apply through GTBank to Interswitch, before test ID will be created. After which, TEST integration document and link will be sent to customer with long checklist of requirements. Customer will integrate, and send the checklist to GTBank for verification, then send to Interswitch to set their test date. Interswitch will fix a date for the test, conduct the test before approval and onward live integration details sent to GTBank, GTBank will then setup the customer on their site. This is a very long process; it takes time and can be complex if you don’t understand what you are doing very well. GTBank GTPay integration process and DIY integration document is quite lengthy.
GTPay platform for selecting card type can be difficult for a customer that doesn’t read everything on the page when they want to checkout and make payment. This can lead to higher shopping cart abandonment rate. Customers paying online may not know they have to click their preferred card and then enter email below the page, before proceeding to payment page to enter their card details. This stage can be bypassed for customers that want to accept only local cards. Unfortunately, the stage cannot be avoided by customers that want to accept International cards. The bank should have made it like a simple radio button or something easier for the customer to know they must click, and no need to enter email address again (since it can be bypassed for local cards).
Customer has to open a corporate account with Guaranty Trust Bank Plc to be able to use this service
GTPay International card acceptance comes with a condition, international transactions come with a transaction charge of 3% per transaction (no cap) and a N5, 000.00 monthly subscription fee. This is no doubt a huge for SME and discouraging for a customer that doesn’t regularly do huge turnover transactions. This is the reason why many of their customers don’t subscribe to the international card acceptance of GTPay.
• Gtpay Setup Fees
GTBank GTPay platform support wordpress themes and e-commerce website. The initial setup cost is N75, 000 and integration cost varies depending on the developer.
SWITCH: MasterCard/Visa (local)—–MasterCard/Visa (Int’l)
SETUP FEES: N75,000.00 ——– ——-N75,000.00
TRANSACTION FEE: 1.5% of transaction amount (subject to maximum of N2,000) — 3% of transaction
BEARER: MERCHANT—————MERCHANT
• Vulnerability
The system is safe.
How to get started with GTBank GTPay: To get started with GTBank GTPAY, visit official GTBank GTPay web page
• Complete the GTPay Application form.
• Send filled form along with Certificate of Incorporation to your Account officer.
• For further enquiries, kindly send an email to epay@gtbank.com
2. UBA UCOLLECT Payment Gateway
On the second position is UBA UCOLLECT Payment Gateway
UCOLLECT is an online payment processor platform offer by United Bank of Africa. United Bank for Africa Plc has upgraded and partially moved their entire payment gateway – UBA UCollect to a whole new system. The UCollect platform still supports local and international cards, without any setup fee. At the moment, the payment platform support Visa and MasterCard only.
Easy integration workflow and documentation
The integration workflow is superb and easy for good developers. There are three ways to connect your HTTP post (in a different way), XML and JSON. The documentation is quite detailed and explanatory, except there are few some things they would have added.
• Fast responding and Technical support
Zero! They never respond fast as you may want them. This is just an experience with one of their support guys. Though, you may need little or no support from their technical support team.
• Usage
You can use all bank cards on this payment platform.
Customer can get their local and international transactions credited to their Naira and US Domiciliary account respectively.
• Setup convenience and setbacks
The Bank has finally published product detail of UBA UCollect on their official website.
There are few incomplete files and link missing, which can make it complex for a new web developer to integrate to the site. In addition, the gateway lacks a test site, which means even when integrating, you need to be using a live card for every test process. You need to understand the programming to get the integration.
Hmmmmm! It is just manual; you need to approach a customer technical support person in the bank for setup. Their system is not all that complex so I wonder why they wouldn’t allow their setup process to start and finish online.
The customer don’t have access to the backend where they will set RETURN URLS – Success, Failure and Pending URL, you need to fill the URL on the form – for the bank to update and you need to do this consistently anytime you want to do any update on the site.
Customer has to open a corporate account with United Bank for Africa Plc to be able to use this service, like all other Banks that acts as a payment processor in Nigeria.
Information about UCollect is not sufficient among staff at the branch level; you have to call or email the head office for enquiries and support.
The Bank still maintains old and new UCollect payment gateway, which can raise suspicion for potential customer occasionally when they see two different interfaces and links to on different merchants’ site.
Customer needs to spend extra Naira installing an SSL security on their website. Since the UCollect platform is already secured there is no need for an SME to install SSL again.
UBA UCollect charges are quiet higher: 1.5% for local transactions – with no cap and 4% for international – no cap.
Interswitch Verve is not yet integrated to the New UBA UCollect, hence Verve cards can’t be used on the New Platform yet.
- Setup charges and fees
No setup FEE
SWITCH :MasterCard/Visa (local)
SETUP FEES: FREE
TRANSACTION FEE: 1.5% of transaction amount – No CAP
BEARER: MERCHANT
SWITCH: MasterCard/Visa (Int’l)
SETUP FEES: FREE
TRANSACTION FEE: 4% of transaction amount – No Cap
BEARER: MERCHANT
Interswitch Verve 1.5% of transaction amount (subject to a maximum of N2,000).
