Now you have a professionally designed website, and professionally packaged goods and services, and you realize that most of the visitors to your website are not converting from visitors to buyers. So the come to your shop(website), walk around and just leave without purchasing anything.
You increase the money you spend on adverts, and increase the traffic flow to your website only to realise that the money you just added to your advertising budget has not made a proportionate difference in your income from products/services.
After looking closely at your web analytic tool, you discover that most people are leaving your website on the page where you show them payment options, and then you realise that most people are discouraged when they discover the only way to pay for your services is either to pay into your bank account, give you cash, or send you a cheque.
You go to a credit card provider's website to register as a Merchant, and to your dismay, they don't allow applications from Nigeria (as do many other online payment processing engines, e.g. PayPal), and you watch as more and more visitors trickle through your website without making any purchase from you. You try to get information about how to go about getting this services, and the only resources you can find are those that offer you the "opportunity" to own an American Bank Account, and try to convince the providers that you are not a business in Nigeria, but an American business. And after a couple of month of this rather 'obvious' deception, you are banned and your funds trapped in the payment company's coffers.
Do not be discouraged, there are other options you can actually use to legally and transparently setup online payment gateways on your website.
Payment options for Nigeria
Interswitch: This switch company links all the 24 banks in Nigeria, and thus has the biggest circulation of cards.
E-Tranzact: This is the other major switch company in the country, and controls a very small percentage of the card market. However it has a robust payment infrastructure both on PC and on mobile.
VISA: This is argueably the biggest credit card company in the world. They don't currently support credit cards in Nigeria, however you can obtain a debit card from one of their partnering banks. You can also setup merchant accounts with any of the accredited Institutions.
Cash: This is the oldest and standard medium of paying for most goods and services.
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