If you're here, you're at a crossroads. You've been searching for the right payment gateway for your business, or you're looking for alternatives that better fit your business needs.

Selecting a payment gateway can be tricky. You need to consider pricing, ease of integration, access to support, and specific features like pay-ins and payouts. It's often confusing for even the most experienced business owners, engineers, and product managers.

Instead of following the crowd, this guide highlights popular payment gateways you can choose from. You'll learn about their history, the payment channels they offer, and their pricing models.

We aren't ranking these gateways. Instead, think of this as a menu to help you choose the solution that fits your specific business appetite.

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What to consider when choosing a payment gateway for your Nigerian business

1. Level of technology need

Some businesses require heavy API integrations, while others just need no-code tools like Payment Links to accept payments instantly. The resources you have should determine your choice.

If your business requires extensive customisation, choose a solution with robust API capabilities. However, if you lack technical expertise, look for gateways that offer low-code or no-code solutions to get you started quickly.

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2. Ease of integration and API documentation

Speed is everything. You don't want your developers wasting time on integration. Consider these three factors:

• Readability: Is the documentation easy to understand? Are there clear examples?
• Accuracy: Does the code work exactly as promised?
• Searchability: Can your team find answers quickly?
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3. Access to support

Many people overlook support until they face a crisis after going live. Downtime happens, but you don't want a support team that goes silent when it does.

Prioritise solutions that provide active support during and after integration. You need a partner who communicates clearly when things go wrong.

4. Pricing transparency

You need to know exactly what you're paying for. Ask yourself: Will these fees hurt my profit margins? Can my customers afford them?

Watch out for the fee structure. Providers charge differently—some use flat rates, while others take a percentage of every sale. Some may even charge you for having an inactive account.

Avoid surprises. Meaningful costs like setup fees, currency conversion rates, or settlement charges often hide in the fine print. A trustworthy partner is open about pricing from day one.

5. Payment channels

Bank transfer is the most dominant payment channel in Nigeria. Ensure any payment gateway you select supports bank transfers and other flexible payment channels your customers prefer.

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8 payment gateways best for online business in Nigeria

1. Kora: One payment gateway for all your needs

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If you’re building in Nigeria, you’ll probably have to juggle multiple providers for payments, Identity, issue virtual cards, make payouts and even settlements.

Kora is built for businesses who need everything in one suite. Instead of managing multiple relationships and integrations, you access everything through a single API that just works.

• Pay-ins for collections
  Nigerian customers are diverse in how they want to pay, and Kora handles them all. Accept payments via bank cards, direct bank transfers from any Nigerian bank, and mobile money wallets, including OPay and PalmPay. One particular integration businesses and payment aggregators might find useful is an API that bundles OPay and PalmPay into one single integration, saving you time on integration. For businesses without engineering resources, Payment Links let you start collecting payments immediately with zero coding.
  

• Payouts for disbursements: Single and Bulk
  After collecting payments, you might need to make payouts to your customers. But managing it can get quite complicated, especially if you have to use spreadsheets or do it one transaction at a time. Kora's infrastructure handles instant disbursements to any Nigerian bank account or mobile wallet, whether you're paying one person or thousands in bulk.
  
  
• Enterprise-grade security
  Kora maintains PCI DSS compliance alongside ISO 27001 and ISO 22301 certifications. Multi-factor authentication, data encryption, and real-time AML monitoring protect every transaction. This means you can focus on growth without overthinking security.
  
  
• Support whenever you need it
  What truly sets Kora apart is comprehensive support throughout your growth journey. During integration, the merchant success, technical support, sales and compliance teams are always there to guide you through the process.
  
  
• Pricing
  Kora offers a quote-based pricing. The pricing is customised to fit your business needs, so you don’t overpay for our services.
  
  
• Who is Kora best for?
  Kora is best suited for digital businesses that don’t want to switch between different dashboards for various solutions. If you want to accept online payments but also need a KYC solution, virtual card issuing, and other services under one roof, choose Kora.
  
