A payment gateway is a piece of software that’s used by individuals and businesses to accept debit and credit card payments on a website.
Scroll down to see the top 3 payment gateway providers in Nigeria.
Quickteller business
Quickteller had a precursor called WebPay which has been discontinued in favour of the former (Quickteller).
Back in the day, if you didn’t integrate WebPay on your ecommerce website, you’ll be deemed not ready for business.
They were the giants of online payments, owned by the famous unicorn (interswitch – founded in 2002) with a relatively high entry fee and expertise requirement.
Now with Quickteller business, they’ve become beginner friendly and highly acceptable by the general public.
The various payment options they provide after integration include debit/credit card, ussd, visa qr, paycode, mobile transfer, and bank transfer payments.
Using their payment gateway simply requires registration as an individual (2 million Naira transaction limit)or a registered business (unlimited transaction limit).
Flutterwave
Founded in 2016, Flutterwave has risen to become part of Nigeria’s prominent financial technology (fintech) company with over $1 Billion in valuation.
Their payment gateway allows individuals and businesses to accept payments in over 30 currencies.
The various payment options available after integration for select countries includes PayPal, M-Pesa, Apple Pay, PayAttitude, Visa Qr, USSD, Mobile money, Bank transfer, debit/credit card payments.
Using their payment gateway simply requires registration as an individual (2 million Naira transaction limit) or a registered business (unlimited transaction limit).
Paystack
Founded in 2015, Paystack is Nigeria’s foremost fintech company.
They process over 50% of Nigeria’s online payments.
Recently acquired by Stripe for over $200 million, they’ve become part of a larger cause “simplifying payments within Africa and beyond”.
Integrating a payment gateway as an individual or business owner is simply a walk in the park with them.
They accept numerous payment methods and pride themselves in getting you started in 30 minutes.
Using their payment gateway simply requires registration as an individual (2 million Naira transaction limit) or a registered business (unlimited transaction limit with access to certain perks).
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