4 payment methods for e-commerce businesses in Nigeria

 

How do you get paid for your products and services?

As a business owner, one of the easiest ways to keep your customers coming back asides from making delivery options stress-free is by having enough payment options that are easy and safe to use.

In this article, you will find 4 payment methods that you can explore as a business owner that will encourage your customers to keep coming back.

1. Cash on delivery

This simply means the customer will pay for the service at the point of delivery. A lot of businesses do not like this option because a customer can easily change his mind. Customers on the other hand love this option because it reduces the risks of being defrauded. Cash on delivery is however a great way to get your customers to trust you (especially the first-timers) and can be explored if you are delivering within the state you live in.

1. Bank Transfer

A very easy process where the seller sends his business account details to the buyer and the buyer can then proceed to make a payment and send the proof of payment to the seller. It is safe, fast, verifiable, and easy to use.

1. Online (card) payment

In this case, Instead of having to follow-up on customers that chose the ‘Bank transfer’ option, here, customers just complete the entire transaction online. Of course, for this to work, you must have at least one online payment gateway integrated on your website.

1. Payment Getaways

A payment gateway is an application that makes the online payment process very simple and easy. It is a medium that connects a seller’s mobile application or website with the bank. When you make payments through a payment gateway, the seller’s website sends your debit/credit card details to the gateway for confirmation. The payment gateway then verifies the details from the bank and the amount gets transferred from your bank account to the seller’s bank account. Some of the payment getaways available in Nigeria include; Paystack, Rave by Flutterwave, Interswitch.

Conclusion

These are 4 basic payment methods you should consider, and we recommend you have more than one payment option.

Are you interested in developing an E-commerce Website? All you have to do is contact us, we will be glad to assist you.

Do you have any questions or suggestions regarding this article? Kindly drop a comment below.