Nigeria’s fintech landscape has undergone a remarkable transformation, evolving from a modest number of players in the early 2000s to over 400 operating across more than 12 verticals today. At the heart of this digital revolution are payment gateway providers—technology enablers that allow businesses, governments, NGOs, and other entities to accept payments online via cards, bank transfers, USSD, digital wallets, and more.
Below are the top 10 payment gateway providers shaping Nigeria’s digital economy in 2025:
1. Remita
Launched in 2005 by SystemSpecs’ subsidiary, Remita Payment Services Limited, Remita stands out for its scalability, resilience, and wide adoption. It is the official gateway for Nigeria’s Treasury Single Account (TSA), endorsed by the Central Bank of Nigeria. Remita processes over ₦60 trillion annually, serving SMEs, corporates, NGOs, fintechs, religious institutions, and government agencies.
2. Paystack
Founded in 2015 and acquired by Stripe in 2020, Paystack has become a staple for startups and growing enterprises. By July 2024, it recorded a landmark ₦1 trillion in transactions in a single month. The platform provides seamless integration and supports a wide range of payment channels.
3. Flutterwave
Established in 2016, Flutterwave has expanded across Africa and globally. It supports card payments, mobile money, USSD, and bank transfers in multiple currencies. In 2024, Flutterwave processed a whopping US$31 billion in transactions, cementing its status as a continental payments leader.
4. Interswitch
A pioneer since 2002, Interswitch transitioned from card switching to full-scale digital payments. Its gateway enables robust online collections through various channels. In March 2023, the company processed over 1.2 billion transactions, showcasing its operational scale.
5. Seerbit
Founded in 2019, Seerbit aims to bridge Africa’s online and offline payments gap. Its gateway supports collections via cards, transfers, and wallets. As of 2025, Seerbit operates in 12 African countries, expanding its reach across the continent.
6. Fincra
Launched in 2021, Fincra provides businesses with a suite of APIs for accepting and disbursing payments locally and globally. Licensed for international money transfers, Fincra processed over US$10 billion in transactions between 2023 and 2024.
7. Kora
Originally a blockchain remittance platform, Kora pivoted in 2017 to provide B2B payment infrastructure. It now offers a full stack—gateway services, virtual accounts, card issuing, and more—across Africa, enabling transactions in multiple currencies.
8. Moniepoint
Started in 2015 as TeamApt, Moniepoint’s Monnify gateway powers merchants with multiple payment options. The company processes around US$17 billion monthly, underlining its dominance in Nigeria’s payment space.
9. eTranzact
With roots dating back to 2003, eTranzact’s Webconnect gateway supports digital collections via cards, bank transfers, and USSD. Known for prompt settlements and an intuitive dashboard, the platform processes trillions of Naira annually.
10. HabariPay
A fintech arm of GTCO, HabariPay launched in 2021 with its Squad gateway. The service empowers businesses with flexible collection options. In 2024 alone, Squad processed over ₦27.4 trillion, demonstrating rapid market traction.
Conclusion
As Nigeria deepens its digital economy, these top 10 payment gateway providers are leading the charge—enhancing financial inclusion, powering e-commerce, and enabling seamless cross-border and local transactions. Whether for startups or large corporates, choosing the right payment gateway is more crucial than ever in today’s fast-paced digital environment.
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