Anyone has any idea how much interswitch charges for an internet merchant account and what their fees per transaction are?

The last time I made enquiries, it was going for N150,000. Hope this helps. By the way, you can always contact Pekun Famoroti ([email]pfamoroti@interswitchng.com[/email]) who's in the Business Solutions Group. You could also call him on phone: +234-1-4739101, 4616299, Ext 1401. Alternatively, you could check the web site: http://www.interswitchng.com/product.asp?id=7

Wow, timba, your post is loaded with useful information. Thanks for sharing!

can this interswitch guys help someone in nigeria get a paypal account?

No, all they have is an alternative to Paypal for those who have bank accounts in Nigeria.

Is 150,000 a one time payment?

They aren't good enough jo.
I have a close friend who has used there services and was so pissed he terministed his dealing with them.
And their services are limited to switching. and you must use a PC before you can make transactions
I personally prefer etransact and i have been having feelers that they are much more flexible than interswitch.
youcan check their website here www.etranzact.com

i thought e-transact could not be used for online payments

rock2:

i thought e-transact could not be used for online payments

lmao! It can be used for all anner of payments. Online, POSs and even mobile.
They are the best now in the country. I heard they are now moving into other countries in africa and americas.
for online payments, i know they are on www.acn.aero and www.computerport.biz if i remember rightly

come is it that the people from nopestco are trying to collect the money they owe people via interswitch. because how can any normal company or human being charge $1,500.00 (one thousand five hundred dollars) just for a bill payment and debit card account (e-transact). the new alhaji thats in charge of interwitch should be sacked, thier office should be burnt down.

it should not cost more then $100.00 (i.e ten thousand naira) as a one time fee. Or $10 (10 dollars i.e 1,000 naira) as an anuual fee if billed annually

@jimmyjam
It's called capitalsim. As a company, Interswitch has the right to charge whatever they want for their services. As a consumer (the most important part of this equation), you have the right to either use their services or go elsewhere.

Free market capitalism is the best path to prosperity. It's all about choice. People, including myself, are where we are today because of the choices we made in the past.

As a consumer (the most important part of this equation), you have the right to either use their services or go elsewhere.

As a consumer, you also have a right to complain about anything you find unsatisfactory, including the price.  Without this, companies won't know how to improve their services.  This is called market feedback, and it is also part of capitalism.

@Seun,

I will agree to disagree with you on this one (in order to prevent a ban ) - I think by speaking with your wallet (going elsewhere) resulting in reduced revenues to the business (and maybe a drop in stock price to boot), you send a message to the business that they better change their ways and innovate or bite the dust.

@ viper
While it may be well argued that etranzact is flexible, when it comes to online payment with ATM cards, interswitch rules. The thing is that interswitch issues most of the ATM cards around. Etranzact runs for just 2 banks (if im still correct) and u see the funny thing is that u cant use an etranzact ATM card on a site dat runs on interswitch's payment integration and viceversa. For this reason, some sites integrate both payment solutions. For the sake of it, eTranzact's payment integratn cost N120,000

This is kinda old, BUT
im in the process of deploying an online shop in Nigeria based on magento and im wondering if these info and prices here are still up to date:
Is interswitch still 150k setup and 1.5% each transaction ?
Is etransact still 120k setup and what are their transaction fees?
Is etransact still only on 2 banks? If so, I doubt its worth more than 10K

Advice pls

mrph: This is kinda old, BUT
im in the process of deploying an online shop in Nigeria based on magento and im wondering if these info and prices here are still up to date:
Is interswitch still 150k setup and 1.5% each transaction ?
Is etransact still 120k setup and what are their transaction fees?
Is etransact still only on 2 banks? If so, I doubt its worth more than 10K

Advice pls

Asking the above questions as well. Any answers?

Try Fidelity paygate. It offers you a payment gateway to all cards. Call Yombo 08035636175 and its free (As at the last time i setup payment for a client (February))

or better still you can make use of eyowo.com. Its more flexible and incorporates interswitch and etranzact. I think the annual fee is 6k (i think).

I use VoguePay.com and I am a sub-aggregator. The fees are affordable and there is no yearly renewal fee. With N1,000 you can integrate Interswitch, Verve and Mastercard payment on your site.

ojochidem: I use VoguePay.com and I am a sub-aggregator. The fees are affordable and there is no yearly renewal fee. With N1,000 you can integrate Interswitch, Verve and Mastercard payment on your site.

Has anyone else used VoguePay.com. Lets know more about their service.Visited their site,they sounds to be good,but need to know of more people that has used the service. Moreover they said registering is free,anual fee, free, so where does the N1,000 comes in. explain bros.

VoguePay looks nice

chitex88:

Has anyone else used VoguePay.com. Lets know more about their service.Visited their site,they sounds to be good,but need to know of more people that has used the service. Moreover they said registering is free,anual fee, free, so where does the N1,000 comes in. explain bros.

I use it on my site and have collected and withdrawn money from it. The N1,000 is to verify your business with Interswitch, so as to enable you receive money thru interswitch. Otherwise, your customers have to create a Vogue account before paying into your voguePay wallet.

ojochidem:

I use it on my site and have collected and withdrawn money from it. The N1,000 is to verify your business with Interswitch, so as to enable you receive money thru interswitch. Otherwise, your customers have to create a Vogue account before paying into your voguePay wallet.

thanx very much will start using it.