online payment gateway in nigeria

Online Payment Gateway in Nigeria
olatunjiadetunji.seowebanalyst.com/2016/07/16/Online-Payment-Gateway-in-Nigeria.html
Online Payment in Nigeria.
Well it's no news that Nigeria is a fast growing developing country and same can be said about it's technology sector,
if you read my post on digital marketing in Nigeria you will understand this statement.
So with the soar growth of the internet and the way businesses and individuals have now embrace the web to
represent their business online, there is a great need for dependable e payment companies in Nigeria that are
capable to handle online payment in Nigeria. This has left most Nigerian Banks to dive into this lucrative opportunity
of facilitating online payments for their customers.
Although there are international online e payment processors that can handle e payment in Nigeria, but most do
come with a lot of restrictions and high transaction fees compared to Nigeria payment gateway, which in most cases
are also restricted to handle international transactions. There are only few e payment processing companies in
Nigeria that can boost of such facility to allow you to collect your payment both locally and internationally.
In this post I will provide a comprehensive list of familiar and best online payment processing platforms which you
can deploy on your various websites with no restriction to your website frame works.
To provide you with a list of best online payment gateway in Nigeria I will be measuring each of them with the
following metrics:
Easy integration work flow and documentation
Fast responding and Technical support
1/24

Usage and level of acceptability
Setup convenience and setbacks
Setup fees and charges
Vulnerability (security)
Compatibility with Banks
Online reputation (review) and popularity
Nigeria payment gateway review are not based on my personal experience but are based on tons of web users
report on their experience and usage of each e payment system in Nigeria. To be candid, I can assure you this is the
most detailed post you will ever get Online payment gateway Nigeria review.
List of Best Online Payment Gateway in Nigeria.
1.) GTBank GTPAY Review
GTBank has come on board to help service the issues of delivering e payment in Nigeria with a very easy way to
process online payment deposited to your local accounts. With GTPAY merchants can integrate it to their e-
commerce website to start accepting payment online using debit Cards issued by banks on the Interswitch Network.
The GTpay payment platform support Nigerian Cards such Visa, MasterCard and Interswitch Verve card.
GTBank GTPAY has over 4000 customers using the gateway to process both local and international transactions
2/24

online. Now GTBank has a very strict procedure when it comes to getting a GTpay account with them.
Guaranty Trust Bank Plc Approval for international card acceptance policy has been reviewed. To activate GTBank
GTPay for international card acceptance, the customer has to open and maintain a corporate domicilliary account
for 6 to 12 months, before been approved after submitting GTPay and completing GTBank and Interswitch
certification process. This is quiet annoying, as the Bank neglects to inform existing customers about this ordeal nor
inform new customers it would not be possible to access GTPAY on your website instantly at point of submitting the
GTPay form. Thus we discovered that the bank only activate customers for local cards; and international acceptance
require them to open a Domicilliary account and run for at least 6 months.
Some web developers and programmers reviews about the GTBank GTPay integration complain that the
certification and approval process is quiet long and lengthy. Amazingly, after passing this whole process of GTBank
GTpay, proceeded to Interswitch for certification, GTBank team are supposed to move the site to Go live stage.
Amazingly, they just delay/stall the whole process indefinitely for no justifiable reason. We experimented this with
integration of GTBank GTPay ourselves and confirmed this to be true.
The GTPay platforms have a better integration work flow, and codes have been simplified for developers. GTBank is
a certified developer partner; hence GTPAY Integration for merchants’ fee is waived. Their customers get a waiver
for integration to interswitch– reduced sign-on fee. GTPay integration documents and coding has been upgraded to
make it easier for integrators to understand. However, the certification and approval process takes quite a very long
time.
GTBank has a dedicated, responsive and good technical support team that attend to issues timely. Emails are
responded timely after sent by customers. One of our clients confirms this to be true.
GTPay payment gateway is one of the most widely used online payment gateways in Nigeria. The GTBank gateway
has over 4000 customers using the gateway to process local and international transactions. It supports Visa,
MasterCard and Interswitch Verve card. GTPay payment gateway also supports international cards (Visa and
MasterCard).
Setup Convenience and setbacks
A critical requirement for activating GTBank GTPay for international card acceptance is that customer must open
and maintain a corporate domiciliary account for a period of 6 to 12 months, before being approved. This is
annoying and frustrating as customers are not being notified on time. Even after the 6 to 12 months period,
international card acceptance still comes with a condition of 3% charge per transaction (no cap) and a N5, 000.00
monthly subscription fees. This is no doubt a huge amount for small medium enterprise and discouraging for a
customer that doesn’t regularly do large volume turnover transactions. This is the reason why many of GTPay
customers don’t subscribe to the international card acceptance.
Again, the certification and approval process takes quite long and lengthy time (i.e. 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
3/24

