We (ScholarX) use Paystack and honestly 1.5% is very fair. We use a different service in Ghana and they charge 3%
I don’t know how they could charge lower than 1.5%. Especially in this tough business claimate. Just think about the regulatory hassel they have to go through. We are all in business to make some profit na
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Interswitch asked us to pay N150,000 to implement last year 
Paystack charged us N0.00
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If you don’t mind, add me!
Most people don’t want porn written all over their transaction history.
A quick workaround would be to enable Wallets for all users just like Namecheap. Users get to refill their wallets using Bitcoin.
For a quick transaction flow plus profit advantage, simply implement a Bitcoin exchange service on the platform.
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Thanks for your response, but it does not address the point I was making.
What I mean is…
I understand that the payment processors have have to make money, no one is arguing with that. I also agree that 1.5% is fair in a lot of situations. I also know that payment services offer discounts based on volume. That’s all fine.
All I am saying is, put a simple toggle switch in the settings that allows each merchant decide wether to pass on the fee to his users, or the bear the charges. Simple.
Lots of other services offer this option, simple toggle of a switch and you are sorted.
The reason for this is very simple. Lots of people always think that online payment only involves trade in goods and direct payment services, but there are many other services that could open up to you if the merchant was given this choice. For instance, if I am offer stockbroking services or any other service that requires that my customers fund an online wallet, they will be getting same value for their deposit, you are then asking that merchant to do more work trying to calculate the 1.5% + 100 NGN, because the stockbroker simply cannot absorb that, since he is not actually selling anything. If you gave the stockbrokerage firm the option of passing on the fees to the customers, then all is fine. Customer deposits 50k into his online stockbroker account, and he gets 50k exactly, your fee is paid by him/her. There are hundreds of other businesses like this.
I hope I made sense? Cheers.
There is a thriving adult industry in Nigeria, all local content. They even sign deals with PornHub for internet infrastructure to deliver the goods all over the world.
e.g.
This guy is a Porn entrepreneur in Nigeria, 179k followers on instagram.
Yes you communicated your thoughts well.
As a customer however, I appreciate the website I am dealing with telling me exactly how much I need to pay for a service before I hit the Pay button (that either sends me to a third party gateway or charges my saved details). I have actively transacted on numerous websites over the past 10 years and haven’t found one that flirts this simple rule.
The extra work you say is involved in computing the transaction charge is one that is carried out just once. If I can’t trust the service provider to do this (because it’s “extra work”), how can I trust them to put in the work required to fulfill what I’m about to purchase?
A toggle on the payment gateway’s end is an easy solution for lazy online businesses that fails to take into cognizance the transparency an online shopper expects, and only serves to add an extra hurdle to an already tedious drive to make adoption of online payments ubiquitous.
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@xolubi I get your point, but what does it hurt to give your own customers flexibility? Creating the toggle switch doesn’t mean the customer making the payment will not know how much he gets to pay at the end of the transaction. There are several ways this can be communicated to the payer before he/she hits the pay button.
One use case where a toggle switch will help is Managing item exchange / refund into a loyalty card or ewallet. If the payer knows how much of the payment is for credit card fees, then it’s easy to explain why a refund into a loyalty card or ewallet is lower than what was actually paid or why he can only exchange for a certain value.
Putting the toggle skirts all of that with a lot of assumptions.
- That the merchants will communicate accordingly to their customers
- That the merchants will communicate accordingly to their customers
Do you see where I’m going?
If they are already going to communicate this, then the toggle isn’t really solving a problem as they don’t need it - their communication can be implicitly complete. For instance, I pay for some service that has a clearly stated “N100 transaction fee” before I hit Pay (like a lot of things you pay for using Quickteller today), that is actually implicit communication that doesn’t have to be explained further.
Of note is the fact that these are my opinions and not official statements from Paystack. Of course chances are my opinion of what I consider ideal will often find its way into the product.
We consider our customers’ customers our customers too. 
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In one part, using Barter’s disposable ATM cards will solve this problem.
I remember that sometimes last year, VoguePay’s development team was musing on developing a voucher/gift card, which can be adapted for this use case. (Sometimes, you develop a product for a different reason and your users have something else in mind 
)
This is how to implement this on VoguePay if you use the platform to accept payment.
https://i2.wp.com/voguepayblog.com/wp-content/uploads/2016/06/9c.png?resize=920%2C618
It is important to expressly communicate to your customers that you are passing this addition fee to them. You want to do it like this.
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Brilliant!! In addition, its a function of an opportunity cost. While we look at the side of the merchants, we must have a balance on the side of convenience too.
So merchants have to make up their minds, because whether they like it or not, there are sure possibilities that merchant stores that have online payment integrations are likely to make more conversions if not now, def in the long run. Its a sure bet.
There actually is… Google freethinkers production… I am the ceo and I need investors… I have all the models and everything… Just need a distribution channel and marketing strategies
Hi,
Rave doesn’t seem to have a cap on pricing. OR I’m the one not seeing it.
Hi, the cap is N2,000
safetrade.ng