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Interswitch Nigeria: Lower your Webpay entry fees

Oluniyi D. Ajao

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2 min read

What is InterSwitch about? According to their website:

InterSwitch Limited is an electronic transaction switching and payment processing company with a business footprint that covers the provision of shared, integrated message broker solutions for financial transactions, e-commerce, telecoms value-added services and e-billing in the Nigerian environment.

Most of the local debit/ATM cards issued in Nigeria are linked to the InterSwitch network about 9 million cards. 23 out of the 25 banks in Nigeria linked to the InterSwitch network and issue InterSwitch-backed cards as well. One can thus understand the huge potential for any web merchant that accepts payment from InterSwitch cards, via the Internet. Nigeria has an official population of about 140 million and this shows that there is a big possibility that the number of InterSwitch cards will increase even further.

The product from InterSwitch that enables web merchants to accept payment online in real-time from InterSwitch cardholders is known as WebPay.

WebPAY is a secure internet payment gateway developed by InterSwitch to facilitate payments on the internet (across various banks) using debit cards issued by banks on the network. Currently only the Nigeria Debit Card and CashCard are supported. WebPAY provides the simplest and quickest method of integrating e-commerce websites to the InterSwitch payment platform.

WebPAY plugs-in seamlessly with existing websites and acts as abridge between a merchant’s website and financial institutions (banks) that process payment transactions.

Now, this is the problem: A merchant needs to cough out a whopping sum of N150,000 (about $1,250) to get the WebPay API for his/her website. Aside that, InterSwitch makes 1.5% on every transaction that passes through WebPay. In my opinion, no justification for the high entry fees. To the best of my knowledge, it is the only thing that has kept most web merchants away from InterSwitch. Simple economic principle: Lower your entry fees, have more merchants on your network, make more money from the transaction fees.

The closest competition to InterSwitch is Etranzact. Their entry fees is only marginally lower: about $1,050. Perhaps we need Visa and Mastercard to knock this folks to size.

Are you a web merchant in Nigeria? What are your thoughts?

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Oluniyi D. Ajao Avatar
Oluniyi D. Ajao
Oluniyi D. Ajao is an Internet Entrepreneur and Tech Enthusiast. Follow him on X (fka Twitter) @niyyie for more tech updates.

Comments

  1. TechSuplex | MTN eyes Interswitch, launches Mobile Payment Platform: – TechSuplex

    […] have been a talking point lately thanks to the perceived issues with Interswitch which is the dominant operator in that space. With MTN now officially a player in […]

    Reply
  2. Damola Avatar
    Damola

    Is there any payment gateway that accept any payment card, accept payment worldwide and at the same time do business in Nigeria. If not, what payment gateway is the closest to these requirements and what are there requirements? Thank you.

    Reply
  3. We Hate Interswitch So Much That We’re Going To Disrupt Them | TechLoy

    […] rates of connecting to its payment gateway. The word on the street is that this sort of connection costs NGN150,000. Interswitch is promising to bring it down to as low as NGN50,000, for SMEs. Let’s give them […]

    Reply
  4. Atere Avatar
    Atere

    Things can only get better. Nice thread, good blog. Plz, can I get any developer to hook up with? I m working on an ecommerce online shopping project and I m at the point of integration to a payment system.
    Kind regards

    Reply
  5. Bigtt76 Avatar
    Bigtt76

    Hi Folks,
    Nice thread. Anyone tried Pay4Me (www.pay4me.com) its not a new Payment Gateway though as they’ve been there since 2009 and they currently handle all payment transactions for the Nigerian Immigrations and other Governmental and Non-Governmental agencies.

    I think they are quite ok as they also provide integration to Interswitch, VISA and Master Cards.
    Regards
    Temi

    Reply
  6. Obie Avatar
    Obie

    I’m working on a site that that needs online booking, which should support local and international payments. I gathered that Interswitch is 150K to set up, but what about Visa card and Master Card. Pls will really appreciate info on this. Thanks

    Reply
    1. Anthony Avatar
      Anthony

      Two words, cashenvoy.com , they are an online payment gateway that just started, you should try taking to them, its free to sign up too.

      You could use that plus google check out or paypal so you can accept both.

      Reply
  7. Kelechi Avatar
    Kelechi

    *There do not appear to be any other modern banks attempting a solution – just correcting grammar folks.

