HOW TO ACCEPT ONLINE PAYMENTS AND SEND MONEY IN NIGERIA

HOW TO ACCEPT ONLINE PAYMENTS AND SEND MONEY IN NIGERIA

How to accept online payments? This becomes a challenge the moment you have a website that sells things. It is a question every serious online entrepreneur would ask him or herself at some point. How will they pay me? How will my customers pay for the services or goods I offer online?

How to accept online payments

We all want the payment process as easy as possible both for us and our clients. We also want online transactions carried out on our website very secure too. No one wants clients complaining about identity fraud after processing a transaction on our website.

 

Up till now [june 2016] there is no nigerian credit card yet. This is because Nigeria doesn’t yet operate a credit system. I mentioned this because this is one of the major reasons why Nigerians are not yet used to making transactions online. The people haven’t yet being cultured in a credit system.

 

The average Nigerian business man believes in “pay before service”. This is why Nigeria payment gateway providers are few while nigeria payment gateway are almost extinct. This explains why companies like Olx failed when they first came to Nigeria, while Jumia and Konga have permanently adopted pay on delivery model for Nigeria transactions.

 

HOW TO ACCEPT ONLINE PAYMENTS ON YOUR WEBSITE

 

TOP NIGERIA PAYMENT GATEWAY PROVIDERS

 

VOGUEPAY

This is the top online payment solutions in Nigeria and also the top for online payment services in Nigeria. You can search for “voguepay” on google and click voguepay review by the side to see recent reviews about the company.

 

Their prices/fees are quite fair too you can click here to see recent prices. This is their official website https://voguepay.com/ I appreciate them because how well they thought through their solutions. They already have every feature you would ever need to make selling on your website easy.

 

CONS

Monopoly – They are at the top so what do you except

 

Fees for everything. These guys charge you for literally everything you do with their platform

 

They are kind of old school in design and methodology. 1980 design plus complicated registration and update process.

 

SIMPLEPAY NIGERIA

As their name sounds its simple. You can check them out here https://www.simplepay.ng/pricing/

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PROS

These guys are new school. Awesome design!

Low fees

Ready customer care with a beautiful voice I called them lol

 

CONS

Nowhere close to voguepay in terms of robust features. I mean Voguepay even has a wordpress plugin for accepting money payments online! Can you beat that?

 

GTPAY BY GTBANK

Let us just say this one more thing GTBank has used again to oppress other banks in Nigeria and leave it at that.

 

You can find the details here http://www.gtbank.com/gtpay

 

2CHECKOUT

This is an internationally company. If you want to appeal to an international audience then use them. However, if you are in Nigeria do note that you might not be able to get your money except you have made as much as $300 in sales.

 

Check out this link http://help.2checkout.com/articles/FAQ/What-payout-options-do-I-have-in-my-country/. For their current prices (it used to be 5.5%+ 45 cents per successful transaction) visit https://www.2checkout.com/pricing

 

OTHERS include Global pay Nigeria by Zenith bank and interswitch webpay by interswitch if you are a billionaire you can head to those options hmmm lol

SENDING MONEY ABROAD

Send-money-abroad-online

If I wanted to send money to nigeria from Canada for example. If Nigerians had fully functional paypal accounts, all I did have to do is transfer from my paypal to their paypal just like sending an email and I am done. However, sadly this is not the case. The scenario still plays the scene of the receiving person knowing how to open a domiciliary account in Nigeria. He would then choose to open either a gtbbank bank domiciliary account or a first bank domiciliary account [those are the ones I have tested].

After successfully opening domiciliary account how it works is that you get the associated details with it [examples include sort code, routing number] and forward them to the sender. He would then include them into the internet banking platform or to the transaction authorization form giving to him by the bank. This type of transaction is called an FX transaction. FX means foreign exchange.

 

The story may also be how to send money from nigeria to Canada. The use of Canada here is just an example. They are several ways this may be carried out

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TOP METHODS IN EASILY SENDING MONEY ABROAD

 

USMASTERCARD

If you want to pay for school fees this is probably the best way to go about it. Just want into any bank and ask for a us-mastercard. I know it is very easily with Gtbank. You can also tell them you want a dollar denominated mastercard. They may persuade you to just go for the naira one but that sometimes has issues with international payments so be wise.

 

PAYPAL

Head over to their website and sign up[ click here to sign up]. It is a simple process to follow and very secure. It will guide you in the process to connect it to your bank account.

 

VCC CREDIT CARD

I explained in the HOW TO GET A CREDIT CARD IN NIGERIA section just below

 

WESTERN UNION

Just walk into any Nigerian bank run it and ask about its current details [“Oga at the top” matters keeps changing everything lol].

GRAPHCARD

I know you would normally need a graphcard virtual address for the whole thing. You visit their website for full details www.graphcard.com

 

HOW TO GET A CREDIT CARD IN NIGERIA

To buy virtual credit card (I think it is actually a virtual debit card) go to any Gtbank create an account and sign up for internet banking. You would be given something small called a token it cost N1,500 now. If you are not given ask for it. It is what you would use to make the transactions.

 

They would email you your (internet banking details) login details or give you physically. Once you login to their platform (click here to login) then you can order a virtual credit card under the cards section. It would automatically generate the card details. Within the same platform you can load the vcc credit card funds and begin using it.

Ok kindly comment I know I must have missed something

 

 

 

 

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