  
• Payment channels supported in Nigeria
  Bank Transfer
  Cards
  Pay-with-bank
  Mobile Money

2. Monnify

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Monnify, built by Moniepoint (TeamApt), is one of Nigeria's best payment gateways. As the company behind Nigeria's largest agent banking network, Moniepoint understands Nigerian payment behaviour deeply. It also powers other fintechs in the ecosystem.

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Why do they stand out

• Speed and reliability focus
  What sets Monnify apart is its focus on transaction speed and reliability, achieving over 99.8% success rates for interbank transfers—building on Nigeria's preference for bank transfers over cards.
  
  
• Complete payment method coverage
  The platform supports all major Nigerian payment methods, including cards (Verve, Visa, Mastercard), bank transfers, and virtual accounts, with flexible, dynamic or unique account numbers for businesses.

• Offline payment capabilities
  Their offline payment features enable businesses to collect cash payments through Moniepoint's extensive agent network, utilising POS terminals to reach customers in remote locations across Nigeria.
  
  
• Technical capabilities
  The platform provides both web and mobile SDKs for easy integration, comprehensive API documentation, and a fully functional sandbox for testing endpoints.
  
  
• Pricing
  Bank transfers: 1.5% fee capped at ₦2,000 per transaction OR ₦500 flat rate for account transfers
  Cards: 1.5% capped at ₦2,000 per transaction
  Zero setup fees, zero maintenance costs, no hidden charges

• Payment channels supported in Nigeria
  Bank Transfer, Cards (Verve, Visa, Mastercard), USSD, Virtual Accounts

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3. Paystack

Paystack is one of Nigeria's most developer-loved payment gateways, processing significant transaction volumes since being acquired by Stripe in 2020 for over $200 million. It was the first Nigerian company accepted into Y Combinator in 2016. The platform reached a milestone of processing ₦1 trillion in transactions in a single month.

Why do they stand out

• Outstanding developer experience
  Developers swear by Paystack because of the level of developer-facing initiatives it offers. Nigerian businesses, especially e-commerce businesses, choose Paystack because of its extensive plugins for popular e-commerce platforms and reliable webhook systems.
  
  
• Complete payment method support
  Paystack supports all Nigerian payment methods: cards, bank transfers, USSD, mobile money, including OPay integration, and QR codes. In addition, they also support Pay with Zap, their own bank transfer app.
  
  
• Strong transaction processing
  The platform reached a milestone of processing ₦1 trillion in transactions in a single month (July 2024), demonstrating its scale and reliability in the Nigerian market.
  
  
• Fraud protection and analytics
  Paystack's combination of automated and manual fraud systems protects businesses from fraudulent transactions and associated chargeback claims. Robust analytics dashboard helps understand customer purchase patterns.
  
  
• Pricing
  Starting at 1.5% + ₦100 for local transactions.
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• Payment channels supported in Nigeria
  Cards, Bank Transfer, USSD, Mobile Money, QR Codes, Pay-with-bank, Vault and Zap.

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4. Flutterwave

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Flutterwave is one of the first payment gateways in Nigeria to expand rapidly across Africa. It’s also known for supporting and being the infrastructure for other fintechs and businesses in Nigeria. Furthermore, they also develop consumer-facing products, such as Send, which enables remittances to Nigeria.

Why do they stand out

• International payment capabilities
  Flutterwave processes payments in over 30 currencies and supports international cards, making it the go-to choice for Nigerian businesses with global customers. Major international clients include Uber, Booking.com, and Wise.
  
  
• Cross-border commerce solutions
  They heavily support cross-border payments, making them particularly valuable for export businesses and Nigerian companies expanding globally.
  
  
• Local Nigerian payment support
  For Nigerian payments, Flutterwave supports cards, bank transfers, mobile money, and payment links.
  
  
• No-code solutions
  Flutterwave Store provides a no-code e-commerce platform for businesses that want to start selling online without technical development.
  
  
• Pricing
  2% for local transactions (1.4% transaction fee + 0.6% platform fee) as of December 2025. For international transactions, they charge 4.8% per transaction.
  