    Reply
    1. Stan Avatar
      Stan

      We are currently working on a mobile and web-based Third-Party Payment Aggregation platform in the mode of 2CO or Plimus. The idea is that: we pay integrate with Etranzact, InterSwitch, PayPal, Credit Cards. We collect the funds for our clients from all possible sources. Websites integrate with us. Integration is FREE. We are looking for investors/collaborators.

      Reply
  8. Kelechi Avatar
    Kelechi

    The same problem besets us. I am interested in developing web solutions for a few friends and genuine marketable payment solutions for myself.

    The discussion here is engaging. I enjoy Nigerian citizenship and live and work in the United Kingdom and I also find the restrictive nature of entry to online transactions for Nigerians very frustrating.

    I wonder if we cannot implement PayPal-style solutions for the web ourselves? At the very least we can band together into some kind of action group and canvass Nigerian banks directly to implement these solutions for her customers and citizens. Apparently except for GTPAY, there does not appear to be any other modern banks attempting a solution. That’s a shame.

    Reply
  9. kayode osinulu Avatar
    kayode osinulu

    Hi every one! i work with eTranzact and quite appreciate the comments that have been made so far.

    i will assure who soever is interested that i would personally seek management’s approval for a lower charge on set up for web connect.

    You will however agree with me that set up requires man power and our staff should be compensated for what they do. i can also sign up every TOM and Harry that indicates interest (considering the “Nigerian” factor!)
    you are probably thinking… why not just do the necessary KYC and get them signed up, But the more you need to verify, the more work and it all winds up in a loop.

    Thank you

    Reply
  10. Dan'Asabe Avatar
    Dan’Asabe

    Please im interested to being a merchant,and here are the features i needed in the process:
    1) ability for my clients to pay and obtain pin or voucher from the bank and much later load same voucher in my web site to be abale to get a payment of either liberty and or other services.

    2)A sincere web site developer in nigeria or abroad that can handle such integration and at a cheap price please.

    Finally, icame across your web site and its quite friendly and educative please keep the good job and stay bless.

    Reply
  11. ademola Avatar
    ademola

    i want to know how to link a liberty reserve to gtbank using SCI API xhtml configuration

    Reply
  12. Hassan Avatar
    Hassan

    I am currently working on a mobile application as a POS which payments will be accepted by the use of debit cards (ATM) like Mastercards, Visa, verve through the mobile phone and at the same time transactions will be processed and upon completion: Result will displayed on the screen of the phone indicating a successful or failed transaction. Sellers account will be credited and buyer’s account will be debited

    I NEED A PAYMENT GATEWAY API that can suit this Application of mine.

    Thanks

    Reply
  13. princely Avatar
    princely

    Yes,i have read all of you blogs and they are pointing to one thing but it seems that there has not being any tangible solution to this problem but i want to contribute my own their is this site that is reliable and can help in our e-commerce. try it by clicking here virtualterminalnetwork.com/Invite.asp?ID=103981

    Reply
  14. james Avatar
    james

    1naira-auction.com accepts interswitch and GTpay
    1st auction site in Nigeria

    Reply
  15. Ofebaba Avatar
    Ofebaba

    Pls,how do i recieve payments online through interswitch,such that the money will go directly to my bank account. What survey sites pays nigerians through interswitch

    Reply
  16. Victor Amokeodo Avatar
    Victor Amokeodo

    Moderator: I posted this yesterday. Nit sure whether it was removed or whether it did not go through, but it is central to this discussion and not SPAM. I have left details, so you may notify me if I have broken any terms and conditions.

    Hello All,
    I am currently working on a solution to this problem. I am a UK-based Nigerian who has been building eCommerce applications for several years. Our most popular product is EasyWare B2B Commerce which was built originally for the European and The American markets. It has been commercially operational for more than 3 years and remains among the most popular ecommerce products targeted at small and medium-sized companies. We decided – a few months ago – that time is ripe for us to adapt the software for the Nigerian market. The aim of this is simple: we want to make ecommerce a mass-market industry in Nigeriaby removing the cost of integrating Interswitch, eTranzact and GTPay to merchants web sites.

    We are currently working on this solution Nigerian version. Anyone who would like to test the Beta version (using GTPay) may download the software at: http://www.easyware-ng.com/downloads/ecommNG_7_001_free.exe

    If you would like to see the original working versions (for Europe/US) you can download an evaluation version at: http://www.easyware.co.uk/downloads.php

    Hopefully, this will help resolve this problem of expensive integration facing Nigerian merchants.

    Reply
  17. Victor Amokeodo Avatar
    Victor Amokeodo

    Apologies all – I forgot to add to the above post: the aim of EasyWare Nigeria will be to change the cost of implementing ecommerce from $600 to $0.00 and to reduce the implementation time from weeks to minutes.

