Payment is an essential factor required for the success of any international trading activity.

Online payment has become common among traders, entrepreneurs, and business people who offer goods and services to consumers.
Before launching your online business, you should arrange for the payment, delivery, and logistics of your products. If you have an eCommerce store or an online presence for your business, you will likely be patronized by prospective buyers outside your base or location. Payment gateways are the companies or platform that processes and facilitates the payment made for products, goods, and services.

A good payment gateway ensures a safe, smooth, and secure way to make payment for goods on online stores and platforms. For instance, if you export charcoal to other countries, you may face challenges in receiving payment because you will receive payment in different currencies from your customers. But an international payment gateway solves the problem by helping you collect payment from your clients & customers in various currencies and help you convert or receive the money in your local currency.
Without mincing words, here are some of the best international payment gateways available for you to use in Nigeria.

1. PayStack
Paystack is one of the finest tech companies in Nigeria. This fintech company provides small and big business enterprises with all tools required to receive and make online payments.
It is simple to use, secure, and affordable for all businesses – whether, small, medium, or large-sized businesses. You can integrate Paystack on your business or company website in a matter of minutes and start accepting payments from your customers. Companies such as God Is Good Motors (GIGM), MTN Nigeria, Domino’s, and Iroko TV use Paystack to accept payment on their website.
Their charges are as follows:
Setup fee: Free.
Maintenance fee: None.
Local transaction charge: 1.5% + ₦100 (The 100 Naira fee is waived for all transactions below ₦2500).
International Transactions: 3.9% + ₦100.
Payouts: ₦50 per transaction.

2. Flutterwave
Flutterwave is an international payment gateway that accepts debit and credit card payments from a customer in more than 150 countries. Flutterwave supports all cards including (MasterCard, Verve & Visa), so your customers can conveniently make payments from their bank accounts on your website. Setting up Flutterwave is free and simple to use, they charge 1.4% + ₦50 on local cards and 3.5% + $1 on international cards.

3. VoguePay
VoguePay ensures safe and secure online payment across Nigeria. This payment gateway can help you send and receive payment in various currencies. Moreover, VoguePay also processes payment in Bitcoin. You can set up one-time payments, subscriptions, and donations with this payment processing company.
Their charges are as follows:
Integration fee: Free, but fees vary depending on the customization.
Local transactions fee: 1.5% on transactions above ₦2,500.
International transactions fee: (USD Visa and MasterCard) 3.8% + 0.50 of transaction.
Merchant Verification fee: ₦ 1,500 (with CAC Registration) and ₦ 2,500 (with Government-issued ID cards).

4. CashEnvoy
CashEnvoy employs security features on its platform for theft. This is the only Nigerian payment gateway on the Shopify platform. Cashenvoy accepts local and international payment in Interswitch, Visa, MasterCard, and eTranzact cards. Their charges are as follows:
Money Transfers: To Business Account only (Free).
Withdrawals: ₦120.00 fee for withdrawals of ₦4,000.00 below.
Receive Funds: 1.5% + N25.
International Cards: 3.9% + N12.60.

5. InterSwitch
InterSwitch is one of the oldest and largest payment service providers in Nigeria. Interswitch has operated for many years and they are trusted in terms of processing payments across Africa. Generally, it is used by big companies including financial institutions. This company facilitates the electronic exchange of money between individuals as well as corporate entities.
Their charges are as follows:
One-time integration fee: ₦150,000.
Transaction fee: 1.5% subject to a cap of two thousand naira. ₦2,000 is charged. For instance, transactions less than ₦133,333 attract a 1.5% fee while transactions above ₦133,333 attract a flat fee of ₦2,000.

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