- Vulnerability
How to get started with UCOLLECT: To get started with ucollect, visit ucollect web page: UBA UCollect Official Web Page
3. Zenith bank Globalpay
Third on the list is Zenith Globalpay
Zenith Globalpay is payment gateway owner by Zenith bank plc. Zenith Globalpay payment gateway supports both local and international transactions.
- Easy integration work flow and documentation
• Direct Integration with Website: The payment gateway is integrated into your website enabling you 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 www.globalpay.com.ng.
- Fast responding and Technical support
- Usage
- Setup convenience and setbacks
Highest levels of data protection via PCI Compliance
Setbacks: As a matter of fact, deployment of this gateway started with N250, 000 (Two hundred and fifty thousand naira), they made a promo and deploy it for 75,000 (Seventy five thousand naira). Currently, the platform has been reviewed upward back to N150, 000 (for Visa, Mastercard and Interswitch card support).
- Setup charges and fees
SWITCH -SETUP FEES -TRANSACTION FEE-BEARER
MasterCard/Visa (local)- N75,000.00 -1.5% of transaction amount (subject to a maximum of N2,000)- MERCHANT
MasterCard/Visa (Int’l) -N75,000.00-3.5% of transaction amount; no cap- MERCHANT
Interswitch Verve -N75,000.00-1.5% of transaction amount (subject to a maximum of N2,000) -MERCHANT
Monthly Access Fee – N5, 000.00
Foreign Settlement Charge – $50 (per settlement).
- Vulnerability
How to get started with Zenith Globalpay: To get started with zenith Globalpay, visit: Zenith Globalpay Official Web Page: http://www.zenithbank.com/eBizSolutionsCorporateGlobalPay.
4. Interswitch Webpay /Quickteller
The fourth on list is Interswitch Webpay /Quickteller
When you talk about online payment in Nigeria, Interswitch is the king. They are the forerunner of online payment platform in Nigeria. Those Guys there are actually doing great. They process both online and offline payment for virtually all commercial banks in Nigeria.
- Easy integration work flow and documentation
- Fast responding and Technical support
- Usage
- Setup convenience and setbacks
- Setup charges and fees
- Vulnerability
How to get started with interswitch webpay/Quickteller: To get started with interswitch, visit the interswitch website: www.interswitchng.com
5. Cash Envoy
On the fifth position is Cash Envoy
Cash Envoy is owned by Electronic Settlement Limited and has been endorsed by the Central Bank of Nigeria. They began operation November, 2009 as the First web payment aggregator in Nigeria. The company has grown some interesting customer base.
Cashenvoy vision statement is to create the magical payment process that customers will always want to pay with and merchants always want to receive payments with. CashEnvoy is the only Nigerian Payment Aggregator/Processor this is accepted on Shopify.
- Easy integration work flow and documentation
- Fast responding and Technical support
- Setup Convenience and setbacks
- Usage
Merchants can accept local and international card such as – VISA, MASTERCARD, eTranzact and Interswitch cards.
- Setup charges and fees
Withdrawal fee- 0
Activation fee- 0
Transaction fee 2.5%+ N12.60 to a maximum of 3500
No hidden charges
- Vulnerability
How to get started with Cash Envoy: To get started with cash envoy, visit cash envoy official website www.cashenvoy.com
6. Voguepay
On the sixth position is Voguepay
Voguepay is a Nigerian payment gateway that allows customers to accept payment on their website. The system support automatic withdrawal to the merchant bank account, unlike most payment processors that merchant has to manually request for withdrawal.
- Easy integration work flow and documentation
- Fast responding and Technical support
- Usage
- Setup convenience and setbacks
- Signing Up Fees and Charges
Business Account
Opening Account Free
Merchant Fee Free
Merchant Verification N1500 (with Corporate Affairs Commission Certificate) and N2500 (with Government issued Identity cards)
Transaction Fee Transaction Fee Naira Cards – 2.5%USD MasterCard & VISA Card – 4.5%(No Gateway Fees Applicable)
Withdraw Money 1% + 120 Naira
Integration Free (Fee may apply for customised Integration)
- Vulnerability
Security and Reliability
How to get started with voguepay:To get started with voguepay, visit voguepay official website: www.voguepay.com
- How to integrate voguepay payment gateway on wordpress blog/website
On the seventh position in this list is Simplepay
Simplepay is a Nigerian payment process platform; the company is located in Abuja Nigeria. The gateway utilizes international acceptability of Zenith Globalpay to allow their customers accept payments online using their local and international Visa Card, MasterCard and Interswitch cards.
