Pls guys i am aware voguepay charges 1% for every transaction made on a website using their service. So who exactly is the charge made to? Is it to seller(site owner) or the buyer?

And what types of card does voguepay accept for payment.

Thanks a lot everyone.

The Option is left to your discretion. You can choose that your Customers pay or that you the Merchant Pays. For your information, the Total charges when summed up are above 1 Percent.

abhosts: The Option is left to your discretion. You can choose that your Customers pay or that you the Merchant Pays. For your information, the Total charges when summed up are above 1 Percent.

is this for real? What they say on theri website seems quite different (though its a bit vague). Their website says the 1% is charged to the reciever (who I assume is the seller or site owner in this case). Did not see anything talking about discretion.
Pls what other charges are you reffering to bro? I don't see this on their site either.

Do you use voguepay bro?

Voguepay charge 2%+

Check their pricing page


In the member area, you chose who pays for the charges

Booblacain, VoguePay charges 1% only as transaction fees. See the pricing page at https://voguepay.com/fees. That is what is obtainable. VoguePay's charges have NEVER exceeded 1% on any transaction and between December 03 and December 15, VoguePay waived the transaction fee for all transactions on its portal to appreciate our merchants.

The traditional approach is to have the 1% transaction fee to be borne by the merchant. This is the default on VoguePay. However, the nature of the business of some of our merchants require us to allow alternative approaches that will best develop their businesses, hence, the flexibility in choosing who pays the transaction fees.

Depending on what is best for your business, VoguePay offers you a high level of flexibility in order to make sure you're always on the ascent.

VoguePay accepts all popular Nigerian payment cards; MasterCard, Visa Card, Verve Card, Etranzact Card and PocketMoni Card.

Qualms: Booblacain, VoguePay charges 1% only as transaction fees. See the pricing page at https://voguepay.com/fees. That is what is obtainable. VoguePay's charges have NEVER exceeded 1% on any transaction and between December 03 and December 15, VoguePay waived the transaction fee for all transactions on its portal to appreciate our merchants.

The traditional approach is to have the 1% transaction fee to be borne by the merchant. This is the default on VoguePay. However, the nature of the business of some of our merchants require us to allow alternative approaches that will best develop their businesses, hence, the flexibility in choosing who pays the transaction fees.

Depending on what is best for your business, VoguePay offers you a high level of flexibility in order to make sure you're always on the ascent.

VoguePay accepts all popular Nigerian payment cards; MasterCard, Visa Card, Verve Card, Etranzact Card and PocketMoni Card.

thanks a lot qualms. I realy wished you guys had a thread on this forum where questions like these can be asked and answeres quickly.

@op;

voguepay's total transaction fees from the customer to yout bank account is 2% + 120 naira

pls, read and digest their pricing page well.
he already posted the link.

spikes C: @op;

voguepay's total transaction fees from the customer to yout bank account is 2% + 120 naira

pls, read and digest their pricing page well.
he already posted the link.

what I see in their website is that when withdrawing from your vougpay account (I assume at any given instance), you are charged 1% of total withdrawal pluse N250.

So where does this 2% come from? Are you actually marrying the transaction fee (btwn customer and merchant,1%) with the withdrawal charges (btwn voguepay and account owner, 1%+N250)?

i believe you should calculate all charges involved in securing the funds from your customer to your bank account

spikes C: @op;
voguepay's total transaction fees from the customer to yout bank account is 2% + 120 naira
pls, read and digest their pricing page well.
he already posted the link.

I see you do not understand how all these play out. No point misrepresenting the facts. Each member on VoguePay has a wallet and that is where funds are housed. It is not as if withdrawals are pushed immediately a transaction occurs, so, your assumption is very wrong.

booblacain:

So where does this 2% come from? Are you actually marrying the transaction fee (btwn customer and merchant,1%) with the withdrawal charges (btwn voguepay and account owner, 1%+N250)?

That is the right question. It is simple mathematics, and even at that, despite having one of the most advanced systems and first class features, VoguePay prides itself as offering the fairest rate available anywhere in the payments processing industry in Nigeria.

Booblacain, withdrawal charges = 1% + N120, not 1% + N250.

Qualms:
I see you do not understand how all these play out. No point misrepresenting the facts. Each member on VoguePay has a wallet and that is where funds are housed. It is not as if withdrawals are pushed immediately a transaction occurs, so, your assumption is very wrong.


That is the right question. It is simple mathematics, and even at that, despite having one of the most advanced systems and first class features, VoguePay prides itself as offering the fairest rate available anywhere in the payments processing industry in Nigeria.

Booblacain, withdrawal charges = 1% + N120, not 1% + N250.

thanks for the clarification. The exact amount kinda skipped my mind.

