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Payment Gateway Integration

Payment Gateway Integration

Setting up a website where you sell your products should also include a Payment Gateway. A Payment Gateway is a means for customers to pay for your products online. Globally, people have shifted away from making traditional payments (cash and bank deposit) to making payments online. This is possible because there are now easy ways to do this from anywhere.

Apart from its ease, payment gateways helps your website close deals for you. By giving your customers the option of paying immediately, it guarantees that there is no room for mind changing. That is a Call-To-Action button that your website must have. Payment Gateways are vast and each has its own advantages and disadvantages. Some are local or international, some are free while others are paid but the most important thing to consider is security.

Types of Payment Gateways

Classic This was the first type of payment gateways that existed. With this gateway, you have to apply for a merchant account with the gateway company. This merchant account is like a special bank account that allows direct credit card payments. Without a merchant account, the money could not be transmitted to your main bank account. Modern As time progressed, new payment gateways discontinued the need for a merchant account. Instead, these gateways would transfer the money directly from your customer’s bank or credit card into your own bank account. With this gateway, customers do not get transferred from your site to the gateway company’s site in order to complete payment. No. The gateway is directly linked to your website and all payments are completed right there on your website, giving your customers a seamless experience. Your website integrates with these gateways through API, generally requires security to protect customers bank or card details and save you from hackers. Its downside is that it makes you completely responsible for complying with PCI security Standards and other rules governing your country. Adding an SSL to your site makes it secure. Some Payment Gateways charge fees for using their services, either monthly with every transaction.

Examples of Payment Gateways

  • Paystack is a very popular gateway in Nigeria. It accepts payments from debit and credit card and can generate a shareable link which you can share to customers on any site, chatroom or social media for easy payment. It also offers a subscription option if your business can be subscribed to. Their dashboard allows you to pay money to any bank in Nigeria.  The setup is Free. They charge 1.5% and 100 naira for local card transactions, 3.9% and 100 naira for international card transactions. If the transaction is less than 2,500 naira, the 100 naira fee is waived.
  • PayPal is another popular payment gateway. You have to open a paypal account with your email address and bank account or credit card. You can use your paypal account to buy as well as receive payments. You can send the payment link to your customers’ email and it charges per transaction. It boasts of fraud security and safety from unauthorized payments.
  • PayU is another easy and secure payment gateway. Here, you send the payment link to the phone number or email address so they can pay with their cards. This means they don’t have to be on your website. You can just send the link to them. They accept credit and debit cards.
  • Remita is another popular payment gateway in Nigeria. It is even used by the government for digital payments, ensuring their credibility. Remita offers your customers vast ways to make payments including credit/debit card, Direct Debit, mPOS, Internet Banking among others.
  • Rave is acclaimed in Africa and allows your customers to make payments with their local currency. It is a product of Flutterwave and it gives payment access to customers in over 150 countries, paying with their local currency with any card. Local payments attract a 1.4% fee while international payments attract a 3.5% fee.

You can contact us for your Gateway Payment Integration. We are happy to help.

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