In Nigeria’s rapidly evolving digital economy, selecting the right payment gateway is crucial for businesses aiming to provide seamless and secure transactions.
With numerous options available, it’s essential to choose a platform that aligns with your business needs.
Here are the top 10 payment gateways in Nigeria for 2025:
1. Paystack
Acquired by Stripe in 2020, Paystack has become a leading payment gateway in Nigeria, known for its user-friendly interface and robust features.
-
Payment Methods: Cards, bank transfers, USSD, QR codes
-
Transaction Fees: 1.5% + ₦100 for local transactions (capped at ₦2,500), 3.9% + ₦100 for international transactions
-
Settlement Time: 24–48 hours
-
Best For: Startups, SMEs, and e-commerce platforms
Paystack’s seamless integration with platforms like WooCommerce and Shopify makes it a preferred choice for online businesses. Website Designer Nigeria+3Newline Tech+3Kashgain+3
2. Flutterwave
Flutterwave offers a versatile payment solution, supporting over 150 currencies and various payment methods.
-
Payment Methods: Cards, bank transfers, USSD, mobile money, PayPal, Apple Pay
-
Transaction Fees: 1.4% for local transactions (capped at ₦2,000), 3.8% for international transactions
-
Settlement Time: Next business day
-
Best For: Businesses targeting both local and international markets
Its scalability and global reach make Flutterwave ideal for businesses looking to expand beyond Nigeria. Cosmopolitan The Daily+3Kashgain+3Unorthodox Digital+3
3. Monnify by Moniepoint
Monnify specializes in facilitating bank transfer payments, offering businesses a reliable and efficient payment solution.
-
Payment Methods: Bank transfers, USSD, mobile banking
-
Transaction Fees: 1% per transaction (capped at ₦500), 1.3% for card transactions (capped at ₦2,000)
-
Settlement Time: Same-day
-
Best For: Businesses focusing on bank transfer paymentsTechibytesNewline Tech
Monnify’s integration with over 27 Nigerian banks and its user-friendly API make it a top choice for developers and fintech startups. Techibytes
4. Remita
Developed by SystemSpecs, Remita is widely used by government agencies and large enterprises for its comprehensive payment solutions.Innovation Village+2kinghost.com.ng+2Wikipedia+2
-
Payment Methods: Cards, bank transfers, USSD, eWallets, QR payments
-
Transaction Fees: 2% per transaction (capped at ₦2,500), additional 2% for international payments
-
Settlement Time: Next business day
-
Best For: Government institutions and large organizations
Remita’s robust features, including bulk payments and payroll management, cater to the complex needs of large entities.
5. Interswitch WebPay
As one of Nigeria’s pioneering payment gateways, Interswitch WebPay offers reliable services for high-volume transactions.
-
Payment Methods: Cards, bank transfers, USSD, QR codes
-
Transaction Fees: 1.5% per local transaction (capped at ₦2,000), 3.5% for international transactions
-
Settlement Time: 24 hours
-
Best For: Banks, large-scale businesses, and government agencies
Interswitch’s extensive network and secure infrastructure make it a trusted partner for large enterprises. kinghost.com.ng
6. VoguePay
VoguePay caters to small and medium-sized businesses, offering flexible payment options and competitive rates.
-
Payment Methods: Cards, bank transfers, mobile wallets, Bitcoin
-
Transaction Fees: 1.5% for local transactions, 3.5% for international transactions
-
Settlement Time: 1–3 business days
-
Best For: Freelancers and subscription-based servicesReuters
Its support for cryptocurrency payments and subscription billing makes VoguePay a versatile choice for modern businesses.
7. OPay
OPay offers a mobile-first payment solution, focusing on providing services to underserved markets.
-
Payment Methods: Mobile app, POS, bank transfers
-
Transaction Fees: 1% per transaction (capped at ₦50)
-
Settlement Time: Instant
-
Best For: Small businesses and rural areasWebsite Designer Nigeria+1Reuters+1Unorthodox Digital+4kinghost.com.ng+4Reuters+4
With its strong agent network and instant settlement feature, OPay is ideal for businesses in areas with limited banking infrastructure.
8. SeerBit
SeerBit provides customizable payment solutions, allowing businesses to tailor their payment processes.
-
Payment Methods: Cards, bank transfers, POS, mobile money, USSD
-
Transaction Fees: 1.5% for local transactions, 3.8% for international transactions
-
Settlement Time: Next-day
-
Best For: Businesses seeking tailored payment solutions
SeerBit’s white-label options and support for multiple currencies make it suitable for businesses with specific payment needs.
9. Squad by GTCO
Squad offers seamless integration with GTBank accounts, providing efficient payment solutions for GTBank customers.
-
Payment Methods: Cards, USSD, bank transfers
-
Transaction Fees: 1.5% per local transaction
-
Settlement Time: Fast
-
Best For: Businesses using GTBank as their primary financial institution
Its integration with GTBank services ensures a streamlined payment process for businesses within the GTBank ecosystem.
10. VelvPay
VelvPay is gaining popularity for its tailored solutions for local businesses, offering invoicing tools and developer-friendly APIs.
-
Payment Methods: Cards, bank transfers
-
Transaction Fees: 1% for local transactions; flexible fees for international transactions
-
Settlement Time: Quick
-
Best For: Local businesses, freelancers, and e-commerceUnorthodox Digital+2The Lifestyle Depot+2kinghost.com.ng+2
VelvPay’s focus on local businesses and freelancers makes it a suitable choice for those seeking straightforward payment solutions.
Comparative Overview
| Gateway | Local Fees | International Fees | Settlement Time | Best For |
|---|---|---|---|---|
| Paystack | 1.5% + ₦100 (₦2,500 cap) | 3.9% + ₦100 | 24–48 hours | Startups, SMEs |
| Flutterwave | 1.4% (₦2,000 cap) | 3.8% | Next business day | Global businesses |
| Monnify | 1% (₦500 cap) | 1.3% (₦2,000 cap) | Same-day | Bank transfer-focused businesses |
| Remita | 2% (₦2,500 cap) | +2% | Next business day | Government, large organizations |
| Interswitch | 1.5% (₦2,000 cap) | 3.5% | 24 hours | Banks and high-volume businesses |
| VoguePay | 1.5% | 3.5% | 1–3 business days | Freelancers, subscription services |
| OPay | 1% (₦50 cap) | N/A | Instant | Micro-businesses, rural merchants |
| SeerBit | 1.5% | 3.8% | Next-day | Custom payment solutions |
| Squad | 1.5% | N/A | Fast | GTBank users and retail businesses |
| VelvPay | 1% | Flexible | Quick | Freelancers and local e-commerce |
Conclusion
Choosing the right payment gateway in Nigeria can make or break your business’s online success—especially in 2025 when consumers expect speed, flexibility, and security.
-
If you’re a startup or SME, Paystack and Flutterwave offer seamless integration, fast settlements, and robust support for both local and international transactions.
-
For enterprise-level businesses or government bodies, Remita and Interswitch provide the security and features necessary for large-scale operations.
-
Looking to minimize transaction fees on bank transfers? Monnify is hard to beat.
-
For freelancers, VelvPay and VoguePay offer great flexibility and ease of use.
-
If your audience is in underserved or rural areas, OPay shines with instant settlements and a wide agent network.
Ultimately, the best payment gateway for your business depends on your target audience, transaction volume, preferred payment methods, and how fast you need your money. Always weigh the fees, settlement time, ease of integration, and customer support before deciding.
Need help choosing or integrating the right payment gateway for your Nigerian business?
Click here to talk to our team and get started today!