- Easy integration work flow and documentation
- Fast responding and Technical support
- Usage
- Setup convenience and setbacks
- Setup charges and fees
Integration: FREE
DEPOSIT:
Verve Card/ Naira MasterCard – 1.50% plus N10.00 per transaction;
Etranzact Card/Web – 1.50% plus N0.00 per transaction;
Visa (Vpay) integration – 1.50% plus N0.00 per transaction;
International Payments via Credit Card Visa and MasterCard (Zenith Bank Transfer) – 5.00% plus N10.00 per transaction;
Withdrawal: Wire Transfer – N300.00 per transaction;
Receive Money: 1.00% plus N10.00 per transaction
SMS: N2
- Vulnerability
How to get started with Simplepay: To get started with simplepay, visit their official Website: www.simplepay4u.com
8. 2Checkout
On number eight on the list is 2Checkout
2checkout is a USA based company established in 1999. The company has over 50,000 trusted merchants.
The payment platform supports transactions in 196 countries through 8 payment methods, 26 currencies, and 15 languages, forming one of the leading processors of online transactions in the world.
- Easy integration work flow and documentation
- Fast responding and Technical support
- Usage
- Setup convenience and setbacks
- Setup charges and fees
Transaction Charges for Nigerians.
5.5% + 45¢ successful transaction
- Vulnerability
9. PayAttitude
On number ninth on the list is PayAttitude
This is not a platform for just any newbie developer. You must be an expert to get your integration through. I am sure all is in the name of security. You can hardly see this gateway on most Ecommerce websites in Nigeria.
- Integration Work Flow and documentation
“After successfully doing the operation above, two files will be generated, a .PEM and .CSR file. The generated .CSR will be mailed to softwareunit@unifiedpaymentsnigeria.com for signing, and then we send you the 2 files, merchantname.key and cacert.pem files that will be referenced in stunnel”
Their file document folder contains 11 files. This makes their documentation so cumbersome. However, the integration is pretty straight forward if you are not so new to integration.
- Fast responding and Technical support
- Setup Convenience and setbacks
- Vulnerability
10. FirstBank FirstPayLink
On position ten on this list is FirstBank FirstPayLink
FirstPayLink is an online payment processor platform owned by First Bank of Nigeria Plc. It is integrated to merchant websites to allow Internet payments using InterSwitch, eTranzact, Visa and MasterCard cards. To be able to use this service, the customer must have an Account with First Bank.
- Easy integration work flow and documentation
- Fast responding and Technical support
- Usage
- Setup convenience and setbacks
- Setup charges and fees
MasterCard-N50,000.00-1.5% of transaction amount, subject to a maximum of N2,000 (Local) and3% (International)-MERCHANT
Visa -1.5% of transaction amount, subject to a maximum of N2,000 (Local) and3% (International)-MERCHANT
Interswitch Verve -N50,000.00 1.5% of transaction amount, subject to a maximum of N2,000 (Local)-MERCHANT
eTranzact-N50,000.00 1.5% of transaction amount, subject to a maximum of N2,000 (Local)-MERCHANT
The total set-up cost (one-off) is N200, 000 (N50, 000/Switch). There are four Switches available: InterSwitch, Visa, MasterCard and eTranzact. The charges is 1.5% cap N2000 (Local) and 3% (International).
- Vulnerability
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To develop or re-develop a website to accept online payment, contact us to setup your business, Company ecommerce website for you and start accepting payment online real time on website, email us @ meritinfos@yahoo.com or call (+234) 081-472-988-15 for more information. You can host your sites with us on MERIT-INFOS
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ABOUT ONLINE PAYMENT PLATFORMS IN NIGERIA
Frequently Ask Questions on ONLINE PAYMENT PLATFORM IN NIGERIA
Q1. I need a payment solution that people can use. Payment options like using your airtime to pay for services. I run a charity organization and I want a platform where people can donate instantly through their phones, through SMS, or through a simple web payment solution. Which would you suggest as an easy and cost effective platform?
Answer: Simplepay will be a good option for you. To accepts payment with stiff budget; you can consider Simplepay, Voguepay and Cashenvoy.
Q2. Which payment gateway can I integrate into my wordpress blog?
Answer: Consider Voguepay, simplepay, cash envoy as your best option,
Q3. I observed that the GTPay is a good gateway. But, I observed that this gateway has payment issues, where customers are not able to make payments successfully. Also, it selects cards. Why and what would you suggest and how can you help me
Answer: Many factors can cause a payment gateway not to accept its card:
a. Some Bank Cards might not be activated for online transactions,
b. Card details might not be entered completely, e.g. GTBank Mastercard and some Banks write the last 4digits number on the Interswitch reflective logo.
c. Some cards require be toVerified by Visa – VISA CARDS, Mastercard Secure Code – MASTERCARD and Safetoken/Hardware/Soft Token – for INTERSWTICH cards, some customers don’t know about this.
Among other issues;
We suggest you put simple FAQ or likely issues customers can have on your website where customers can see it when making payment. You can even make it in form of a picture with arrows pointing to the likely issues – to inform them.
If you enjoyed this long article, show some loves…don’t just read, asks your questions, share and drop some comments.
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