    Also the first line of the above post should read: “I CAME across this blog…”

    Regards

    Victor

    Reply
  18. Victor Amokeodo Avatar
    Victor Amokeodo

    Hello All,
    I am across this blog while researching the state of e-commerce in Nigeria. I found the discussions very interesting.

    I am a UK-based Nigerian who has been building e-commerce applications for several years. Our most popular product is EasyWare B2B Commerce (www.easyware.co.uk/ecommerce.php). EasyWare B2B Commerce allow everyone – even the worst technophobe – to build and deploy fully featured ecommerce stores in minutes.

    EasyWare B2B was built originally for the European and The American markets. It has been commercially operational for more than 3 years and remains among the most popular ecommerce products targeted at small and medium-sized companies. We decided – a few months ago – that time is ripe for us to adapt the software for the Nigerian market. The aim of this is simple: we want to make ecommerce a mass-market industry in Nigeria.

    We are currently working on the Nigerian version, but anyone who would like to test the Beta version (using GTPay) may download the software at: http://www.easyware-ng.com/ecommNG_7_001_free.exe
    If you would like to see the original working versions (for Europe/US) you can download an evaluation version at: http://www.easyware.co.uk/downloads.php

    At some point in time we will seek advice, partnerships etc. and we hope this blog will prove helpful for this.

    Reply
  19. Poetiri Avatar
    Poetiri

    Quite interesting. Any new developments or updates?

    Reply
  20. royston Avatar
    royston

    My team has come up with a solution by the grace of God. By mid next year (2011) ‘everybody’ would be able to afford webpay services. God has divinely inspired us

    Reply
    1. Oluniyi David Ajao Avatar
      Oluniyi David Ajao

      Praise God!

      Reply
      1. tim Avatar
        tim

        A sarcastic “praise God” i would say!
        Mr. Oluniyi,i would think, your interest online, and for technological advances should have gotten you hands and feet into the nether, dredging up solutions or what looks like it for the Nigerian market. Anyone who does cant safely rest from money worries.

        Reply
  21. LAWAL Avatar
    LAWAL

    Hello!

    I thinks moderator is doing a great job here but, I just want him to protect this beautiful website a bit more so that guys wouldn’t just trash it anyhow. I transparently without any means read your server source code and which is very malicious and dangerous to the health of your service to the public, if there is any serious data capture service therein.

    Thanks and God bless!

    Lawal

    Reply
  22. Ajayi Oluwaseun Emmanuel Avatar
    Ajayi Oluwaseun Emmanuel

    Sorry Anthony. paypal wont let Nigerians sign up, so you have to stay with intersitch if u intend to accept payments from Nigerians

    They seem to be the major player for now, but trust me, it wont last. A time will come when they beg you to signup for free, I await that time.

    For your info, the company is also arrogant when integrating.

    For instance, it is known worldwide especially online that green means go, successful, positive etc. while red is the opposite.
    for interswitch, blue is it. (we all know blue text means hyperlink)
    that shouldn’t be an issue but it is to me when you blankly tell me to modify my website to reflect what your company thinks is right, “Show successful orders as blue or we wont activate you”.

    thats one i can remember.

    Reply
  23. Anthony Avatar
    Anthony

    Mann just reading all your posts have fruestrated me. $1250!!! how can anybody afford this other than bing companies? I am glad and surprised nigrians & ghanians are blogging like this.
    But am trying to make a website to accpet payments, il just go with paypal. Does any one know if you can get verified wit nigerian banks? Also do nigerian credit cards work on paypal?

    This is a ip off in canada companies only charge $30 a month and thats it.

    Reply
  24. Ajayi Oluwaseun Avatar
    Ajayi Oluwaseun

    As a security conscious developer, having work with both systems(i.e integration), interswitch and gtpay, I will recommend interswitch anyday.

    though expensive, it is more secure and safe to use.

    Reply
    1. Godwin Eboh Avatar
      Godwin Eboh

      Please keep quite Mr. Ajayi, and stop deceiving people here. Yes, you did say you are a security conscious developer. What you didn’t say however, is that you work at Interswitch (the big frauds). So stop coming here to deceive people. In fact, here is your Linkedin profile:
      http://www.linkedin.com/ppl/webprofile?vmi=&id=66000600&pvs=pp&authToken=qFBz&authType=name&locale=en_US&trk=ppro_viewmore&lnk=vw_pprofile

      I once worked for an agency that required connecting the Interswitch API for a client’s Website. Infact, I worked
      directly with you. And you guys make hell for customers and agencies seeking to hook up the API. Why should anyone take your word for it?