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 check out 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
SETUP FEES
GTBank GTPay platform supports both wordpress themes and e-commerce website. The initial setup cost is N75,
000 and integration cost varies depending on your developer.
CHARGES
MasterCard/Visa (local) –TRANSACTION FEE: 1.5% of transaction amount (subject to a maximum of N2, 000)
Interswitch Verve (local) –TRANSACTION FEE: 1.5% of transaction amount (subject to a maximum of N2, 000)
MasterCard/Visa (International) – TRANSACTION FEE: 3% of transaction amount; no cap on
International Gateway Monthly Charge – N5, 000
BEARER: MERCHANT—————MERCHANT
The system is highly safe
GTBank is a certified developer partner. The gateway supports Visa, MasterCard and Interswitch Verve card. It also
supports international cards (Visa and MasterCard).
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
there are already coded script for any e-commerce frame work which you can get via STORE PLUGINS for a
lesser fee.
2.) Interswitch Webpay Review
Writing a list of best top online payment gateways/portals in Nigeria wouldn't be complete without
mentioning Interswitch Webpay. They are the frontier with e payment in Nigeria and also contributed largely to the
facilitation of ATM (automated teller machines) in Nigeria.
4/24

WebPAY is an Internet Payment Gateway developed by InterSwitch to facilitate payments on the Internet using debit
cards issued by member banks on the InterSwitch network.
When you talk about online payment processing platform in Nigeria, I nterswitch is the frontier for all online payment
processing platform in Nigeria. They are the pioneer of online payment platform in Nigeria. They process both online
and offline payment for virtually all commercial banks in Nigeria.
Interswitch webpay payment system adopts the same process as GTBank GTPay. The process is a bit lengthy and
also uses a DIY integration document. Their documentation is not usually enough for you to easily execute the
integration. Their documentation is not so helpful; they need to do more work on their documentation. However, the
payment processor has partnered with many developers to assist customers with integration at a low cost.
5/24

They have a fairly good technical support team. However, response to issues when using Interswitch WebPAY is
slow. They delay in responding and resolving customer issues and challenges. Reconciliation is in 2 ways; that is
Bank Settlements and payment gateway portal transaction log.
The company has over 5000 customers using the online payment gateway to receive payments. The Interswitch
WebPAY gateway support Verve cards, Visa and MasterCard. However, this payment gateway platform only
supports Nigerian interswitch compliance cards. International cards such as VISA and MasterCard are not accepted
on WebPay gateway. A service many Nigerians merchants and online investors are now demanding for.
To use the Interswitch WebPAY to accept payment online, the customer has to register and be setup on the gateway
in demo mode. Thereafter, the customer will go through a certification process; once the test process is passed, they
will be migrated to a live mode to start accepting real-time transactions on their website. To enrolled, the customer
requires a bank to generate Merchant ID on their platform before Interswitch will then synchronize them together.
The whole setup process is a bit lengthy and time consuming.
The setup fee for Interswitch Webpay on website is N150, 000 (One Hundred and Fifty Thousand Naira Only). This,
to us is quite high especially for small medium enterprise (SME).
The system is absolutely safe.
WebPAY plugs-in seamlessly with existing websites; acts as a bridge between a merchant’s website and banks to
process payment transactions. The card details are sent in an encrypted manner to InterSwitch for real-time
authorization at the issuing bank. All Nigerian banks have an Interswitch license for processing Interswitch cards
online and through other platforms such as POS, ATM etc.
How to get started with interswitch webpay/Quickteller
To get started with interswitch, visit the interswitch website Terms and Conditions:www.interswitchng.com
3.) STANBIC IBTC Bluepay (CIPG & MIGS) Review
Where other banks seems to be slacking STANBIC IBTC seems to have the right ringing tone! similar to GTBank,
STANBIC IBTC also offers it's own online payment processing platform for their clients that can also
process international transactions by the way they are the only Nigeria bank that will offer you a better cheaper
dollar rate if you are to purchase USD dollar or to convert Naira to dollar USD to make purchase via the internet
(using local credit card).
6/24

