The world is a global market, thus as an entrepreneur in Nigeria; either small or large scale business owner you have to take advantage of the internet in order to succeed among competitors in your area of business.
This majorly involves strategically advertising your product on the internet for people around the globe to patronize. It is always said that production is not complete until it gets to the final consumer.
Getting a product to a final consumer is not a problem because there are diverse logistics on ground both local and international, that can convey your products to the final consumer in the wink of an eye.
Where the problem comes in, is the payment process. As a merchant you require a payment process that is safe, fast, secure and convenient. This leads us to the topic list of international payment processors in Nigeria.
The following are the list of international payment processors in Nigeria;
2Checkout Profile and Fee
2CheckOut provides online payment processing services. This works by allowing sellers to accept online payment for their goods and services. Whenever you see you 2CO, just know it might be referring to 2CheckOut as an acronym.
2CheckOut does not require any setup fee, monthly fee, cancellation fee or hidden charges
Charges And Benefits
2Sell Plan – This is often for those selling abroad. It’s at a rate of 3.5% +$0.35 per sale.
2Subscribe Plan – This plan concerns subscriptions. It’s at a rate of 4.5% +$0.45 per sale.
2Monetize Plan – This plan concerns gadgets. It’s at a rate of 6% +$0.60 per sale.
Enterprise Rate — This plan gives discount at the rate of 1.00% – 4.99%
The following are the benefits of 2CheckOut :
Transaction disputes have a charge attached to them but with 2CheckOut no charges or responsibility for disputed or fraudulent charges.
You will be able to use multiple payment methods like credit cards, debit cards, Visa, MasterCard, Discover, American Express, Diners Club, JCB, and PayPal.
Your e-commerce website will be in a position to process over 100 different currencies in 15 different languages. This will link you up with buyers from over 200 countries.
Whenever someone fraudulently makes a purchase through your website, you will be prevented by the fraud protection rules. This rules are almost 400 and it protects your company from fraud.
There are provisions made for shopping carts, bookings, and e-commerce needs which can be integrated on your website without a prior knowledge of coding. Similar to the likes of Shopify, Bigcommerce, and WooCommerce.
Amplify Profile and Fee
Amplify is a protected medium which aims at providing one-time and recurring payment capabilities to businesses to aid them succeed among competition.
Amplify is one of the smartest options available for businesses in Nigeria to accept and manage recurring payments. Other tools are provided by Amplify to ensure the growth of your business in all ramifications.
Amplify does not require any setup fee, hidden charges, or service charges.
Charges and Benefits
For transactions within Nigeria: 1.5% + ₦20 (capped at ₦2,000)
For transactions outside Nigeria: 3.8% + ₦20.
For any settlement to your registered bank account: fixed fee of ₦100
The following are the benefits of Amplify
All transactions are done through a Payment Card Industry Data Security Standard compliant and three dimensional secure payment gateway through a Secure Sockets Layer encrypted channel to ensure a strong security.
You will be able to use multiple payment methods such as Mastercard, Verve, American Express and almost 50 currencies from VISA. Your customers can also pay for your products directly from their bank accounts.
In process of making transaction, if your customers encounters any delay due to problem customer’s card, Amplify will keep trying for maximum of 2 days until transaction is completed.
A website is not needed to receive payment. You can just generate a form and send the link to your customers and receive your payment.
Amplify ensures that all transactions are completed and payments are received within 24 hours.
If you encounter any complication while using Amplify, contact them immediately and have your problem solved within seconds.
CashEnvoy Profile and Fee
CashEnvoy is a payment processor that permits entrepreneurs and business owners get their money from customers online.
When you integrate CashEnvoy into your website, it can receive payments from all Nigerian debit card, international visa card, Mastercards and CashEnvoy wallet. This payment medium was birthed in November 2009.
Amplify does not require any setup fee, hidden charges, or withdrawal charges.
Charges and Benefits
CashEnvoy charges a fee of ₦120.00 for withdrawals of ₦4,000.00 or less.
To Receive Payment from within Nigeria: 1.5% + N25.00.
To Receive Payment from outside Nigeria: 3.9% + N12.60.
Its free to send payment to a business account
The following are the benefits of CashEnvoy :
CashEnvoy is well protected with so many security measures that keeps you totally covered like data encryption, Secure Sockets Layer certificates, 24/7 monitoring and so on. Also all your details are kept hidden and there is a fraud team that ensures that fraudulent acts are kept at arm’s length.