      Reply
  25. Chinedu Avatar
    Chinedu

    Pls Nigerians open your eyes. it gives me so much tears when i see posts like this. it is painful to see when pple are looking for solutions when they dont know he real prolemn. I have one word for all of you

    “Globalization”

    Think about it in this regards; Good or Bad for Developing Countries..

    Pleas Creative pple like you guys should always put this into consideration. Stop begging master card to come for the love of the black race. CREATE YOUR OWN!!! AND MAKE IT FUBU PLEASE!!!

    Reply
  26. Femi Avatar
    Femi

    Max is not too far off the mark there. I am not a marketer for GlobalDosh, but as I use the system myself and receive payments within Nigeria and globally with my GlobalDosh Account, I guess it is in my interest that more people use the system and are aware of the system. In that regards, you can consider me as a promoter, albeit, unpaid one and not the employ of GlobalDosh.com.
    Call me a preacher spreading the word about a service that is easy to use and has a pedigree in Nigerian market.

    Reply
  27. Max Avatar
    Max

    I’m developer looking for a payment solution for my clients.
    Having read the posts, I’m just wondering what connection Femi Olajide has with this GlobalDosh guys. Are you a marketer or something?
    Anyway, I’ll check out all these options to determine the best, but I must say that its really amazing that a country like Nigeria doesn’t have many reliable but not to expensive web payment solution providers.
    All the same, thanx guys for the thoughts

    Reply
  28. Femi Olajide Avatar
    Femi Olajide

    Re: Post 46

    Hi Lekan,

    Cheap and no sign-up fee service is available @
    GlobalDosh.com

    Regards,
    Femi

    Reply
  29. Femi Olajide Avatar
    Femi Olajide

    Re: Post 40

    Dear Gabriel,

    SMS payment exists in Nigeria. The first SMS payment was launched by FinBank(then, first atlantic)under the brand Flash Me Cash. It is still running well today.

    firstinlandonline.net

    I normally, load my GlobalDosh eWallet with it all the time.

    Regards,

    Femi

    Reply
  30. Femi Olajide Avatar
    Femi Olajide

    Re: Post 39

    This information may be old now, but, try using gdproxy.com/WHostSpecial.htm
    Your hosting will be up and running within 4-5hours.

    You can also pay locally using the eWallet provided by GlobalDosh.com

    Regards,

    Femi

    Reply
  31. Femi Olajide Avatar
    Femi Olajide

    hi All,
    Re: Post no 35
    ODA, I think your response is wrong there.
    Interswitch purports on their website that you can make these payments through their side-kick, cashcard. However, I have tried the service before and it did not work.
    You see the problem with Interswitch is that they tried to bite too much than they can chew.
    If Interswitch wants to be a switch to banks, then it should stick to that and leave marketplace to develop third-party applications for whatever is popular with the consumers.
    There is definitely a conflict of interest in my opinion, where the switch company is also promoting consumer products like cashcards etc.
    You can’t be providing a service to the banks and then, start competiting with the bank to use that same service(I am talking about card-issuance).

    Until, a clear direction is given in terms of distinct division of labour between all stake-holders, the on-going furore and confusion will persist.

    Regards,

    Femi

    Reply
  32. Laj Avatar
    Laj

    Hi George,
    I think your idea is fab and I’d be willing to put down money to make it work. If you’re serious pls email me laj00 at hotmail dot co dot uk.

    Reply
  33. Femi Olajide Avatar
    Femi Olajide

    Hi guys,

    I haven’t been to this site for quite some time and my last post was probably back in 2008. I am amazed that people are still bothering themselves with the flip-flop transactional engines operated by either Interswitch or eTranzact.
    globaldosh.com is what I used to collect my payment from clients within and without Nigeria. I don’t even have a website yet, but I work freelance by reference mainly.
    You do not even need to pay to open an account. It’s free to open a regular account, inform them that you want to upgrade to merchant by email and presto!. You can receive money into your account worldwide through bank,paypal, western union etc

    If you are a shopper as well, their is more security as globaldosh guarantees delivery of your service and/or goods or your money back.