Stanbic IBTC Bank has two payment gateways: Consolidated Internet Payment Gateway (CIPG) and MasterCard
Internet Gateway Service (MIGS). The two payment gateways of the bank have fantastic features, CIPG to us is a
basic payment gateway, while the MIGS have extra premium features.
CIPG support merchants receiving payments via multiple card variance cards; including MasterCard, Visa, Verve,
and Etransact. It also allows receipt of payment via direct bank transfers with the use of CentralPay which rides on
NIBBS instant payment platform. It clears and settle the funds to the customers/merchant Stanbic IBTC account.
MIGS (MasterCard Internet Gateway Service) is the premium version of the CIPG. MIGS enables Merchants to
process local and international cards using the MasterCard platform. As a premium service, It offers segregation of
local and international transactions which makes processing easier, support selective profiling per risk level for
merchants and comes with unique Payments Processing features; among which are: Purchase – outright
authorization & settlement, Pre-Auth & Capture – Authorize now pay later, Void/ Reversals – Before settlement,
Refunds – After settlement, Tokenization – card storage in the form of a token which would be used for future
transactions, Recurring payments – Merchants can set recurring payments with historic data of the initial transaction
done by card holder.
Setup for international cards is usually fast and seamless. However, some customers complain of downtimes, recent
decline of cards (especially international cards) and settlements being delayed which is greatly affecting their
business especially when they have to pay their vendors and suppliers on weakened basis. They are making timely
effort to improve in this area.
The cost of this payment gateway is cheaper than many banks gateway currently (excluding UBA UCollect which is
free).
Setting up of CIPG STANBIC IBTC myBluepay is N50, 000 (Fifty Thousand Naira)
while setting up of MIGS STANBIC IBTC myBluepay is N250,000 (Two Hundred and Fifty Thousand Naira)
7/24

Charges
MasterCard/Visa (local) – TRANSACTION FEE: 1.5% of transaction amount (subject to a maximum of N2, 000)
Interswitch Verve (local) – TRANSACTION FEE: 1.5% of transaction amount (subject to a maximum of N2, 000)
MasterCard/Visa (International) – TRANSACTION FEE: 4% of transaction amount; no cap.
International Gateway Monthly Charge (MIGS only) – N5, 000
CIPG (Consolidated Internet Payment Gateway)- It is a secure payment gateway powered by Interswitch that
facilitates collections via a merchants website.
While the Security and Fraud Solutions that comes with MIGS; such as: Fraud screening – which offers a basic
gateway fraud prevention tool which allows the Bank to control merchants acceptance based on the type of
transactions, black-list look-up and behavioral pattern blocking. Cardholder verification: MasterCard secure code,
Verified by Visa, J/Secure (JCB), Enable 3D secure blocking.
Stanbic IBTC Bank Mybluepay payment gateway is a payment gateway provided by Stanbic IBTC Bank
To get started with Stanbic IBTC Bank Mybluepay payment gateway; visit Stanbic IBTC BANK bluepay website.
During the cause of of our review, test, experimentation, integration and interaction with the customers actively using
it, we discover that the gateway have good support for their payment gateway. Setup for international cards is fast
and seamless. Though some customers complain of downtimes, recent decline of cards (especially international
cards) and settlements are delayed which is greatly affecting their business especially when they have to pay their
vendors and suppliers weekly. When we contacted the bank they said they are already making some improvements
on the gateway.
There are already coded script for any e-commerce frame work which you can get via STORE PLUGINS for a
lesser fee.
4.) 2CHECKOUT Review
2Checkout (2CO) is an international third-party payment processor that, at its most basic level, allows money to be
transferred from a buyer to you after a purchase is completed. Like its main competitor PayPal, 2CO is the name
buyers will see if they check transactions on their credit card bill. 2checkout is a USA based company established
in 1999. 2Checkout has been around for the past 14 years. The company has over 50,000 vendors and a
good alternative to competitors like PayPal, since PayPal Nigeria is not providing the facility to accept payment in
Nigeria(miraculously 2co has integrated paypal has a payment gateway on their platform, what this means is that
you can now use PayPal Nigeria to pay for your shopping online if you don't want to utilize your credit cards) .
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. In addition to this, experience
has taught them to build 300+ Fraud rules over time and this met PCI Level 1 compliance.
8/24

