E-commerce is on the rise. As more people in Nigeria, business owners, and customers embrace e-commerce, the need for safe, efficient, and secure payment gateways has increased. Businesses will gather hundreds of frustrated customers and lose money if they use tacky payment gateways. However, no business wants to lose money. Also, customers are the heart of any business. If every time customers try to order a product on your e-commerce website, they get scammed or meet the frustration of their entire lives, sooner or later, you’ll lose the customers. So, if you own an e-commerce business, here are three top payment gateways in Nigeria that’ll facilitate seamless transactions and leave you and your customers happy!

Top Payment Gateways In Nigeria

1. Paystack

Paystack is one of the first and most popular payment gateways in Nigeria. You can’t mention leading payment gateways in Nigeria without mentioning Paystack. Shola Akinlade and Ezra Olubi are the brilliant minds behind the creation of Paystack. However, in 2020, Stripe, a payment company in America, acquired Paystack for over $200. Paystack is known for great things, the most fabulous being it offers a wide range of payment options. How do you want to pay? Card, USSD, Bank Transfer, etc! Paystack’s versatility with payment options makes it a very well-sought-after choice for e-commerce businesses and a solid reason why over 200,000 businesses currently use Paystack.

Features

• Cost: Paystack charges 1.5% + ₦‎100 for local transactions. For international transactions, paystack charges 3.9% +₦‎100. Transactions under ₦2500 do not attract the ₦‎100 fee. Also, local transaction fees are capped at ₦‎2000, ensuring you never pay more than ₦‎2000 in fees per transaction.
• Easy Integration: Paystack offers seamless and undeniably easy integration for e-commerce websites. Paystack is integrated with many eCommerce platforms like WooCommerce, Drupal, Shopify, BigCommerce, etc., making it a go-to for several e-commerce businesses.
• Payment options: If you’re looking for a payment gateway that offers a vast range of payment options, Paystack is your surest bet. With Paystack, customers can pay via USSD, card, bank account, mobile money, Visa QR, PoS, bank transfer, etc. You’d struggle to find another payment gateway that offers the luxury of so many payment options.
• The success rate of transactions: Paystack currently boasts the highest success rates in the market, with a staggering almost 100% success rate. Transactions via Paystack hardly flop. The good thing is that Paystack doesn’t charge businesses for failed transactions. If a transaction fails, rest assured that Paystack won’t charge you for that. They charge only for successful transactions, so they work hard to ensure that 99% of your transactions succeed.
• Fraud detection: Paystack knows how much cyber fraud has increased; as a result, they take fraud detection seriously. Paystack uses manual and automated fraud systems to protect you from fraudulent transactions and associated chargeback claims.
• Security: Paystack is a very secure payment gateway. It is Level 1 PCI-DSS compliant.
• Quick settlement: With Paystack, your funds are processed automatically to your bank account 24 hours after your customers make payment, usually before 10 am every morning. This way, cash flow remains unharmed!
• Flexibility: Paystack doesn’t only offer the traditional make payment on a website and go thing. With Paystack’s very well-documented APIs, you can build custom payment experiences, verify the identity of customers, collect one-time and recurring payments from your app or website, etc.
• Receive payments globally: With Paystack, you can receive payments from international customers via Apple Pay or internationally issued cards. You can also leave your prices in USD and get paid in USD.
• Real-time analytics: Paystack allows you access to real-time reports, which helps give you deep insights into how your business is performing. Also, with Paystack, you can get detailed reports on failed and successful transactions.

2. FlutterWave

Flutterwave is one of the top payment gateways in Nigeria and the most popular of these three, serving over 1 million businesses within and outside Africa. Founded by Iyinoluwa Aboyeji, Olugbenga Agboola, and Adeleke Adekoya in 2016, Flutterwave has become a household name and one of the best payment gateways you can find.

Features

• Cost: Flutterwave charges 1.4% for local and 3.8% for international transactions.
• Payment method: Flutterwave offers 15+ payment options. With Flutterwave, your customers can make payments via different payment options like POS, bank transfer, mobile money, card, visa QR, and bank account.
• Security: Flutter Wave is PA DSS & PCI DSS Compliant and has the highest level of security audit and authorizations among payment gateways.
• Currencies: Flutterwave accepts payment in more than 30 currencies 
• Payment link: Flutterwave provides merchants with payment links that can help them receive payments online if they do not have a website.
• Integration: You can integrate Flutterwave easily into popular e-commerce platforms like WooCommerce, Shopify, Joomla, and Ecwid for seamless and efficient transactions.

3. Seerbit

In 2019, Seerbit launched its checkout API and began operations shortly after. It’s been up from there, as Seerbit boasts over 16,000 merchants currently.

Features 

• Cost: Seerbit charges 1.5% for local and 3.8% for international transactions. Similar to Paystack, fees for local transactions are capped at ₦2000. They also offer a customizable pricing option for enterprises based on transaction volumes.
• Payment method: Seerbit offers a vast range of payment methods that your customers can employ. They allow card, USSD, MOMO, direct debit, bank account, POS, and bank transfer payments.
• Security: Seerbit is a very secure payment gateway. It uses level 1 PCI-DSS.
• Currencies: With Seerbit, you can receive payments in 13 currencies, including United States Dollars (USD), Great Britain Pounds (GBP), and Canadian Dollars (CAD). So even if you have international customers, you’ve got nothing to worry about!
• Integration: Seerbit can be incorporated into e-commerce platforms like WooCommerce, Wix, and Magento. Even if you create an e-commerce website or app for your business, you can easily integrate Seerbit.
• Alternative for merchants without websites: Most payment gateways work with websites, but Seerbit understands that even e-commerce businesses without websites need a safe and reliable payment gateway. So, they rolled out a plan for merchants without websites or online stores. Seerbit provides merchants who do not have website payment links they can share with their customers. Also, even if you have a website, you can use payment links if that’s what you want.
• Settlement: After deducting charges, Seerbit pays the entire sum of transactions received in a day into your bank account within 24 hours.

These are the 3 top payment gateways in Nigeria. These 3 top payment gateways in Nigeria have been tested and approved; they pass the tests for reliable, secure, and user-friendly gateways. If you choose any of these 3 top payment gateways in Nigeria, rest assured you’ll enjoy using them. There are other top payment gateways in Nigeria, but the ones mentioned here are the best! What other top payment gateways in Nigeria would you add to this list?