Soon we will launch a powerfull online trading place. We are still doing research about online payment services in Nigeria. We are a little bit confused now. Who can help us out: which online payment system is the most reliable and has the biggest market share? Is it payboss? Is it etranzact? Is it egold? Is it interswitch? Is etranzact really getting as big as the owner has promised? Please update us! Thanks in advance.

I don't think E-tranzact is ready for ecommerce business in Nigeria.I heard they are in discussion with Interswitch to use their ATM platform.Does that show they are serious? I feel interswitch is still the best but i have my scepticism over non-acceptance of the ATM card by a cross number of Nigerians.

Interswitch has the technology but they are a lsomethings that you need to consider before enrolling.

The major one, is what is your profit margin like in ratio to the cost of maintaining an interswitch account besides capital outlay.

Would the pricing of your product be the differentiating object in comparasion to your competitiors?

And many more. To me interswith has still a long way to go, business model wise besides security and protecting customer interest.

N150,000.00 is required to integrate interswitch into your plan, either online or offline the last time I checked.

Now, save for very few businesses that may want to join the bandwagon without doing proper and complete analysis, I guess Interswitch is just cool for the banks and their ATMS.

A simple, easy and very affordable online payment is needed to ecommerce to take off real good unfortunately, there seems to be a disconnect between the many promises being made by these providers and the reality on ground.

To me, I think Interswitch is still better, just like being use in www.shopforless.com , www.web2smspro.com and some others, its fast and simple, If at all you want to go for online shoping, I think convinience is considered, how would i go to a site where i have to order, go to bank to pay into their or equaivalent account, and start waiting for the money to be verified, wait for confirmation before my goods is been shipped while i can do all this at a go with my fingertips? I still insist on Interswitch, they've got a lot to offer!

Hi Guys,

This topic will forever be a contentious one. NETICASH an online payment service launched it's services in September of 2006 as posted on nairaland (see https://www.nairaland.com/nigeria/topic-3813.32.html#msg218923) and we are making remarkable progress, subscription rate is growing at the rate of 10% per month and our projections for 2007 are quite remarkable. However we need budding Nigerian business who want to sell online to add to our growth figures. NETICASH is a Global online payment service that allows Nigerians across the world to transact business online in the major currencies of the world.

What does this mean?

It means that a Nigerian based business using NETICASH can now advertise their products online in the local currency (Naira), but get paid in the major currencies of the world (£,$ and EURO) without the need to worry about get a credit card terminal. Basically, a london based NETICASH account will be denominated in their own currency (£), a US based NETICASH account will be denominated in dollars and so on. However when they now want to buy from a Nigerian based Merchant their currency is converted real time during the transaction, just like any other credit card transaction on the internet. This inadvertently opens up a whole new market to Nigerians that the likes of Interswitch et al cannot at the moment. The money collected on your behalf is then remitted to your bank account in your local currency (Naira).

NETICASH account holders can load their account at Lloyds TSB bank in the UK, and all the branches of FCMB and UBA nationwide in Nigeria.

Merchants are charged a minimal setup and transaction fees compared to that which prevails in the market today.

NETICASH is the best online payment solution for Nigeria yet and we can prove it.  And guess what, you can perform all your transactions from the comfort of your mobile handset as well i.e. transfer funds, pay merchants, buy recharge PINs, etc ( a first for Nigeria in its own right)

I will advise you to give it a try.

NETICASH

www.neticash.com

Hi,

I came across another website that's meant to be about online payment in Nigeria
(www.nigeriaonlinepayment.com) not too sure what they are trying to achieve but check it out.

NETICASH

Recently the National eGovernment Strategy (NeGSt) is pioneering a PPP model with the CBN to provide Nigerians with the eNaira. I got wind of this from a reliable source. In months to come, every other payment system in Nigeria shall be integrated into eNaira which will become an eGate for Nigeria.

hahahaha there Nigeria goes again, with government doing everything for us,

In months to come, every other payment system in Nigeria shall be integrated into eNaira which will become an eGate for Nigeria.

Isn't yet yet another government-imposed monopoly? That's not fair!

