We are currently working on an Online payment Solution , the Idea is to make easily accessible Chip and Pin cards ( activiateable ), We have not secured any formal arrangement with any banks just yet, We will provide, merchant with API's to accept payment, Users will be able to pick up our card register it, connect it to an account held by us/banks and use it for online payments, We have at least in theory covered the security ( fraud ) side of things. The major problem we have is how to market our solutions to the banks. to enable users deposit/move money

Good JOb. What's the name of your company? And who are the "we"?

hot-angel's question is important, because you cannot do any serious business under anonymity. You have to tell us who you are, if you want us to see you as a serious contender in online payment.

It will be nice to have an online payment network that will allow users of independently-run websites like Nairaland to be able to pay for online services, and not just physical goods.

Your Nigerian competitors seem to be etranzact and interswitch. Interswitch seems to have better technology, but their marketing is [i]woeful[/b] - and so Christ Embassy Online is the only known merchant on their network.

Since Mastercard is now in Nigeria, you will also be competing with them - they have the advantage that holders of their cards can purchase goods and services from most sites on the Internet.

All,
We are also just about to luanch Nigerias first On_Line payment facility.
Nigerians are one of the very few people in the world right now without the ability to purchase anything from the internet.
We are coming out with a bang on this service.
We hope we would get the support of all Nigerians particularly the youth - who are the future of our country.
In the meantime please check out our On-Line advertisng web site "naijamart.com"
It is free and allows you to advertise everything from a pin to a missing person.
please note that the site is going to be completely overhauled for better service to our customers.

hmm so it is. Everybody is trying to do something about the problem at stake.

Yes,
You are right kazey, although I would not call it a problem, but rather a huge gulf in the market.
If you think about it, Nigerians are probably one of the very few people that can not pay for a service on-line Why?
Think about all the hundreds if not thousands for people (probabbly like yourself) who have a sound business idea to have a virtual shop but does not have anyway of collecting payment.
We at our company have done our research and are confident of the success.
This is not a solution for the priviledge and upper class of our society. This is for everybody.
We would like to appeal to all Nigerains to come out and support us in this initiative.
They say that the journey of a thousand miles starts with one bold step, we recognise the challenges and we are taking the bold step.

... I'll be watching you

There is already an online payment system operating in Nigeria, called GLOBALDOSH www.globaldosh.com
It is revolutionary as it allows cash spenders to convert their cash to cybercash.
Loading of the cash is done either via their partnering banks and through voucher purchase from accredited sellers.
A lot of people are already using the system. It's even free to open a globaldosh account and operate.
You can use the system to make payment on any e-commerce enabled website that trades in UK£, US$ and Euro.

GlobalDosh even guarantees delivery of orders to Nigeria.

I think somebody should just come out with a working online payment solution in Nigeria. Thousands of millionaires (and million nairas) are waiting to be made from online businesses.

Meanwhile, has anyone got a personal experience with interswitch online payment system? I'm wondering if I can use it on an online store I'm hoping to launch soon. Any suggestion will be most appreciated.

I see

www.globaldosh.com
Interswitch

and Zenith bank websurfer solution which I can say I trust.

However has anyone heer actually had any experience using any of these.

This is the biggest question now as these services seem to be avialable, and yet although there is a huge demand, there seems to be no one actually using them

guys this online payment platform in nigeria is goin to have a problem. it will be very hard to work with because the registration fees are to high that is why you have hardly seen it on web pages it is not that interswitch is not marketing enough but the cost of implementing it is to much. from a reliable source i gathered you need #150,000 to even get on the web pay system to receive payments on interswitch. how many nigerians have that money to pay that could do you some business and also design a cool site if you get a cool designer. i dont think it is people arent aware or dont want to try it it is the cost of implementing. and of all these online payment solutions i only see interswitch, etranzact and mastercard as the reliable faces but when the cost is very high compared with what the american people do. look at paypal they work on commission and u are set up in less than 10 minutes. so why wont they make their money even mastercard and visa it doesnt cost a fortune at all to implement the payment receiving system in your store or online it just requires a few steps. they earn per swipe or transaction. NIgerians this is a Case of brothers shooting Brothers. well we nigeria need to throw away this registration fees issue i can tell u if any reliable company comes up with free registration Interswitch etranzact and mastercard will be thrown out with perfect timing.