The documentation is very easy to implement. It usually include a pre-integrated payment gateway, a merchant
account, PCI level 1 compliance, international fraud prevention tool, and plug-ins for 100 of the most popular carts.
You can contact them via telephone (only offer toll free to US and UK) or email (most preferable). Respond time is
between 3 working days.
They have served over 50,000 Sellers across the globe. 2Checkout accept the following cards: Visa, MasterCard,
American Express, Diners Club, JCB, PIN debit cards with the Visa or MasterCard logo, Debit cards with the Visa or
MasterCard logo, PayPal, Discover.
2Checkout offers several helpful features, including a handy app, integration with tablets and smartphones,
recurrent billing, direct checkout, and the ability to accept 26 currencies in 15 languages. The dashboard includes
sales history and trends and the option to grant various amounts of access to different users. 2CO is PCI Level 1
compliant and all transactions undergo a fraud review within 24 hours of completion.
2CO offers two main payment solutions for businesses:
Dynamic Checkout.
Direct Checkout.
Customers won’t have to sign up for a 2CO account to complete a sale but can quickly make purchases using debit
9/24

or credit cards with either plan. While both services allow your business to complete transactions by redirecting
customers to the 2CO site, there are some differences.
Dynamic Checkout:
Automatically displays checkout optimized for customer’s device format (i.e. laptop, tablet, smartphone.)
Marketed to sellers just starting out or with a smaller number of product offerings.
Payments can be customized and localized.
Direct Checkout:
Format gives customers the impression they’re still on your site.
Includes overlay payment form.
Cuts down on the number of fields that must be completed to finish a transaction.
In my opinion, unless it’s really important for your site to remain visible in the background while customers complete
purchases and you’re a small to mid-range store Dynamic Checkout is a solid pick.
Approval to use the gateway is discretionary and the gateway can be suspended or blocked without good reason(s).
prohibited products list come in a long list which discourages setup. If your business could be considered high-
risk then you might fall victim to freezes, fees and the termination of accounts (read how to avoid that here). Again,
to access funds takes a longer period when compared to Nigerian payment processors and gateways.
SETUP FEES
At some point merchants were required to pay a $49 setup fee, but now 2CO advertises no setup fee. Service
commitments are month-to-month. You can view the full charges pricing here.During your application
submission will be processed, your website will be reviewed by underwriting team. Some of the things
considered during the review include your products and services, marketing techniques, price, refund and privacy
policy. After review, and your application approved; you will also be required to validate compliance with the
Payment Card Industry Data Security via trustwave.com, if you pass this validation, you can start selling with
2Checkout.
Charges
MasterCard/Visa (local) – TRANSACTION FEE: 5.5% + 45¢ successful transaction
Interswitch Verve (local) – TRANSACTION FEE: 5.5% + 45¢ successful transaction
MasterCard/Visa (International) – TRANSACTION FEE: 5.5% + 45¢ successful transaction
*Cross border: A 1.5% fee applies to payments you accept from customers outside of Nigeria.
(new fee charges for new 2co user's in Nigeria)
The gateway having been on service for the past 14 years, have learn from experience to build 300+ Fraud rules
over time. They have also met PCI Level 1 compliance.
10/24

