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Top payment gateways for online businesses in Nigeria

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Most consumers in Nigeria have upgraded to making payments online rather than the traditional way of making payments. As it is safe, fast, secure, and stress-free. Therefore, merchants are expected to be able to meet up these needs.

As a result, there is a wide range of payment gateways to choose from, as a merchant. Therefore, proper consideration must be made before making your choice. You have to know the solutions each provides, the pricing, the payment methods, the setup fees, accepted currencies, etc.

In this article we’ll discuss the top payment gateways in Nigeria, with their features and pricing:

  • VoguePay

VoguePay is a unique online payment gateway whose vision is to offer buyers and sellers a secure and easy-to-use means of transacting business online.

Also, It allows merchants to give their customers more ways to pay online ranging from internet banking (direct pay), wallet transfers, mobile payment, subscription billing to Bitcoin payment. Receive and make an online payment from anyone even if they have a Voguepay account or not.

Setup fee: N1500 (with Corporate Affairs Commission Certificate) and N2500 (with Government issued Identity cards)

Commission Per Transaction: Naira cards = 1.5%.

(Transactions above NGN 2,500 = 1.5% + NGN 30)

Withdrawal: 0.99% + NGN 99

VoguePay wallet & Wallet Fund transfer: 1%

International currencies:

Transaction fee: 3.8% +

Withdrawal fee: 1.5% +

Payment Method Accepted:

Visa, MasterCard, Bank Transfer, VoguePay Wallet

Accepted Currencies:

Naira (N), USD ($), Euro (€), GBP UK Pound (£), Ghanaian Cedi (GHS) and South African Rand (ZAR)

SDK Stacks: PHP, .net, Java

Annual Fee: Free

  • Flutterwave

Flutterwave makes it easier for banks and businesses to process payments across Africa. The service allows consumers to pay for things in their local currency. Flutterwave takes care of integrating banks and payment-service providers into its platform so businesses don’t have to take on the expense and burden.

Rave is a product of Flutterwave which allows website owners to accept debit/credit payments from customers in 154+ countries. Visa, MasterCard, Verve are supported. Your customers in the United States of America, South Africa, and Nigeria can pay you directly from their bank accounts.


Commission Per Transaction: Local – 1.4%

International – 3.8%

Accepted Payment Method: Local – Mastercard, VISA, Bank Account, USSD, Bank Transfer, POS, Visa QR

International – Mastercard, VISA, AMEX

Setup Fee: Free


SDK Stacks: PHP, Node, Python, Android, iOS


GTPay is a product of GTBank, one of Nigeria’s top banks.

GTPay is a secure internet payment gateway targeted at facilitating payments online. It plugs in with the existing websites of customers and acts as a bridge between the customer’s website and financial institutions. It also accepts both locally and internationally issued cards including Interswitch, MasterCard, and VISA.

Merchants get to value the next working day after the transaction takes place for local transactions and 48 working hours for international transactions.

It allows merchants to view transactions as they occur.


Setup fee: N75,000

MasterCard/Visa (local): 1.5% of transaction amount (subject to a maximum of N2,000)

Interswitch Verve (local): 1.5% of transaction amount (subject to a maximum of N2,000

MasterCard/Visa (International): 3% of transaction amount; no cap

International Gateway Monthly Charge: N5,000


Paystack is one of the most popular payment gateways at the moment. it was founded by Shola Akinlade and Ezra Olubi who are both graduates of Babcock University.

It allows merchants to accept debit and credit card payments online from their customers. It is an easy and reliable way to accept payments across multiple channels, use payment pages to run online campaigns for your products and services without writing code, with an option to run your subscription business with ease.

As a Paystack merchant, you can payout money directly from your Paystack dashboard to any bank account in the country.


Setup Fee: 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

BVN Match API: NGN 15 per API call

Payment Methods Accepted: Card, Bank account, Bank transfer, USSD, Visa QR, Mobile money, POS (coming soon)

Accepted Currency: GHS, NGN, USD

STK Stacks: PHP, Android, Nodejs, iOS, Java, Python, R, ReactJS, React Native, Ruby, VueJS, Xamarin, Yii, NativeScript, Groovy, Erlang, Flutter, Angular, Cordova

  • Interswitch

Interswitch is an Africa-focused integrated digital payments and commerce company that facilitates the electronic circulation of money as well as the exchange of value between individuals and organizations on a timely and consistent basis. A web merchant can receive online payment from cardholders via Interswitch, WebPay, or WebPaydirect.

