As companies aim to grow online, the real challenge pops up – finding a smooth way for customers to pay. The idea of free payment gateways sounds great, but guess what? Most of them hit you with big transaction fees, wiping out any savings.

Our advice? Forget the “free” hype. We’re all about finding you the smartest and cheapest online payment gateways that save you money in the long run.

This guide spills the tea on the 10 most affordable online payment gateways in Nigeria. We get it, every business is different. That’s why we’re here with tailored tips to fit your needs. By breaking down these payment options, we’re making sure your business sails smoothly through the online payment maze.

Cheapest Online Payment Gateways For Small Businesses and Startups

1. Paystack: Empowering the Newbies

Paystack is a promising gateway for startups and small businesses looking to establish their online presence. While it’s not entirely fee-free, its transaction fees are reasonable considering the array of features it offers.

Paystack’s transparent pricing structure includes a 1.5% charge on local transactions and a 3.9% fee for international transactions, along with a flat fee of ₦100 for local transfers.

The compliance aspect of Paystack ensures that your transactions are conducted securely and in accordance with relevant regulations. Its anti-fraud measures and data security protocols give you and your customers peace of mind during every transaction.

When it comes to customer support, Paystack shines with its responsive team that assists users in resolving issues and navigating the platform effectively. Moreover, Paystack has garnered a positive customer score, reflecting its reputation as a reliable payment gateway in Nigeria.

2. Flutterwave: Your Partner in Growth

Flutterwave‘s comprehensive services make it a strong contender for small businesses seeking growth. While not entirely fee-free, its pricing structure is competitive. Flutterwave charges 1.4% + ₦50 for local transactions and 3.8% + ₦50 for international transactions. These charges might be outweighed by the convenience and features Flutterwave offers.

Compliance is a priority for Flutterwave, ensuring your transactions are conducted in line with industry standards. Its customer support team is dedicated to assisting users promptly and helping them navigate the platform effectively.

3. VoguePay: More Than Payments

VoguePay offers more than just payment processing, making it attractive to startups and small businesses looking for versatile tools. While it charges 1.5% + ₦25 for local transactions and 3.8% + ₦25 for international transactions, its additional functionalities and user-friendly interface provide value beyond these fees.

VoguePay’s compliance measures contribute to secure transactions, and its customer support aids users in resolving any concerns. The platform has garnered positive customer feedback, attesting to its reliability.

For Medium-Sized Businesses

1. Interswitch WebPay: Scaling Up Securely

Interswitch WebPay is designed to accommodate the growth of medium-sized businesses. Its compliance measures ensure secure transactions, and its transaction fees, which vary based on the business’s negotiated terms, are justified by the features it provides.

Customer support is an integral part of Interswitch’s service, aiding users in resolving issues promptly. Its established reputation and customer score reflect its position in the market.

2. Remita: Government-Grade for Businesses

Remita, known for its government transactions, caters to medium-sized businesses seeking reliability. While its transaction fees are not entirely absent, they are aligned with the services it offers.

Remita’s compliance measures are built to adhere to regulations, and its customer support provides assistance when needed. Its reputation and track record contribute to its positive customer score.

For Large Enterprises

1. Rave by Flutterwave: Global Reach, Local Compliance

For large enterprises with international operations, Rave by Flutterwave offers multi-currency support and compliance measures that align with global standards. Its transaction fees, such as 1.4% + ₦50 for local transactions and 3.8% + ₦50 for international transactions, are balanced by its extensive features.

Customer support ensures seamless integration, and Rave’s reputation among users contributes to its positive customer score.

2. Barter by Flutterwave: Streamlined Finance Management

Barter by Flutterwave streamlines financial management for large enterprises. Its fees, which include 1.4% + ₦50 for local transactions and 3.8% + ₦50 for international transactions, are justifiable due to the range of features it offers.

Compliance and customer support contribute to Barter’s reputation, reflected in its customer score.

3. Carbon: A Comprehensive Financial Ecosystem

Carbon, previously Paylater, offers a comprehensive financial ecosystem for large businesses. Its fees, such as 1.5% for payments to Carbon users and 3.5% for charges to non-Carbon users are part of its value proposition.

Carbon’s compliance, comprehensive features, and customer support contribute to its reputation and positive customer score.

Also Read: Simplifying Transactions: A Guide to Payment Gateway Providers

The bottom line is to make an informed choice

When choosing an online payment gateway, it’s essential to consider compliance, customer support, customer score, features, payment options, and, of course, pricing. While completely fee-free options might not be available, these carefully selected gateways offer the best value for your investment.

In the end, it’s not just about finding the cheapest option; it’s about finding the right fit for your business’s growth and success. Each of these gateways brings its own strengths to the table, ensuring that your online transactions are secure, efficient, and aligned with your business goals.

So, explore these options, weigh the pros and cons, and make an informed choice that propels your business into the digital age with confidence.