The solution to the problem is just one, one simple solution! Get yourself your own credit card direct, no need to go through a third party. <<request for email deleted. no more of tht, thanks>>

I am interested in this thread and strongly believe that there is an opportunity here. What I don't understand is why is mastercard or visa not interested in seizing this opportunity? I would like to pursue this further and would like to meet/talk to any one that has a good idea about how to solve this problem. Is it easy to get a credit card in Nigeria?

sejeh1, before now it wasn't easy but now it's possible to get your credit card EASILY without going through a 3rd party

you can send me a mail and I'll give you details, who to call, where to go and more

Kg,

this forum is about information,if you sincerily know how to get credit card directly,simply say it now,no need for calling or mail,not many people would have time,its about making things easy for your people without any string attached,God bless you

is there any research about the number of people using the internet in nigeria?

@ Niajacutee,
Brilliant comment.
This online payment cannot work in Nigeria because of th efraud aspect.
Visa & Mastercard are fully aware of this and they wont even touch Nigeria with a 100-ft pole.

How many Nigerians own a credible account to start with?
Just few Nigerians are using credit cards to purchase goods online so this project is not feasible for now.
How many states in Nigeria can one even use credit card to pay for goods?
Lagos, Abuja and where else? Thats 3 states outta 36.
The loss will be collosal and merchants will bankrupt.
I believe Nigeria needs another 2-3 years to get this done more effectively.

Does anyone know anything about www.trucards.com? Is it a reputable site?

guys it is possible how about websites trying to create a positive image about our country or forcefully imposing it on us.
i wont lie to you nigeria will make progress if people stop doubting,or if u need to go through efcc to be able to sell online.
online business is not a long way away. first let the payment solution/ E commerce rdeuce their fees. then lets improve the postal system. after then let EFCC be the official registrar of online business. then tell me if online business wont explode.

why not use e-gold, its universal ,its free to register ,its free to intergrate into ur online store and start accecpting money from anyone online and paying anyone too ,all these u can do in less than 30 mins ,payment with e-gold are instant and irreversable ,so u get paid and stay paid ,no place for chargeback

egoldman:

why not use e-gold, its universal ,its free to register ,its free to intergrate into your online store and start accecpting money from anyone online and paying anyone too ,all these u can do in less than 30 mins ,payment with e-gold are instant and irreversable ,so u get paid and stay paid ,no place for chargeback

The charges of these sites are just to much (goldkobo,trucard e.t.c)

Nigeria can start enjoying real ecommerce once the major players get their acts together.

What's this about EFCC registering online businesses? What has EFCC got to do with ecommerce?

Developing without the necessary infrastructure is like building a castle in the air, we need to put the right things (reliable electricity, water, roads, telecom and most importantly a unique citizen's identifier) in place before venturing in e-commerce. for example, I reviewed Shopforless.com for a while and I'm disappointed with the payment methods. We need to create a reliable identification system, such as the social security or insurance numbers used in some countries, that way the system can differenciate between Ade Kasali and Kasali Ade. The national Id card would have been a solution, but I heard there is no signature on it. by the way, is there any unique identifier on the National ID?

It is not a good idea to use names to identify account holders as more than one person can have the same combination of names even with the same order.

I also believe that we can venture into ecommerce today with real results, only that very few understand how to do this and the few are not willing to do a long term plan, only short term ones with immediate returns.

Any digital wallet that can tie into any website at very affordable rates/charges is enough to bring real ecommerce to our doorsteps.

The main issue may be whether the potential buyers are ready to shop online and whether the potential sellers are ready to deliver goods/services paid for as promised.

If the 2 important end points are in tune with what is required then a good courier/postal agency will make the whole process work without problems.

But how many Nigerians will agree to pay for goods not seen even when you can buy something now, return it in 3 hours and the seller tells you he doesn't know what you are talking about?

Yes hyips are great try this you will never regrat it.
http://ifcprofit.com/?ref=9518

http://ifcprofit.com/?ref=9518

:-x

Finally, we have come with the answer to this question and you can't believe it.

STARBICPAY IS THE ANSWER:
StarbicPay is a Naira Payment Gateway that allows members to buy virtual credits to spend at in the different members' sites. Members can use their accounts to send money to other members, they can pay for membership/professional fees or purchase any other products with just a email address. Send money to anyone with an email address in all over Nigeria and beyond.

Open a free account in minutes, send money in seconds to friends and online merchants nationwide.


CLICK ON THIS LINK TO DO THAT


http://starbicgold.com/?r=105

For now i think nigeria is growing IT wise and for this online shopping of a thing to work, we can start of with the most reliable payment merchants which is interswitch and etranzact. All we need do now is to works towards a reduction in setup fee or no setup fee atall.

Adriano83 is very right.
The high cost of implementation is the bane of innovations like online payments in Nigeria.
Then, again, you might not blame them considering the huge cost of keeping such systems online when you factor in costs such as energy and telecom.