Yeah Seun, you might be right about that, but its gonna be e-Monopoly and you know what? I dont think all of these our fat-belly leaders are so much intesred in e-world and I think if they are involved, may be it would be recognized worldwide and definalty opens more gateway to Nigeria in on internet!, may be not! if only they will make it for both the rich and the poor!

Heres a great solution,

[center]--WWW.SOFTPAY.ORG--

SoftPay is an online payment system that enables its users to send Naira online.
SoftPay could also serve as an online wallet enabling users to save online. SoftPay users
can also receive money online and later withdraw it directly to their bank account, request
for a cheque from SoftPay, send the money on to other SoftPay users or use the money
to shop online on selected sites.
SoftPay is accessible to users from all over the world with an internet connection but
all transactions are carried out in Naira. This makes SoftPay a service mainly for Nigerians in
Nigeria and abroad. Serious online merchants can take advantage of this service to collect
payment for good and services from their customers all over the world thereby increasing
their scope and reach. Business does not have to be limited to your locality only.
Another good feature of SoftPay is that it shields your financial payment information
(credit/debit card and or bank account details) to a large extent. You only need to store your
financial information with SoftPay, and do not need to share it with merchants or other people
in general since all you need to complete a transaction is your SoftPay user name and SoftPay
account password when making payment.

How can SoftPay be of use to you?
Your use of SoftPay will depend on what exactly you intend to do online. Are you an online
shopper, a small-time seller or a full-blown merchant? SoftPay will work for you.
At SoftPay there is no distinction between seller, buyer or merchant. All accounts are treated
equally and fairly.
Send Money home
If you live abroad you can send money home through your SoftPay account. The great thing
is that you can send small amounts of money to several beneficiaries without paying a fortune
in transfer fees. e.g Bits of N10,000 oe even N5,000 and you don't have to pay transfer fees for
each one. Jus send the money directly to your softpay account and then distribute from there on.
Collections
Have you got business interests back home and would require to collect money from people
who owe you some? I bet we are all familiar with the scenario in which we ask a relative to
collect for us and next thing we begin to hear is stories of how the money went. Well not any
more!
Now you can ask all your debtors to easily pay directly into your SoftPay.org account.
Receiving Money
With your SoftPay.org account you can collect and monitor all your debts securely online even
from abroad. Know when payment is made and manage your cash in full control just the way
you want.
Buy/Sell
You can use your SoftPay.org to pay for goods and/or services obtained from Nigeria.
You can also sell stuff and get paid through SoftPay. All this and more without the hassles of
the past.
Make residual income with the Free Referral Program:
Open a free account today and be automatically enrolled in our free affiliate program that pays
you for your referrals 4 levels deep.
Business/private users: Make payments, send money to friends with SoftPay - and earn money instead of paying it through the bank.
Online shops: A double advantage: accept SoftPay and at the same time earn money by referring users to us via your special referral link.
Webmasters: Turn your traffic into cash - just for putting a SoftPay link/banner on your website! Earn commision from all who sign-up through your site.


SoftPay is stretching the boundaries of e-commerce in Nigeria.
You too can join now and begin enjoying the benefits by signing-up for a SoftPay account.
On sign-up you will even get free N200 credit to your account. How cool is that?
Click on the link below to do so now.

www.softpay.org[/center]

Spadmin1:

Heres a great solution,

[center]--WWW.SOFTPAY.ORG--

SoftPay is an online payment system that enables its users to send Naira online.
SoftPay could also serve as an online wallet enabling users to save online. SoftPay users
can also receive money online and later withdraw it directly to their bank account, request
for a cheque from SoftPay, send the money on to other SoftPay users or use the money
to shop online on selected sites.
SoftPay is accessible to users from all over the world with an internet connection but
all transactions are carried out in Naira. This makes SoftPay a service mainly for Nigerians in
Nigeria and abroad. Serious online merchants can take advantage of this service to collect
payment for good and services from their customers all over the world thereby increasing
their scope and reach. Business does not have to be limited to your locality only.
Another good feature of SoftPay is that it shields your financial payment information
(credit/debit card and or bank account details) to a large extent. You only need to store your
financial information with SoftPay, and do not need to share it with merchants or other people
in general since all you need to complete a transaction is your SoftPay user name and SoftPay
account password when making payment.