A merchant can choose to receive Payments in their preferred currency – United States for Dollar if set as default
currency) at the admin dashboard. This is a best solution to many Nigerians and International customers who are
requesting to simplified payment option that will display USD or other preferred currency at 2CO. Upon settlement of
fund and maturity, the Merchant can request to receive funds in their Nigerian domicilliary account or transfer to their
Payoneer MasterCard which can be withdrawn via ATM machines.
Merchants can use the payment gateway to receive payment from Nigerian customers since many Nigeria Banks
now give their customers International Visa and MasterCard tied to their usual Savings and Current account.
However, the problem here is that it takes a longer time to access the fund.
To get started with 2checkout, visit the website www.2checkout.com.
5.) CASH ENVOY Review
Cash Envoy is a Nigerian payment system, owned by Electronic Settlement Limited that started on November 2009
and enables merchants receive payment online from all the major Nigerian debit cards, international
Visa/Mastercards and also from the CashEnvoy wallet. The payment platform has been endorsed by the Central
Bank of Nigeria (BPS/PSP/GEN/PSM/02/010) to process web transaction. They are member of Electronic Payment
Providers Association of Nigeria.
CashEnvoy can settle fund to customers account within 24hours, unlike interswitch and other bank e payment
system. Cashenvoy vision statement is to create the magical payment processor 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.
11/24

I should say they are the best because they have shown to be so. Practically, you will not need the help of anybody
to understand the integration process. You will find everything you need in the documentation. You can only contact
them when you are going LIVE with the payment aggregator. Although, you will only need an experience as a
developer.
I will at this juncture suggest that all payment platforms learn from this company on how to make documentation
simple and straight forward. No ambiguity, no obstruction.
CashEnvoy offers very good support (a bit slow with email replies) and provides documentation/ ready-made
plugins for popular shopping cart solutions such as woocomerce, OpenCart, Prestashop and Magento.
Cashenvoy doesn’t charge for online different variants of cards.
Merchants can accept local and international card such as – VISA, MASTERCARD, eTranzact and Interswitch
cards.
Virtually everything is automated. The company simplifies the setup process by just receiving basic details and
forms. You don’t need to call anybody to get a merchant account. There is always a sandbox for your test and the
test accounts are made available online. With this, you can’t just be doing it wrong. I see this as a perfect choice for
those who need to choose a platform that would not require them to keep calling technical support. They power
website with the UAT document, customers have to pass their test phase of site integration – that is to test your
website before going live.
Setup fees
Registration fee, admin, fee— 0
Withdrawal fee- 0
Activation fee- 0
Setting up Business account is Free, except to receive payments which comes with a competitive rate of 2.5% +
N12.60 fee for a Nigerian payment aggregator presently. The Business account features includes: Accept payment
on your online store via debit cards, internet banking and CashEnvoy wallet, Receive payment and donations online
with ease, Easy to use, with complete transaction records, No integration, withdrawal or subscription fees and Easily
pay and settle other merchants on your platform.
The merchant decides who bear cashenvoy charges unlike paypal which the merchant bears the cost.This can be
easily selected from the merchants CashEnvoy Dashboard.
Charges
Send Money
To Business Account only – Free
Make Payments
To Business Account only – Free
12/24

Transaction fee BUSINESS ACCOUNT
RECEIVE PAYMENTS 2.5% + ₦12.60
WITHDRAW FUNDS ₦120.00 fee for withdrawals of ₦4,000.00 or less
No hidden charges
International Cards
Commission = 3.9% +N2.60, maximum of N5000.
Their implementation work flow (as given by them) is lovely but some careless developers do implement it with
room for vulnerability.
All websites that are integrated with CashEnvoy can accept payment from all the major Nigerian debit cards,
international Visa/Mastercards and also from the CashEnvoy wallet.
How to get started with Cash Envoy: To get started with cash envoy, visit cash envoy official
website www.cashenvoy.com
6.) Voguepay Review
Voguepay is a Nigerian online 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. The Gateway can process local and international Visa, Mastercard and
Verve card. The setup process is faster as customers doesn’t have to go through the Interswitch Certification
process. The gateway has feature to accept recurrent billing which simplifies the payment process for both the
customer and the merchant as the constant payment is automatically debited from the card at pre-defined time
frame, a feature many Nigerian customers have been requesting for years.
13/24