  

• Payment channels supported in Nigeria
  Cards, Bank Transfer, USSD, Mobile Money, Payment Links, and POS. 

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5. Squad

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Squad is the fintech arm of Guaranty Trust Holding Company (GTCO), launched in June 2022 through HabariPay to combine traditional banking credibility with modern payment API technology. Their soft POS product which allows you to turn your phone into a POS device is particularly groundbreaking.

Why do they stand out

• Banking heritage advantage
  This unique positioning gives Squad immediate trust among Nigerian businesses familiar with GTBank's reputation and provides access to robust banking infrastructure and regulatory compliance expertise.
  
  
• Comprehensive payment solution
  The platform targets both small businesses and large enterprises with support for cards, bank transfers, USSD, virtual accounts, and POS devices for in-person transactions.
  
  
• No-code payment options
  ‍Their payment links feature allows businesses to start collecting payments immediately without technical integration, plus invoicing capabilities and accounting software integrations.
  
  
• Enterprise security and stability
  What differentiates Squad is the backing of GTCO's banking infrastructure, meaning enterprise-grade security, robust compliance, and the ability to offer additional financial services as businesses grow.
  
  

• Pricing
  Payment gateway fees capped at ₦1,500, virtual account fees capped at ₦1,000.
  
  
• Payment channels supported in Nigeria: Soft POS, Cards, Bank Transfer, USSD, Virtual Accounts. 

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6. Interswitch

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Founded in 2002, Interswitch is the pioneer of digital payment infrastructure in Nigeria. They’re your payment gateway’s gateway. Over 31,000 leading African businesses trust their payment gateway.

They provide the tools to receive and manage web payments from any channel or platform.

Why do they stand out

• Payment versatility
  You can collect payments via any channel your customer prefers, including USSD, local and international cards (Verve, Mastercard, and Visa), bank transfers, and QR codes.
  
  
• Split payments
  This is a major feature for marketplaces. You can split revenue from a single payment into different accounts automatically, even by percentage.
  
  
• Hosted fields
  This allows you to customise the look and feel of your payment gateway without needing to integrate directly with Interswitch’s full payment API.
  
  
• Refund API
  They offer a specific API to handle customer refunds while maintaining a clean record
  
  
• Transaction Security
  They utilise double-factor authentication and best-in-class security technology to mitigate fraud.
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• Pricing: Quote-based.

• Payment channels supported in Nigeria
  Cards, USSD and Bank transfers.

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7. OPay

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OPay started out as a wallet and an offline POS service that enabled payments for consumers. Then it built its payment gateway, providing a closed-loop ecosystem where accepting payments is faster and often more reliable.

Why do they stand out

• Ecosystem advantage
  Their deep market penetration allows you to tap into millions of active wallets for high transaction success rates.
  
  
• Developer tools
  They provide native mobile SDKs for both Android and iOS, making in-app integration seamless.
  
  
• Plug-and-play plugins
  You can integrate their gateway into stores like WooCommerce, Shopify, and Magento 2 without writing code.
  
  
• No website needed
  Their shareable links feature allows multiple people to pay via the same link, which is perfect for sales on WhatsApp or Instagram.
  
  
• Flexible invoicing
  The platform supports quick, single, and bulk invoicing to help you track payments easily.
  
  
• Pricing
  1.5% per local transaction capped at N2000International transactions: 4% per transaction.
  Payout/Transfer (OPay wallet): N5 per transaction.
  
  Payout/Transfer (other banks/MMOs):
  - N5,000 and below/N10 per transaction.
  - N5,001 and N50,000 - N25 per transaction.
  - N50,000 and above - N50 per transaction.
  Bill payment based on commission

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8. Fincra

Fincra positions itself as a robust solution for businesses that need to look beyond Nigeria. They combine strong local payment capabilities with infrastructure designed for global commerce.

Why do they stand out

• Multi-currency virtual accounts
  This is their flagship feature. You can issue named virtual accounts in USD, EUR, GBP, and NGN to your customers. This allows you to collect payments globally and settle them without the usual headaches of international banking.
  