How can SoftPay be of use to you?
Your use of SoftPay will depend on what exactly you intend to do online. Are you an online
shopper, a small-time seller or a full-blown merchant? SoftPay will work for you.
At SoftPay there is no distinction between seller, buyer or merchant. All accounts are treated
equally and fairly.
Send Money home
If you live abroad you can send money home through your SoftPay account. The great thing
is that you can send small amounts of money to several beneficiaries without paying a fortune
in transfer fees. e.g Bits of N10,000 oe even N5,000 and you don't have to pay transfer fees for
each one. Jus send the money directly to your softpay account and then distribute from there on.
Collections
Have you got business interests back home and would require to collect money from people
who owe you some? I bet we are all familiar with the scenario in which we ask a relative to
collect for us and next thing we begin to hear is stories of how the money went. Well not any
more!
Now you can ask all your debtors to easily pay directly into your SoftPay.org account.
Receiving Money
With your SoftPay.org account you can collect and monitor all your debts securely online even
from abroad. Know when payment is made and manage your cash in full control just the way
you want.
Buy/Sell
You can use your SoftPay.org to pay for goods and/or services obtained from Nigeria.
You can also sell stuff and get paid through SoftPay. All this and more without the hassles of
the past.
Make residual income with the Free Referral Program:
Open a free account today and be automatically enrolled in our free affiliate program that pays
you for your referrals 4 levels deep.
Business/private users: Make payments, send money to friends with SoftPay - and earn money instead of paying it through the bank.
Online shops: A double advantage: accept SoftPay and at the same time earn money by referring users to us via your special referral link.
Webmasters: Turn your traffic into cash - just for putting a SoftPay link/banner on your website! Earn commision from all who sign-up through your site.


SoftPay is stretching the boundaries of e-commerce in Nigeria.
You too can join now and begin enjoying the benefits by signing-up for a SoftPay account.
On sign-up you will even get free N200 credit to your account. How cool is that?
Click on the link below to do so now.

www.softpay.org[/center]

Check your mail. Important information waiting.

2checkout
paypal
Are the best to use do a search on google and go to the main sites and register your account.

The snitch is that you'll have to integrate your site with your accounts.

Akin
http://wetin-dey.com

Well, I think E-transact is Okay.

Have got friends that use it, works well for them

As for me, just launched an e-book for free that explains the processes involved in earning cool and it is exclusively for Naija People.

U want a copy? Send me an e-mail to solutionideaconsort@yahoo.com

or want an instant result? Then visit http://www.24hourswealth(dot)(dot)com

Odabo oo!

Interswitch is the best.

hello deal4real i think paypal is good and very reliable.

Well, I think E-transact is Okay.

I happen to formerly work with LIVING FAITH CHURCH (A.K.A. WINNERS CHAPEL) as an IT Consultant. It's used there for all their transfer of funds from respective branches to Canaan Land including on their site.

Works very well for them though,

As for me, I had to resign cos I got a high-paying enterprise and just launched an e-book for free that explains the processes involved in earning cool and it is exclusively for Naija People.

U want a copy? Send me an e-mail to solutionideaconsort@yahoo.com

or want an instant result? Then visit http://www.24hourswealth(dot)(dot)com


P.S. If it doesn't work for you, then be prepared to receive N2000 for the waste of time.

Bye bye oo!

Guys,
     Guys,
              Please dont let us miss the point!
First of all, deal4reals question is long outdated as in by now he would have found a solution that is working well for him.(maybe he should come back and tell us).
However the querry still remains a valid one to most Nigerians 3yrs later. hmm, ?

About paypal and 2co, I belive Nigerians in Nigeria use dollars or euros as the primary currency? Theres no harm in having multiple payment methods for your website, let the people decide which they want to pay you by. Collect your dollars, but please do not neglect your naira too.

