Best Payment Gateway In Nigeria For International Transactions (No Setup Fee)

This article focuses on the best payment gateway in Nigeria for international transactions, check out their charges, fees and how to get started.

Best Payment Gateway In Nigeria

It's no longer news that billions of customers now make purchases online which account for the massive traffic growth companies like Amazon, eBay, ASOS, Zappos, among other top online retailers, receives on their websites every day.

For a typical small or growing business in Nigeria to take advantage of this global opportunity to drive revenue in US dollars, there is a need for it to have a dependable e-payment processor that can handle online payment efficiently. The challenge now for SMEs is that most of the international payment gateway providers are very expensive; some of them require registration fee while others do not, transaction fees are high as exchange rate surges to the roof. I have come across some that are cheaper and merchant friendly but they come with legal restrictions, from countries allowed to fund transfer limits.

Does this now mean one cannot sell successfully to foreign customers, and accept international cards on one's website or online store? you can, besides, there are safe and secure payment gateways in Nigeria tailored to service SMEs that want to accept payment or credit cards from their customers abroad.
In this list, I will be sharing the best payment gateways in Nigeria for collecting local or international debit or credit cards, based on web popularities and user experience, which you can integrate on your website or store.

These e-payment and transaction processing platforms powered by Nigerian developers have been carefully selected based on the following metrics:
  • Easy integration workflow and documentation
  • Fast responding and Technical support
  • Usage and level of acceptability
  • Free setup,  convenience and setbacks
  • Setup fees and charges
  • Vulnerability (security)
  • Compatibility with Banks
  • Online reputation (review) and popularity

Best Payment Gateway In Nigeria For International Transactions:

  1. Paystack
  2. AmplifyPay
  3. VoguePay
Like I mentioned earlier, these three payment processors make international transaction flexible as you don't need the complexities or high-tech skill before integrating their gateway into your website or online store.

To get started, you need to register via the "Sign Up" or "Get Started" icon and fill in your business information and bank details.

On transaction fees  charges, here are what you should know:
AmplifyPay charges N20 +1.5% with N2000 cap fee on local cards while international transaction charge is N20 + 3.8%. You will be debited by N100 on any settlement to your registered bank account.

Paystack also charges N100 + 1.5% with N2000 cap fee on local payments while N100 + 3.9% is charged on international cards. You won't pay the N100 fee on transaction value above N2500.

For merchant doing huge transaction volume above N2,000,000, you can talk to Paystack team at hello@paystack.com.
VoguePay has the best coverage as they are not restricted to Nigerian merchants, global merchants from different countries are also welcome.

Voguepay transactions charges: Nigeria

For personal account:
  • Merchant fee: Free
  • Merchant verification: Not Required (N1,500 for merchants who require international wallet Funds Transfer Services)
  • Transaction fee:
    • Naira Cards - 1.5% ( Transactions above N2500 will be charged at 1.5% + N30)
    • USD MasterCard & VISA Card – 4.5%
    • No Gateway Fees Applicable
  • Withdraw money: 0.99% + N99
  • Wallet fund transfer (local): 1%
  • Wallet fund transfer (international): 1.5% + N1,000
  • Integration: Free  (Fee may apply for customised Integration)
For business account:
  • Merchant fee: free
  • Transaction fee:
    • Naira Cards - 2.5%
    • USD MasterCard & VISA Card – 4.5%
    • (No Gateway Fees Applicable)
  • Withdraw money: 1% + 120 Naira
  • Wallet fund transfer (local): 1%
  • Wallet fund transfer (international): 1.5% + N1,000 per mill
  • Integration: Free (Fee may apply for customised Integration)

Voguepay transactions charges: Other countries

For personal account:
  • Opening account: free
  • Merchant: free
  • Merchant verification: Not Required ($4.99 for merchants who require international wallet Funds Transfer Services)
  • Transaction fee:
    • USD MasterCard & VISA Card – 3.8% + 0.5% (0.50 of the currency of transactions e.g 0.50USD, 0.50GBP or 0.50EUR
    • Nigerian Naira Cards - 2.5%
    • (No Gateway Fees Applicable)
  • Withdraw money: 1.5% + $ 5.00 (Minimum withdrawal amount is $1,500)
  • Wallet fund transfer (local): 1.5%
  • Wallet Funds Transfer (international): 1.5% + $5.00
  • Integration: free
For business account:
  • Opening account: free
  • Merchant: free
  • Merchant verification: $19.99
  • Transaction fee:
    • USD MasterCard & VISA Card – 4.5%
    • Nigerian Naira Cards - 2.5%
    • (No Gateway Fees Applicable)
  • Withdraw money: 1.5% + $ 5.00 (Minimum withdrawal amount is $1,500)
  • Wallet fund transfer (local): 1.5%
  • Wallet Funds Transfer (international): 1.5% + $5.00 per $5,000 dollars transferred
  • Integration: free
Do you know any other best payment gateway in Nigeria for international transactions and have integrated their portal into your website? please share your experience.