Payment gateway fees in Nigeria, explained

"What's your fee?" sounds like a simple question, but pricing pages can be confusing. Here's how to read payment fees in Nigeria so you're never surprised.

The percentage

Most providers charge a percentage of each transaction. A common rate is around 1.5%. On a ₦10,000 sale, 1.5% is ₦150.

The cap

A good provider caps the fee so large transactions don't cost a fortune. With a ₦2,000 cap, a ₦1,000,000 payment costs ₦2,000 — not ₦15,000. Always check whether there's a cap; it matters enormously for big tickets.

Hidden costs to watch

• Setup or monthly fees — you shouldn't pay to exist. Look for ₦0.
• Payout/withdrawal fees — some providers charge to send you your own money.
• Chargeback fees — for card disputes.
• FX spreads — if you touch other currencies.

Net vs gross

When a payment succeeds, your net is the amount minus the fee. Make sure your accounting records net, and reconcile against the provider's reported fee per transaction.

Our approach

We keep it to one line: 1.5% per transaction, capped at ₦2,000, with no setup or monthly fees. Bank transfers, a business account, and payouts are included. Simple enough to put on a sticker.

The rule of thumb: if a pricing page needs a spreadsheet to understand, be suspicious.