SoftPay has been set up with the small scale netprenuer in mind, people that cannot afford to pay ridiculous amounts as 'registration fee',

SoftPay is working hard to make e-commerce in Nigeria what it really
should be. We are looking to improve the integrity of Nigerian e-commerce
as a result we dont take on just anybody. All SoftPay merchants must be
able to have enough confidence in their products and customer satisfaction
to be able to offer a 'Money back Guarantee' to their clients.
Good news for 'Netpreneurs' who have managed to open a paypal account but
now have a problem of cashing the funds out. In the next coming weeks,
SoftPay will start to accept PayPay as a means to load your account. So
your customers can pay you in Naira with their US/UK credit cards.
We know that business is not all about making money. Give a world class
quality service first and the big bucks will roll in much latter. We are
prepared to wait.

See you at the top, however long it takes. Rome was not built in a day.
Despise not your days of small beginings! 

SOFTPAY - Inspiring trust in Nigrrian e-commerce

@ deal4real


i think you should open a BOA account (Bank of America) here in Nigeria, when you have it you can open paypal account and accept payment very securely.

Anyway, Paypal Sucks: Why visit www.paypalsucks.com

Why not try www.charge.com outside Nigeria, with your BOA account every thing is easy.

More details contact me @: johnbbks@yahoo.com

Funny stuff about PayPal,

Please understand the 2 main but different needs of Nigerian e-commerce enterprise.

1. You have a website, you sell intelectual goods, software, e-books etc.
You want to sell to the whole world and make your money in 'dollards'
Ok.

2. You have a website, you sell same as above and/or you sell 'hard' products
that need to be shipped or collected in person.
You sell to Nigerians living in Nigeria paying in Naira.

Need I say more? Search and find the right solution for your business. Keep it real.

@ Spadmin1

Hi,

I just registered at softpay and added my credit card.

Not too long after adding my card, I received a mail in my box that the credit card details had been changed, This I did not do.

Your site is not secure then, I'm moving out.

Thanks.

BEWARE!!!!!

Any explanation for that before I open a web-page with softpaysucks.com

Kudos to paypalsucks.com

Ciao!

@ Spadmin1.

I dey feel U bro!

Thanks for your registration sir, you are most welcome to SoftPay.


your business is important to us.

No one is saying anything about NetNaira. I think it has a lot of potential. The functionality is amazing and it has profession build.

to my own opinion interswicth is the best is your major target customers are nigerians but this their set up fees N150,000 is the only problem i as a person is having with this guy i have engaged their webpay in action withot any problem it secure, fast and easy.

you cam try www.plimus.com 4 i am currently test runing this solution on www.syvanet.com, www.emoneypoints.net, www.websmsalerts.com, www.gseedconsult.com the demo worked very well

So many choices.

I think the best thing to do is check what major sites are using and go from there. Maybe you check at least 20 sites and keep score. I guess it all depends on how much money you have to get started.

In the interim why not try using e-currencies like e-gold and better still liberty reserve as most e-inclined guys now have at least one of those options. There is no harm in using multi payment options though. Fast, simple and no setup costs, just a very little commission fee per transaction if you know how to set things up.

Wise words yawa-ti-de. In the world of free commerce, 'shop around' is the watch word. Although agaracha must come back to SoftPay. 

Mr. teemy, I don’t think you have ever used e-gold b4? Easy to buy, hard to sell. e-gold is synonymous with HYIP which is synonymous with fraud period.

For best information listen to syvanet, he is the only one doing and he’s currently trying them all out, although he can tell you that no one works as yet. Just a word, syvanet, amongst all try SoftPay and tell us what you think.

It’s not all about dormant potentials; it’s about doing, about working hard. At SoftPay, we are doing our best to inspire trust in Nigerian e-commerce. To revive trust in Nigerians and kick start true ecommerce in this country.

SoftPay - The way to send Naira online.

Actually e-gold had some problems way back but most of it has been solved and with the new trend now, e-gold is more secure and comes with more scrutiny. The only problem is getting back their lost clients like you and I. At the moment sha LR tops the charts in e-currency (CCs and Ppal excluded).