They have pre-developed Plugin which merchant can just download and install to their existing website for selected
shopping carts. This minimizes the stress and energy of having to integrate the gateway to your website. Sites
without a readymade plugin or code, the company has an integration document you can use for custom integration
with your website. You can integrate Voguepay payment gateway into wordpress blog.
They are not fast in response. One of my clients informs me that he reaches voguepay support on phone but the
responses he got from them is not quite commendable. They do not show some level of seriousness in their
business.
The gateway Supports both Local and international cards. It has wallet Funds Transfer for local and international
merchants. Voguepay enables Merchants to display the paying currency for the customer at payment page. So,
merchant can choose to display Naira or United States Dollar. In our last review, we see that it was impossible to
change the display currency from Naira (NGN) to United States Dollar (USD), but now it’s possible. VoguePay USD
MasterCard/VISA channel has been disabled. This is due to the fight against fraud and unauthorized card usage,
Merchants who wish to have the channel enabled for them will have to request for it by contacting their support team
Voguepay’s comprehensive integrated solutions and services are quite understandable. The setup process is faster
as customers don’t have to go through the Interswitch network Certification process. The gateway accepts recurrent
14/24

billing which simplifies the payment process.
Setup fees
NIGERIA – Business Account
Business Account opening – Free
Merchant Fee – Free
Merchant Verification N1500 (with Corporate Affairs Commission Certificate) and N2500 (with Government issued
Identity cards)
Charges
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 customized Integration)
VoguePay distinguishes itself from other online payment aggregator with its array of features guided by its core
values: Security and Reliability. Voguepay has multiple security tools such as SSL, IP monitoring, encryption, User
ban and suspension management, risk evaluation management system, email and phone number verification. All
this will help minimize fraud by monitoring fraudulent IP addresses, securing the payment page, user authentication
and host of others.
Voguepay can process local and international Visa, Mastercard and Verve card. The system support automatic
withdrawal to the merchant bank account.
How to get started with voguepay:To get started with voguepay, visit voguepay official
website: www.voguepay.com
7.) Simplepay Review
Simplepay is a new Nigerian payment gateway founded in 2013. 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.
15/24

The company also has developed integration Plugin for different variants of shopping carts and Content
Management System, in addition, the integration document is available on the website for custom integration.
Getting your website running to accept online payment is simple – it takes a non Technical Person 2hours, for a
Developer, you should result in minute.
Their response to issues is slow. Customers complain about their recent poor service delivery, delay and incomplete
remittance of fund among others. Simplepay attributed this to their ongoing upgrades on their entire infrastructure,
certification, and global expansion plan among others.
Accept local and international cards. With simplepay, customers must not have an account with any specific bank in
Nigeria to used Simplepay. You can choose any bank of your choice; unlike GTBank GTPay, Zenith GlobalPay and
UBA UCollect and others. The payment platform does not also insist on SSL, DEDICATED IP among others like
UBA UCollect
Integration plugin are available for download and where plugin is not applicable, easy to implement documentation
are available on the website.
16/24

However, the ticket support page link cannot be foundd simplepay4u.com. There is no telephone number on the site
and it takes long time to respond to customer queries via email. The system keeps debiting customers card severally
for transaction charges, this leads to so many complains. The amount credited is lesser than amount withdrawn, all
efforts to correct proves unsuccessful.
The system only allow N100, 000 (One Hundred thousand naira) per withdrawal. With this, a customer withdrawing
above that will have to do this multiple times and pay withdrawal charges several times a. So the charges are much
higher if you are doing huge transactions
This takes more time to withdraw. Unfortunately, when the fund is withdrawn to account, the total sum expected is
not credited. When contacted to reconcile and refund the outstanding balance, no response heard.
Fees
Signup fees: FREE
Integration: FREE
Charges
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 is on a high side though they claim to have an intelligent system that constantly check and monitor
transaction flows. The company has an amazing fraud review system
Their customers accept payments online using their local and international Visa Card, MasterCard and Interswitch
cards. The system support automatic withdrawal to the merchant bank account.
How to get started with Simplepay: To get started with simplepay, visit their official
Website: www.simplepay4u.com
8.) Zenith bank Globalpay Review
Zenith Globalpay is a product of Zenith Bank Plc, allowing the Bank customers to receive local and International
card payments on their website. it takes the bank a longer time before enrolling their customer on the payment
gateway platform. This is even worst when the customer is requesting for International card acceptance. According
to a staff of the Bank, it’s better to get it right and minimize fraud than to make it open to everybody.
17/24

