Best Payment Gateway In Nigeria

Many Nigerian companies and brands today make use of Woocommerce, shopify and other Ecommerce platforms to run their website and make more sales. There is a debate however about the best payment gateway in Nigeria.

What is a payment gateway? A payment gateway is a method through which card payments are made on E-commerce websites, for buying and selling or for other financial transactions.

Best payment gateway in Nigeria

If you are running a business and want to make sales online, you need a payment gateway to make it easier for your customers to make payments. It allows your customers make use of their debit cards to pay for your products and services.


Below are the most popular and best payment gateway in Nigeria:

1. Paystack

Paystack is arguably the most used payment gateway in Nigeria. It provides a simple service for business to receive payment from their customers. It is affordable and secure and good for small, or large business.
One of the very beautiful things about paystack is that they now allow for international transactions.

Pros of Paystack

  • Easy set up
  • Zero set up fees
  • 1.5% + N100 Flat rate charge for local transactions
  • N100 flat rate excluded for transactions below N2,500
  • Maximum of N2000 fee for all transactions.
  • Starterpack for unregistered businesses
  • N50 for payouts

Cons of paystack

  • Does not support individual offsetting
  • Only supports business in Nigeria
  • 3.9% + N100 flat rate charge for international transactions

2. VoguePay

VoguePay is known to be the first payment gateway in Nigeria to allow international transactions. It gives business the opportunity to receive payments in major currencies and also accept bitcoin payments.

Pros of VoguePay

  • Offers multiple channel
  • Easy integration
  • Supports all currencies payment.
  • Pays businesses in default currency
  • 1.5% charge for local transaction

Cons of VoguePay

  • Does not allow unregistered business
  • Merchant registration fee of N1,500 with CAC and N2,500 with Government ID cards.

3. Rave by Flutterwave

RAVE by Flutterwave is another payment gateway in Nigeria. It can be used by both registered and unregistered businesses. It is safe and easy to use.

Pros Of Rave

  • Supports multi-currency
  • Supports many African countries
  • Allows for account payments (debiting your customers account)
  • Free set up
  • 1.5% + N100 for local transactions (N100 waived for transactions lower than N2000)
  • N45 per payout

4. InterSwitch WebPay

This is known to be the oldest payment gateway provider in Nigeria. It is secure and used by a lot of banks and business.

It is also one of the most trusted payment gateways in the country.

However, it is not really used by most individuals and businesses and used by only large brands and banks. This is due to the high cost involved.

Pros of interswitch webpay

  • It is highly trusted.
  • 1.5% for transactions below N133,333 and N2,000 for all transactions above N133,333.


Cons of Interswitch webpay

  • Integration fee of N150,000

5. GTPay

This service is provided by Guaranty Trust Bank. The payment is secure and works with all debit cards on interswitch networks. It is not really used by a lot of websites today.

Pros of GTPay

  • Provides multiple channels and alternatives
  • 1.5% charges
  • Maximum N2,000 charge for all transaction
  • 3% charge for international transactions

Cons of GTPay

  • Integration fee of N75,000
  • N5,000 monthly for International Gateway.


So which Payment Gateway is the best in Nigeria?

The choice is difficult, but considering the pros and cons, we will advise you to go for Paystack or Rave by Flutterwave

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