  
• Sell without a website
  You don't need a technical team to get started. Their Payment Links allow you to close sales on social media, via email, or chatbots with just a few clicks.
  
  
• Developer-first APIs
  For those who need more control, Fincra offers a complete suite of APIs for Pay-Ins, Pay-Outs, and Identity Verification. They explicitly state there is "no development cost" to start building, and they provide dedicated support for integration.
  
  
• Checkout customisation
  Their checkout flow is prebuilt but fully customisable, allowing you to tweak colours, fonts, and shapes to match your brand identity while reducing purchase friction.
  
  
• Pricing
  Quote-based.
  
  
• Payment channels supported in Nigeria
  Cards, Bank Transfer, Virtual Accounts, Mobile Money

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How Kora enables businesses to accept online payments

Accepting payments in Nigeria shouldn't mean juggling five different integrations. Kora unifies everything into one engine that just works.

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With Kora, you can accept payments with cards and bank transfers which are the basics. Our Pay with Bank API directly integrates with OPay and PalmPay, giving you instant access to over 70 million users. This boosts collection success rates as customers pay directly from their preferred wallet.

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For businesses expanding across Africa, we have unlocked payments in Ghana, Kenya, Côte d'Ivoire, Cameroon South Africa, and Egypt.

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Don't have a technical team? Our Payment Links and Checkout pages enable you to start selling immediately without writing any code. Kora provides a seamless, branded experience that reduces failed transactions and widens your payment options which gives your customers the freedom to pay exactly how they want.

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Frequently asked questions

What is a payment gateway?

A payment gateway is a digital service that securely processes online payments between customers and businesses. It acts as the bridge connecting your website or app to banks and payment networks, handling the encryption and routing of transaction data to ensure safe, real-time payment processing. Think of it as the digital equivalent of a card reader in a physical store – it captures payment information, verifies it with the bank, and confirms whether the transaction is approved or declined.

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Does Kora accept debit cards (Visa, Mastercard and Verve)?

Yes, Kora accepts card payments. We support all major payment methods including cards, bank transfers, mobile money, virtual accounts, and Pay-with-Bank options. We process both local and international cards, making it suitable for businesses serving global and local inAfrica.

Which is the best online payment gateway?

The "best" payment gateway depends entirely on your specific business needs. 

• For pan-African expansion: Kora's continental reach and unified API make it ideal for businesses scaling across multiple African countries. You should consider Paystack and Flutterwave too. 
• For developer-focused startups: Paystack excels with its exceptional API documentation and developer tools. 
• For international businesses: Kora is fantastic for global businesses too who want to expand to Africa and for African businesses who want to expand beyond Africa. 

Do I need to learn how to code to use a payment gateway?

No, you don't need coding skills to start accepting payments. Most Nigerian payment gateways like Kora offer no-code solutions:

• Payment Links: Create shareable links for one-time or recurring payments without any technical setup
• Hosted Checkout Pages: Ready-made payment forms you can direct customers to
• E-commerce Plugins: Pre-built integrations for popular platforms like WordPress, Shopify, and WooCommerce

However, for custom integrations and advanced features, technical implementation through APIs provides more control and better user experience. Most providers offer both no-code solutions for quick setup and developer-friendly APIs for custom builds.

Is it easy to integrate with Kora?

Yes, Kora is designed with both developers and non-technical users in mind:

• No-code options: Payment Links allow you to start collecting payments immediately without any integration
• Low-code solutions: Kora Checkout provides embeddable payment forms with minimal technical setup
• Developer-friendly: Comprehensive API documentation, simple integration scripts, and webhook support for custom implementation

Does Kora offer support for businesses?

Yes, Kora provides comprehensive business support:

• 24/7 Customer Support: Round-the-clock assistance
• Dedicated account management: Businesses can contact their sales team for personalised guidance
• Technical documentation: Extensive API documentation and developer resources
• Startup Kit: A curated directory of discounted services for businesses launching in Africa, including branding, compliance, cloud services, and more
• Implementation support: Their support engineers help with technical changes and API implementations when businesses lack in-house technical capabilities