There are two ways to take advantage of GlobalPAY:
• 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.
The integration work flow and documentation is commendable
Those guys respond quickly to issues. They have a good customer setup process and technical support.
The payment gateway support local and international cards such as MasterCard, Visa and Verve Cards. They have
18/24

manageable customer base.
They accept multi-card with just a single integration.
They use 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). Monthly charge is
discouraging for customers with international card acceptance. Customer verification, KYC and approval process for
international card acceptance can be delayed.
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).
The Bank monthly Access Fee – N5, 000.00 and Foreign Settlement Charge – $50 (per settlement) combination are
the highest so far. Setup fee of N150, 000 – is also high.
It is safe. It utilizes the highest level of data protection via PCI Compliance
Globalpay is owned by Zenth bank. The gateway accepts all banks local and international cards such as
MasterCard, Visa and Verve Cards. www.zenithbank.com
9.) UBA UCOLLECT Payment Gateway Review
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, allowing their
corporate customers to receive online payment from customers using their local and international Visa and
MasterCard.
The gateway technically simplifies the process by enabling merchants receive payments without the usual stress
of Interswitch certification. Also when customers want to pay, the Merchant, they don’t need to enter the usual OTP
password sent to phone or email before a transaction is authorized. This makes the payment process easier and
faster for both stakeholders, amazingly the gateway is deployed FREE of charge
The online payment gateway HAS BEEN DOING POORLY due to is slow resolution of customers issues, rapid
decline in customer service, deactivation of customers from UCollect payment gateway without notification of
Merchant, cumbersome setup process and even delay of customer application for UBA UCollect payment gateway
especially when customer is requesting for international card acceptance. The new bank policy makes running of
UBA UCollect more difficult, even for existing customers having UCollect. The Bank sometime ago sent an email
requesting that all Web merchants (except for top corporate) should be disabled until they comply with UBA
Merchant Acquisition and Evaluation framework. Hence, the bank is requesting for so many irrelevant documents;
19/24

which obviously is discouraging and frustrating. All these recent changes complicate and make operation of UBA
UCollect difficult for a merchant.
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
other things they would have added.
Zero! They never respond fast as you may want them.
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.
The Bank finally published product detail of UBA UCollect on their official website.
There are few incomplete files and link missing, which can make it cumbersome 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.
20/24

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 quite higher: 1.5% for local transactions – with no cap and 4% for international – no cap.
They have partner with developers who can develop a website and integrate UBA UCollect for the bank customer
FREE.
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).
The system is safe.
UCollect payment gateway is provided by UBA. U-Collect is a Consolidated Internet Payment Gateway Solution
which integrates multiple payment solutions available in Nigeria – VISA, Verve, MasterCard, and e-Tranzact on the
Bank website. However, the gateway does not support an Interswitch Verve card which is the indigenous and widely
used card option in Nigeria. There is usually no need for OTP code sent to email or phone as the gateway is not
powered by Interswitch.
How to get started with UCOLLECT
To get started with ucollect, visit official Ucollect web page
21/24

Website: www.ubagroup.com
There are already coded script for any e-commerce frame work which you can get via STORE PLUGINS for a
lesser fee.
10.) REMITA Review
Remita is a new e Payment in Nigeria and an e-Collections solution developed by SystemSpecs Limited. It enables
Merchants and Customers to receive and make payments on a single multi-bank platform.
Remita is in use by many individuals, public and private sector organizations that process over 500 Billion Naira
worth of transactions on a monthly basis. The Central Bank of Nigeria endorses Remita for the payment and
collections of funds on behalf of the Federal Government of Nigeria. Remita is used by 22 commercial banks and
over 400 micro finance banks in Nigeria. Remita has significantly revitalize the e-payment industry in Nigeria.
Remita can be integrated into a website, portal or ecommerce store. The gateway provides a standards-based
REST interface which enables application developers to interact in a powerful, yet secure way with their Remita
account. Developers may call the API directly over HTTPS using the language of their choice. Integration enable the
corporate or merchant leverage on Remita’s diverse and seamless payment options to complete customers’
transactions in a handshake implementation known as Remita integration. Available methods of integration include;
1. Downloading of Remita Plugin and checking of plugins for compatibility with your eCommerce or CMS store
and download the appropriate one. Integration with a plugin is simple and doesn’t require any custom
integration.
2. Use the integration specification to adapt Remita to your specific needs.
Every detail of integration, documentation and setup process are available at remita website. A new customer can
begin accepting payment online with Remita within five (5) working days once integration is completed.
22/24

