The Essential Guide to Payment Gateways

Introduction of Payment Gateway in Nigeria

From cash handling to mobile transfers, today’s payment methods have evolved drastically in Nigeria, addressing the daily needs of customers and business owners. Customers' need for convenience and merchant’s need for product demand made e-commerce in Nigeria a goldmine. The emergence of e-commerce in the early 2000s, left customers with the big question of ‘How do I make payments online?’. Traditional means of payment were unable to match the demand and nature of e-commerce. The need to link the discrepancy led to the emergence of Payment Gateways which allows business owners to accept payments online. In Nigeria, we have the likes of Paystack, Flutterwave, Interswitch e.t.c noticing the gap and enjoying the first mover’s advantage.

The need to link the discrepancy led to the emergence of Payment Gateways which allows business owners to accept payments online.

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What matters in selecting your payment gateway

At first, the purpose of the payment gateway was to provide a platform where customers could make payments on a business owner’s website or app. However, the focus moved from not only providing the platform but also ensuring security for both the business owner and the customers because trust was at stake. Fraud detection as well as compliance with Industry standards like PCI DSS, Payment Card Industry Data Security Standard, are in place to provide the confidence and trust back in the minds of the customers. Here are other essential factors in choosing the right payment gateway for your online business

• Easy integration to your website or app
• multiple payment methods
• seamless transaction processing
• 24/7 support
• PSSP license from CBN, etc

Fraud detection as well as compliance with Industry standards like PCI DSS, Payment Card Industry Data Security Standard, are in place to provide the confidence and trust back in the minds of the customers.

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Introducing PayWithSwwipe

PaywithSwwipe is the ultimate payment gateway for any type of online business, whether for goods or services. We also provide payment platforms for other business types that require payment collections like event ticketing platforms, flight ticketing platforms, church online collections, etc. PaywithSwwipe is compatible with all popular e-commerce platforms like Shopify, WooCommerce, or Magento and unpopular e-commerce platforms within and outside Nigeria. PayWithSwwipe offers the following to your online business

• Seamless Integration with any website or app.
• Relatively low transaction fees and setup costs.
• 24/7 customer support.
• Multiple payment options: USSD, Pay with Bank Transfers and Card.
• Compatible with all local card type.
• Easy and Simplified reporting dashboard for insightful data.
• Flexibility based on your business needs.

PaywithSwwipe is the ultimate payment gateway for any type of online business, whether for goods or services.

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Conclusion

Evaluating the payment gateway for your business requires much more than the factors earlier stated. It’s paramount you select a payment gateway that is flexible with your business needs and in touch with the evolution of e-payments in Nigeria. PayWithSwwipe is here to serve your online customers because we understand that they matter too.

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