Isettle Logo
background
logo

Payment Methods in Nigeria

iSettle offers a comprehensive platform to integrate Nigeria’s leading payment methods, including bank transfers, mobile wallets, and card payments, ensuring secure and efficient transactions.

Nigeria's Payment Landscape

Nigeria has one of the largest and fastest-growing digital payment ecosystems in Africa, with over 100 million active bank accounts. Mobile payment methods, including USSD codes and mobile wallets, are highly popular, driven by smartphone penetration and financial inclusion efforts. In 2023, the Central Bank of Nigeria reported a 30% increase in mobile payment transactions, reflecting a shift towards digital payments. Despite the growing adoption of digital solutions, cash remains dominant in many parts of Nigeria, especially in rural areas. The Central Bank of Nigeria's push for a cashless economy is gradually gaining traction, with e-commerce and mobile banking continuing to rise, particularly in urban centers like Lagos and Abuja. Payment solutions like bank transfers and mobile wallets are critical for businesses targeting both digital and cash-preferred customers.

Featured Payment Methods in Nigeria

Description:
Visa and Mastercard are globally accepted credit and debit card networks, enabling secure, fast, and reliable payments across millions of businesses worldwide.
Deposit:
target blank
Withdrawal:
target blank
Settlements:
1-3 Business Days
Description:
Bank transfers in Nigeria provide a secure and trusted way to transfer funds directly between accounts, making them a popular payment method for both individuals and businesses.
Deposit:
target blank
Withdrawal:
target blank
Settlements:
Same Day or 1 Business Day
MethodDescriptionDepositWithdrawalSettlements
Visa/MC Credit Cardstarget blankVisa/MC Credit CardsVisa and Mastercard are globally accepted credit and debit card networks, enabling secure, fast, and reliable payments across millions of businesses worldwide.target blanktarget blank1-3 Business Days
Bank Transfers in Nigeriatarget blankBank Transfers in NigeriaBank transfers in Nigeria provide a secure and trusted way to transfer funds directly between accounts, making them a popular payment method for both individuals and businesses.target blanktarget blankSame Day or 1 Business Day
ImageImage

Powering Seamless Transactions for Your Business with iSettle in Nigeria

Start Accepting Payments in Nigeria

Integrating Nigerian payment methods with iSettle is quick and efficient. From bank transfers to mobile wallets, iSettle’s platform allows businesses to accept payments securely and reliably. Follow our API documentation to begin accepting payments in Nigeria with ease.

background imagebackground image

Payment Methods in Nigeria FAQ

The most popular payment methods in Nigeria include bank transfers, mobile payments (USSD, mobile wallets), and card payments. Cash is also commonly used in certain regions.

iSettle offers an easy-to-use API that allows businesses to integrate various Nigerian payment methods, including mobile payments, bank transfers, and credit cards.

Yes, cash remains a dominant payment method in Nigeria, especially in rural areas. However, digital payments are growing rapidly, particularly through mobile payment solutions.

Payments in Nigeria are highly secure, regulated by the Central Bank of Nigeria (CBN). iSettle ensures that all transactions comply with industry-standard security protocols and encryption.

Fees vary depending on the payment method, but iSettle offers competitive pricing for integrating digital wallets, bank transfers, and card payments into your business.

Yes, iSettle supports international payments, allowing businesses in Nigeria to accept payments from customers abroad via credit cards, mobile wallets, and bank transfers.

Contact us

We are always on the lookout for passionate clients and new talents to join us.

Get in touch

If you are interested in finding out more about our offering, please complete the form below and a member of our team will be in touch shortly.

Receive Presentation

If you are interested in receiving our presentation, please complete the form below, and we will send it to your email shortly.

Privacy Overview

The iSettle website utilizes cookies to store and access visitor information with the purpose of enhancing security and improving the browsing experience. If you do not wish for the collection of such information, you can toggle these off:

Necessary

These cookies are essential for the website to function properly. They

Lock

Marketing

Marketing cookies track your online activity to help advertisers deliver more relevant advertising or to limit how many times you see an ad. Said information can be shared with other organizations or advertisers. These are permanent cookies and almost always of third-party provenance.

Analytics & Statistics

Analytical and statistical cookies are used to understand how visitors interact with the website. These cookies help provide information on metrics such as the number of visitors, traffic sources, etc.