Remita presents you with a “Push” and a “Pull” model to receive funds. The Push model empowers you to push an
e-Invoice to your payers to empower them to pay you easily electronically. The “Pull” model empowers your payers
to either visit your website and click a “Remita-Pay-Now” button or select you as a beneficiary at remita.net. Either
way, they would be requested to complete a pre-defined form requesting for their details before proceeding to pay
you easily electronically.
Hmmmmmm! Their response to issues is slow. Sometimes, they ignore customers when contacted.
The gateway supports multiple card variants – Verve, MasterCard, Visa, Unionpay. It also supports China
Unionpay. Remita is an award winning Software Company which has received award from the Central Bank of
Nigeria, Nigerian ICT Centenary Awards, and Beacon of ICT awards. Their customers includes: Nnamdi Azikiwe
University, University of Nigeria University of Abuja, and Department of Petroleum Resources, Vconnect,
Manufacturers Association Nigeria, National Open University of Nigeria, Corporate Affairs Commission and many
others.
Remita presents a “Push” and “Pull” model of receiving funds. The Push model empowers you to push an e-
Invoice to your payers to empower them to pay you easily electronically. The “Pull” model empowers your
payers to either visit your website and click a “Remita-Pay-Now” button or select you as a beneficiary at
remita.net. In either way, they would be requested to complete a pre-defined form requesting for their details
before proceeding to pay you easily electronically. Meanwhile, their minimum of N100 per transaction is
higher than bank gateways whose charge is 1.5% flat on the average.
Setup fees and charge
Setup Fees
FREE SETUP (No setup fee paid by customers)
Charges
MasterCard/Visa (local) – TRANSACTION FEE: 1.5% of total transaction (subject to N100 minimum and N2,000
maximum)
Interswitch Verve (local) – TRANSACTION FEE: 1.5% of total transaction (subject to N100 minimum and N2,000
maximum)
MasterCard/Visa (International) – TRANSACTION FEE: Additional 2% (Minimum of N100 and a Maximum of
N2,500)
NOTE: Remita Prices are VAT exclusive
Security of transactions shouldn’t be a problem as there are multi-level security and control features on the platform,
according to Remita. Such as: Application Secured server, Data encrypted (at rest and during transmission), multi-
layer authentication features, authorization check and balance, pre-defined approval workflows (up to ten levels) and
user validation (at the point of initiation and up to remittance). They have a comprehensive multi-party and multi-
channel transaction real-time monitoring, screening and reporting structure (inclusive of the above security features).
Example; no single person can initiate and finalize a single transaction on the platform. A combination of soft and
hard tokens, biometric authentication and multiple approval levels among other security and control features are
23/24

natively built into the system.
Remita support multiple card variants includes: Verve, Visa, MasterCard and China Unionpay
Remita also comes with an optional Payroll and HR solution for full integrated processing.
Remita, developed by SystemSpecs, and voted many times as Nigeria’s Software of the Year, is indeed a success
story and a pride to Africa.
What Can Remita do for you?
Make Payments from All Your Accounts in All Banks on a single platform
Receive Funds through Debit/Credit Cards, Branches of all Banks Nationwide, etc.
Automate your Payroll and deliver Payslips to all Staff.
Who Can Use Remita?
Individuals to manage their personal finances
Public and private sector organizations of any size, structure and complexity
To get started with Remita integration, visit the website:www.remita.net/developers/
24/24

online payment gateway in nigeria

Recommended

Recommended

More Related Content

What's hot

What's hot (20)

Viewers also liked

Viewers also liked (7)

Similar to online payment gateway in nigeria

Similar to online payment gateway in nigeria (20)

Recently uploaded

Recently uploaded (20)

online payment gateway in nigeria