I see that many people are a bit confused about this charges. Could this be the fault of voguepay or the readers?

pls dnt get me wrong, this is not an arguement. i am just trying to clarify something to him based on total cost per complete transaction.

a complete transaction is when the amount gets to the merchant's hand, atleast, in my opinion. And the fees involved is 2%+

voguepay is very good, i can testify to that. a lot of my clients use it as i always advise dem to, if they dont have d funds for the bigger processors. But we still have to state the fact.

On Voguepay, if a merchant decides to foot the Transaction fees for Card Payments, it would amount to a total of 3.5%.

1.5% + 1% when Receiving and and additional 1% when withdrawing to Bank account.

abhosts: On Voguepay, if a merchant decides to foot the Transaction fees for Card Payments, it would amount to a total of 3.5%.

1.5% + 1% when Receiving and and additional 1% when withdrawing to Bank account.

this mean that the merchant is charged an extra 1.5% if he chooses to pay the fees.

Qualm pls clarify this for the sake of your intending customers that would read this.!

abhosts: On Voguepay, if a merchant decides to foot the Transaction fees for Card Payments, it would amount to a total of 3.5%.
1.5% + 1% when Receiving and and additional 1% when withdrawing to Bank account.

This is absolutely funny. It is very untrue and Nigerians are not fools. We dont do any charges manually. Our systems carry the exact configuration we display about our charges. On VoguePay, there are absolutely no hidden charges.

Booblacain, does it make any sense for us to charge you a further 1.5% if you say you prefer your customer to bear the 1% (which is actually lesser)? The only charges applicable to the merchant are what I posted earlier. VoguePay has the largest number of registered business merchants amongst Nigerian Payment Processors. These are people who guard their funds with their lives and employ regular and periodic auditing to ensure their books are right. Our systems are very transparent and you only need to register to see this.

You can also reach us on our support mail (support@voguepay.com) if you require any clarifications, have queries or require assistance.

Qualms:
This is absolutely funny. It is very untrue and Nigerians are not fools. We dont do any charges manually. Our systems carry the exact configuration we display about our charges. On VoguePay, there are absolutely no hidden charges.

Booblacain, does it make any sense for us to charge you a further 1.5% if you say you prefer your customer to bear the 1% (which is actually lesser)? The only charges applicable to the merchant are what I posted earlier. VoguePay has the largest number of registered business merchants amongst Nigerian Payment Processors. These are people who guard their funds with their lives and employ regular and periodic auditing to ensure their books are right. Our systems are very transparent and you only need to register to see this.

You can also reach us on our support mail (support@voguepay.com) if you require any clarifications, have queries or require assistance.

The back and forth here has made it a little harder to determine without a doubt what the net charges are.

I'll present you a simple scenario question for the benefit of your potential customers (myself included).

Scenario: (assuming i am responsible for all fees)

If i (the merchant) receive a payment of 100 Naira from a customer, how much (less all fees) would i withdraw into my bank account?

Na Laugh:
The back and forth here has made it a little harder to determine without a doubt what the net charges are.
I'll present you a simple scenario question for the benefit of your potential customers (myself included).
Scenario: (assuming i am responsible for all fees)
If i (the merchant) receive a payment of 100 Naira from a customer, how much (less all fees) would i withdraw into my bank account?

I'll try my best to make this as clear as possible. N100 is not realistic as it is not enough to service the withdrawal charges alone. Also with a single payment and being a business merchant, why would you want to withdraw everytime a single payment drops into your account? It is not a wise decision looking at it from the business angle. We had sent out mail to some merchants we observe to withdraw everytime a payment is made as it will affect their business' profitability and that would mean a failure on our part as their payment facilitators. Here's why?

If you sell a product of N1,000 for example, and you withdraw everytime funds hit your account, by the time you would have withdrawn as much as N2 Million you would have expended 1% of N1,000 * 2000 + (120*2000) = 20,000 + 240,000 = N260,000.
On the same product however, if you withdraw the N2 Million once, say, then you would have expended 1% of N2M + 120 = 20,000 + 120 = N20,120.
You'd agree that one seems more intelligent business-wise.

For the transaction fees, as a buyer, if you have a VoguePay account and you choose to pay for the goods from your wallet, then, VoguePay will not be taking the 1% transaction fee. Plus, you'll get to fund your wallet absolutely free, giving you an opportunity to avoid all costs. Same for a merchant who chooses to have his buyers pay him via their VoguePay wallets.

There is nothing hidden, these things are simple mathematics and where a merchant seems to think our calculations incorrect at any instance, we are always willing to provide clarifications. If he is proven right, then a refund is the next step and we would be willing to adjust our systems accordingly.

For those who claim the charges to be otherwise, I can assure you that our system never charges above its configuration. Our charges are purely as stated. If you have a wallet on VoguePay and think you were overcharged (though I doubt that will ever happen), then mail our support team with the email I supplied earlier. If you think the issue extend beyond the support team, then we would be willing to have you mail our Nigerian or UK offices through ngoffice@voguepay.com and ukoffice@voguepay.com respectively.

Tell you what, there's a reason why our merchants are happy to be with VoguePay.

Okay.