If you are a business owner or you run an eCommerce store and you want to start accepting payment online, it may be difficult to choose from the majority of the online payment platforms available to meet your every need.
It’s one thing to start an eCommerce store online, it’s another thing to provide your customers with a convenient and safe way to make payment through your site. Great online payment platforms should provide you with the following – great support, security, low commission, and ease of use.
With lots of online payment platforms to choose from, you can easily be confused and may end up making the wrong choice for your business as a beginner. This is why we have decided to put together the top 5 Online payment service providers for online businesses in Africa.
But first, what is an online payment gateway or platform?
Online payment platforms or online payment gateways are a technology used by merchants to accept debit or credit card purchases from customers. Simply put, a payment gateway enables customers to make payments with ease on your website when they complete their purchases.
Before we talk about the top 5 payment platforms for you, here are some factors you should consider when choosing an online payment gateway.
Setup fee, Commission per transaction, Acceptable payment methods, Fraud and risk management, Currency accepted, Onboarding and approvals time, Recurring Billing, Charges on refund, Settlement time, SDK stack, Split payment, Support. Etc.
Haven’t said that, Here’s the list of the top online payment gateways in Africa to use.
1. Rave by Flutterwave: Online Payment Platform.
Number one on our list is Flutterwave Online Payment Gateway. This is a payment gateway system for both businesses and eCommerce Stores.
Flutterwave is an African-based fintech company that provides a payment infrastructure for global merchants and payment service providers across the continent.
Rave by Flutterwave allows you to receive payments from customers on your online store both locally and globally. Flutterwave comes with zero setup fees and with great customers experience in mind. Flutterwave makes accepting payments online easy, safe, and secure.
What payment methods are available on Flutterwave?
Both locally and international, Flutterwave accepts Mastercard, VISA, Bank Account, USSD, Bank Transfer, POS, Visa QR, AMEX, and recently that have also added Paypal,
What is the commission per transaction rate on Rave by Flutterwave?
Local commission – 1.4%
International commission – 3.8%
List of currencies supported by Flutter wave.
Flutter waves have multi-currency support which makes them unique in Africa. With the Futterwave payment system, you can receive payments in multiple currencies at the flip of a switch. Another great thing is that Flutterwave also supports cross-currency conversions.
Here is the list of currencies found on Flutter-wave:
BIF, CAD, CDF, CVE, EUR, GBP, GHS, GMD, GNF, KES, LRD, MWK, MZN, NGN, RWF, SLL, RWF, SLL, STD, TZS, UGX, USD, XAF, XOF, ZMK, ZMW, ZWD.
One exciting feature on Rave is the automatic white label that is offered free.
If you want to accept different currency Cards and account payments Flutterwave should be your choice. You can charge cards and bank accounts directly and also direct debit your customers’ bank accounts.
2. Paystack: Online Payment Platform.
Paystack Online Payment Gateways is another great option for online businesses and E-Commerce Stores in Africa.
With Paystack you get everything you need to accept payments from customers both in Africa and around the world. It doesn’t matter if you’re just starting your online business or you are a large brand looking to test another payment gateway; Paystack has all the solutions you will need for your online payments.
Paystack simplicity, high level of Security, and low commission per transaction make it one of the best options for eCommerce business, and every other online business in African, especially the SMEs in Nigeria and other African countries.
What payment methods are available on Paystack?
With Paystack, you can accept Card, Bank account, Bank transfer, USSD, Visa QR, Mobile money, POS.
Also, its supported currencies include GHS, NGN, USD.
What is the commission per transaction rate on Paystack?
Local Commissions: 1.5% + NGN 100
International Commissions: 3.9% + NGN 100
Setting up your Paystack account is easy and free. It only takes a few minutes, and you can do this all by yourself. More also, Paystack ensures that Payments are processed and completed within 2-3 easy and simple steps.
Paystack also offers you helpful resources and tools, plus reliable support and business solutions for you to succeed online.
If you’re looking to create hassle-free payments for your customers on your website or eCommerce store, Paystack should be your option.
3. PayU: Online Payment Platform.
PayU is one of the leading online payment platforms in Africa that is dedicated to creating a fast, simple and secure payment process for both merchants and online shoppers. They included a virtual terminal; this will help you to process your invoice payment via the Checkfront Booking Manager. Your fund in PAyU will be updated in an automatic way and it will be delivered to the customers as needed.
PayU accepts all credit cards which can help you expand your reach by accepting both local and international payments/credit cards. They also allow users to customized their payment page, this will help ensure a consistent look and feel on both your site and page. PayU also includes enhanced security (PCI DSS SSL and 3D secure), Optional fraud protection service with Next day/Weekly settlement.
What is the commission per transaction rate on PayU?
Setup & Support system with PayU is Free. However, Payment Processing and commissions are not specified.
To set up the PayU payment system, you will have to log in to the Checkfront account and make sure the Payment tab is active by following the eCommerce managing steps. If you do not have an account on PayU, try signing up for it.
4. VoguePay: Online Payment Platform.
VoguePay provides a simple and secure way to send and receive payments globally. With VogeuPay, you can make and receive payment safely and securely with a global reach in all major currencies regardless of location.
Another interesting thing about VoguePay is that they offer a safe and secure platform to accept payment in bitcoin. You can accept one-time payments, set up subscriptions, and even receive donations with it.
What payment methods are available on VoguePay?
The payment methods that are available with VoguePay are Visa, MasterCard, Bank Transfer, VoguePay Wallet. And it accepts Naira (N), USD ($), Euro (€), GBP UK Pound (£), Ghanaian Cedi (GHS), and South African Rand (ZAR)
Voguepay is very user and developer-friendly, and you can easily integrate their API into any online platform, following their guided documentation that makes integration easy, even for non-developers.
What is the commission per transaction on VoguePay?
Local Naira cards commissions = 1.5%. (Transactions above NGN 2,500 = 1.5% + NGN 30).
Withdrawal: 0.99% + NGN 99
VoguePay wallet & Wallet fund transfer: 1%
International currencies Commissions:
Transaction fee: 3.8% +
Withdrawal fee: 1.5%
5. Remita: Online Payment Platform.
Remita is another great payment system that helps you receive and make payments on your eCommerce store and also on your mobile apps. They provide ready-to-use plugins, SDKs, and APIs that make integration quick and easy.
Remita provides a unique feature to the online payment platforms; allowing you to see all your bank account balances, from any bank, on one screen.
What’s more, it also has a built-in feature that lets you get paid by simply generating and sharing payment requests (or e-Invoices) with customers. And help you manage your payroll & HR management needs irrespective of how small your business is.
What is the commission per transaction on Remita?
Their setup and support systems are totally free. However, receiving local Payments incurs a 2% fee (Min ₦100 – Max ₦2,500)
International Payments commissions come at a flat rate of 4%
What payment methods are available on Remita?
With Remita, you have access to Internet Banking, Debit/Credit Cards, Bank Branch, POS Terminals, Mobile Wallet, Cash Agents, mPOS, Direct Debit, Standing Order, and Electronic Purse payment options.
So! we’ve listed the top 5 online payment platforms in Arica that will allow making and receiving payment for an eCommerce business simple and easy. We hope you’ve found this post useful. If you are using a payment system that’s not listed here, and you want us to look into it, you can drop it in the conversation box. We will cover it and update the article.