CashEnvoy saves your time and energy. It saves you the time of always typing your card information as it stores your details automatically. It also prevents you from queuing up in bank because it is way faster than checks.
CashEnvoy ensures that products are cost-effective and affordable.
DusuPay Profile and Fee
DusuPay ensures a well secure, efficient, simple and fast platform to process payments within and outside Africa.
It’s envisioned provide a standard in which Africa financially communicate with the world. Currently, DusuPay is used in over 20 Countries, entrusted by over 2000 businesses, where 29% of these businesses are multi-million dollar corporations.
Amplify does not require any setup fee, hidden charges, or monthly fee.
Charges And Benefits
Payment received from Banks: 3.5%
Payments received with Cards: 4.9%
Payouts to Banks: ₦1,000
With DusuPay you can receive money in your mobile wallet, visa, POS, and your bank.
DusuPay advices you on the method of payment suitable for your business to ensure it’s growth.
Integrating DusuPay to your website is as simple as ABC, all you have to do is copy and paste and you’re good to receive orders for a pay.
You will be able to use multiple payment methods which create alternative method of payment for diverse African countries.
Customer support is very fast, efficient and effective.
FirstPay Link Profile and Fee
FirstPay Link is a an online payment platform by First Bank that allows payment on entrepreneur’s websites. Here the platform is integrated into the entrepreneur website.
Although, the entrepreneur must be a FirstBank Account Holder.
FirstPay Link requires a setup fee of N50,000 per Switch (Card scheme), to be paid by the entrepreneur.
FirstPay Link transaction charges a rate of 1.5% (capped at N2,000).
The payment catelog is always available for payers convenience.
Exposes the entrepreneur and he’s products to be patronized by a larger market.
Enables the use of Internet for buying and selling of goods and services.
Little or no skill needed to integrate the platform to entrepreneur’s website.
It is a secure method of payment known all over the world.
Provides a receipt of all successful payment for monitoring, accounting and reconciliation purposes in case of irregularities.
Flutterwave Profile and Fee
Flutterwave was founded in 2016. It was created to provide businesses all around the world a fast, secure and reliable payments processor. Flutterwave is a payment processor with a technology that aids businesses secure payment from their customers.
Flutterwave does not require any setup fee.
Charges and Benefits
Charges ₦45 for every successful disburse made.
Charges a rate of 1.4% + N10 for Cards within Nigeria (capped at ₦2,000)
Charges a rate of 3.5% for Cards outside Nigeria.
- There is total access to their live platform.
- It saves transaction and account data for easy access in cases of urgent need.
- Customer support is very fast, efficient and dedicated.
- There is an availability of refund management in situations where they are necessary.
GlobalPay Profile and Fee
GlobalPAY is an internet application programmed to enable individuals, businesses, Nigerians and non-Nigerians to make or receive money through the internet from their homes or offices with the use of a Visa/ MasterCard cards, mobile wallet and ZenithBank internet banking.
GlobalPay requires a setup fee of N75,000 (Seventy Five Thousand Naira). Also, the International Gateway Charge is ₦5,000 every month.
Charges And Benefits
MasterCard/ Visa/ Interswitch Verve (local) charges at the rate of 1.5% of transaction amount (capped N2,000)
MasterCard/Visa (International) charges at the rate of 3.5% of transaction amount.
International Settlement Charge is about $50 per settlement.
Exposes your business to a wider global market.
You will be able to use multiple payment methods a single integration.
Advanced security through three dimensional security implementation.
Stores receipts of every transactions for reporting and management.
Gtpay Profile And Setup Fee
GTPay is a safe online payment gateway developed by Guaranty Trust Bank Plc (GTBank) which can be integrated to a business website to enable online payments to be made using Cards.
GTPay requires a setup fee of N75,000 (Seventy Five Thousand Naira). Also, the International Gateway Charge is ₦5,000 every month.
Charges And Benefits
MasterCard/ Visa/ Interswitch Verve (local) charges at the rate of 1.5% of transaction amount
MasterCard/Visa (International) charges at the rate of 3% of transaction amount
- The interface is simple and easy to navigate
- It provides a comfortable method of payments.
- Both local and international cards are generally accepted.
- Exposes your business to a wider global range.
- There is an Increase in sales due to the wider reach.
- It promotes cashless policy.
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