Tips to choose the right payment gateway in Nigeria in 2024 (Paystack vs Flutterwave)

Selecting a payment gateway for your website is a crucial step in launching any online business. Currently, the two leading payment processors in Nigeria are without a doubt Paystack and Flutterwave.

Since technology has advanced so quickly in recent years, financial transactions have gotten easier and have transcended simple physical buying and selling. Nowadays, all you need to buy or sell is your mobile phone or computer system while lounging in your room.

In Nigeria, Paystack and Flutterwave started out as online payment gateways, but they have subsequently expanded to become much more. These two payment gateways are the most trustworthy and well-liked options for choosing an electronic medium for e-commerce by enterprises, organizations, and entrepreneurs in Nigeria.

The discussion about which is best in Paystack and Flutterwave has been going on for a long time, and both sides claim their product is superior to the other. In this Paystack vs. Flutterwave comparison, we’ll examine the features of both platforms, compare them, and help you choose which one to employ according to your unique requirements.

Which is better, Paystack or Flutterwave?

Although there is no need for a disparity between these 2 platforms because both businesses excel at what they do, let’s learn a little bit more about each and compare their offerings.


With the bold statement that “If a transaction fails on Paystack, it’s doubtful it’ll work anywhere else,” Paystack brags about having the highest transaction success rates in the sector. Well, they may be right about this.

The internet banking system provided by Paystack Payments Limited enables people to swiftly and simply make payments for products and services online.

It is an extensive interface package that enables businesses to accept and incorporate any form of payment into their web platform.

  • It takes just a few minutes to set up Paystack, which is one of its main advantages.
  • Users of Paystack are able to receive payments from clients both domestically and abroad.
  • Using their service is free of any setup fees or ongoing charges.
  • If necessary, you can set up regular reimbursements and payments every month.
  • Additionally, you may modify an existing purchase whenever you want without having to resubmit it or ask for the customer’s most recent details.
  • Businesses in Nigeria are the only ones who can currently use Paystack.
    To accept payments from your clients, your firm must be registered with the Corporate Affairs Commission.
    On Paystack, you can only get a certain amount if your company isn’t registered.
  • It’s possible that Paystack won’t permit your merchants to receive payment.
  • Paystack communicates ineffectively. Customers must first get in touch with Paystack support if there are issues with their profile before receiving a response.


On the other hand, Flutterwave is an African financial processing firm that provides merchant accounts for online and offline marketing to organizations, companies, and people in Nigeria.

Anyone may take payments or money using credit or debit cards, bank transfers, USSD, and POS thanks to Flutterwave.

By creating digital dollar cards, you can also utilize Flutterwave to make online payments.

  • It supports mobile devices.
  • Customers can view the product photographs to see what they’re purchasing.
  • Whenever you place an order, Flutterwave Store quickly tells you.
  • Foreign and domestic firms can conduct transactions in several currencies using Flutterwave.
  • The prices are reasonable and inexpensive.
  • Currently, it does not have a Point of Sales (POS) device.
    Customers must enter their bank information each time they wish to pay for goods or services because there is no one-click payment option available.
  • It experiences technological issues such network transaction failures and issuer errors.
  • Banks in the area makes withdrawals easier.
  • They don’t provide their services across all of Africa, as well.

Paystack Vs Flutterwave

PricingLocal: 1.5% + NGN 100 per transaction
International transactions: 3.9% + NGN 100 per transaction.
Local: 1.4% per transaction.
International transaction: 3.8% per transaction
SecurityPayment Card Industry Data Security Standard (PCI DSS) certified.Payment Card Industry Data Security Standard (PCI DSS) certified.
Payment processing modeSupports Card, Bank Account, Bank Transfer, USSD, Visa QR, and Mobile Money Supports Cards, Bank accounts, Bank Transfers, USSD, and Mpesa
Platform integrationCompatible with numerous systems and global brands like Shopify, Amazon, etc. Compatible with numerous systems, including Shopify, Sage, Xero, Quickbooks by Intuit, Zoho, and Squarespace.
InvoicesIt makes it simple for users to submit invoices to clients, which contributes to the payment acceptance process having a professional feel.It enables users to send invoices to clients in many currencies quickly, which enhances the payment acceptance process’ professional appearance.

Both Paystack and Flutterwave have shown that their payment processing systems have maintained a high level of consistency over time. It is challenging to decide between them because of their competitive price.

You can opt to use one of the two firms based on your preferences after reading this article about the two major payment companies in Nigeria. Both companies are good and have their distinctions while providing the same goal.