Furthermore, the WebPAYDirect product allows for a feature called “split” which lets the customer specify multiple banks to receive the money collected, they also provide customers with real-time reports while WebPAY allows for settlement to one bank and one account only.


Setup Fee: NGN 150,000

The commission per Transaction: For transactions below N133,333, a fee of 1.5% applies, and N2,000 flat fee for transactions above N133,333

Accepted Currencies: Naira only

Payment Methods Accepted: Nigerian cards, Verve, MasterCard, and Visa

SDK Stacks: JavaScript, iOS, Android

  • CashEnvoy

CashEnvoy is the only Nigerian Payment Aggregator/Processor on Shopify. Also, the company has multiple security features on its gateway for theft.

Furthermore, Cashenvoy doesn’t charge for online different variants of cards – merchants can accept local and international – VISA, MASTERCARD, eTranzact, and Interswitch cards. The company simplifies the setup process – by just receiving basic details and forms.


Setup Fee: Free

Commission Per Transaction:

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

Payment Method Account:

MasterCard, GTBank, Interswitch, eTranzact, Visa, Verve, Suregifts, Flatterwave, Cashenvoy Wallet, Mobile money.

  • 2Checkout

2Checkout is an America-based company. It allows Nigerian and other International Merchants to receive payments from customers using their Visa, MasterCard, Discover, American Express, Diners Club, JCB, PIN debit cards, and PayPal.


Setup Fee: Free

Commission Per Transaction: 3.9 % + $0.45 USD

1.5% cross-border fee

Payment Methods Accepted:

American Express, Visa, MasterCard, JCB, Neteller, PO, Skrill, Paypal, Bank Transfer, Interswitch Verve

Accepted Currencies:

All major currencies.

SDK Stacks: Java, Ruby, .net, C#, Python

  • PayU

PayU Readies to Compete With mPesa as it Launches in Kenya

PayU has local operations that span 17 markets which are Asia, Central, and Eastern Europe, Latin America, the Middle East, and Africa

They accept Local and International MasterCard, Visa, Verve, as well as other alternative payment methods – Online electronic bank transfer (EFT) and offline. They are also being used by Facebook to collect payment in Naira.

Setup: It is free but their White-label package has a fee

Local Cards:  not disclosed by them

International Cards: not disclosed by them.

  • Remita

What is Remita? ▷

Remita by Oshadami Mike is a multi-channel funds collection platform that supports almost any type of biller organization.

The Remita payment gateway can be used by e-commerce sites, insurance companies, educational institutions, utility companies, religious organizations, clubs, and associations etc. to collect various types of fees.

They are mostly used in the government sector to receive payment online.

A good example of this is the CAC Registration. They make use of Remita in processing their payments.


Setup: Free

Commission Per Transaction: Local – 2%

Foreign – 4%

Minimum – NGN 100

Maximum – NGN 2500

Payment Methods Accepted: Internet Banking, Debit/Credit Cards, Bank Branch, POS Terminals, Mobile Wallet, Cash Agents, mPOS, Direct Debit, Standing Order, and Electronic Purse.

Accepted Currencies: Naira, USD

SDK Stacks: .Net, Java, Android, PHP, Python


Amplify | Nigeria's Online Recurring Payments Solution

Amplify is the smartest way to accept and manage recurring payments in Nigeria.


Unique Selling Points

  • World-class, bank-level security:

All transactions are processed via a PCI-DSS compliant and 3D Secure payment gateway via an SSL encrypted channel

  • Get your money within 24 hours:

Payments made through Amplify will be in your company bank account within 1 day.

  • Card correction technology:

 If there’s an issue with your customers’ card, Amplify will automatically retry until payment goes through, for up to 2 days.

  • Multiple payment options:

 Accept payments in over 40 currencies from VISA, MasterCard, Verve, and American Express. Your customers will also be able to pay directly from their bank accounts.

  • Accept payments without needing a website:

You can accept payments without needing a coder. Create a simple form, send the link to your customer, and get paid.


Setup Fee: Free

Local Transactions: 1.5% + ₦20 (capped at ₦2,000)

International Transactions: 3.8% + ₦20.

Payment Methods: VISA, Mastercard, Verve, and American Express

Accepted Currencies: More than 40 currencies


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