    Some of the benefits are as follows:
    – No set up fee
    – No programming
    – Payment made directly into your nominated bank account on request or by cash or cheque
    – A percentage is charged on withdrawal only
    – No monthly charge
    – No transaction charge
    – GD points used, so no need for multi-currency manipulation
    – Free money transfer worldwide
    – Subsidised website-hosting for account holders only
    – Executive services for account-holders
    – You can view your GlobalDosh account in real-time.
    ensure
    – Their website is hosted on the internet’s backbone, hence, very fast
    – Simple and easy to use
    – Live administrators to guide you through.

    That is my bit. I hate to come back in another year and still hear people grumbling about Interswitch,GTPay, eTranzact etc

    All the best,
    Femi Olajide.

    Reply
  34. Ben Avatar
    Ben

    sorry i want to know if there is anyone who can help with webpay integration i am trying to integrate thanks

    Reply
    1. Zee Zhao Avatar
      Zee Zhao

      yes, i can.

      email me at: zee at saibatek dot com

      Reply
  35. Gabriel Avatar
    Gabriel

    Hey guy, I’m currently working on my website and should be up and runing by November but you can still check out the holding page. If any of you guys know more about gayment gateways in Nigeria please share your thoughts, i am currently integrating the WebPay by interswitch, i understand that there other gateways such as Etranzact and GTBank. if you have and advice on this please contact me on my email: gakinfenwa [at] hotmail.co.uk. And also i’m looking for a set of skill individuals to work with on my website, if you are intrested please contact me, i will be coming down to Nigeria by the end of this month maybe we can have a chart. cheers!

    Reply
  36. Olubukola Moses Avatar
    Olubukola Moses

    i will like to know if GTpay really works and if i can easily implement it on magento ecommer though i saw a Gtpay payment gateway module for sale on this site http://softdb.eu/gtpay-gtbank-magento-payment-gateway-p-34.html i hope it works with and how can i go about it.

    Reply
    1. Oluniyi David Ajao Avatar
      Oluniyi David Ajao

      I am not sure if the Magento module works well or not. I suggest you ask them for a demo.

      Reply
      1. Zee Zhao Avatar
        Zee Zhao

        I have implemented both Interswitch/WebPay/GTBank and Etranzact for drupal/ubercart ecommerce system before. So if you need something on this, please contact me via email. Thanks.

        Reply
        1. Olumide Avatar
          Olumide

          Thanks Z!
          And what’s your email address…?

          Reply
          1. Zee Zhao Avatar
            Zee Zhao

            sorry… its:
            zee at saibatek dot com

  37. agbalaya olubodun Avatar
    agbalaya olubodun

    Hmm, really thinking of somthingi feel could work ( i mean an innovation not an interswitch hack) it definately wouldnt require infrastructure …..
    get back to you guys

    Reply
  38. agbalaya olubodun Avatar
    agbalaya olubodun

    David georges idea is not out of place, it really isnt, just involves time resources and commitment

    Reply
  39. lekan Avatar
    lekan

    I am so pissed looking for a cheap payment solution for small biz

    Reply
  40. williams Avatar
    williams

    it will be nice if we can register our debit card online

    Reply
    1. Oluniyi David Ajao Avatar
      Oluniyi David Ajao

      You do not need to register your card online. Don’t get scammed. Approach your bank for Internet Banking service if you want to monitor your accounts/cards online.

      Reply
  41. George Avatar
    George

    I believe if we could form a sort of online merchants association, we can effective combat interswitch. I don’t think there is much infrastructure required to run the online payment system, it only involves programming knowledge and the integrity of the person or people involved.

    If we all come together, employ a programmer to write a script that manages accounts online, it will be hosted on a secured server on the internet. All we need to do is gather money, pay for one interswitch or etranzact account.

    When a person signs up for out payment gateway, he is assigned virtual fund in his account. The transaction is carried out through interswitch. Just like paypal,

    Someone should please pick the idea and work on it.

    Reply
    1. Oluniyi David Ajao Avatar
      Oluniyi David Ajao

      I am not sure Interswitch would approve the implementation of your suggestion George. The bottomline is my view, is for us to collectively mount pressure on Interswitch to lower their fees.

      Reply
  42. sharks Avatar
    sharks

    I am interested in using the interswitch Webpay API for my business but really don’t know how to go about it. I have sent them a mail but still no reply…
    Please can anyone tell me how to go about it?
    Are there any special requirements or do I only have to cough out N150,000, sign some agreement papers to give them 1.5% from my hard earn cash?
    I’ll be very greatful to receive an explanatory reply.
    Thanx!

    Reply
    1. Oluniyi David Ajao Avatar
      Oluniyi David Ajao

      I assume you have a registered company and a bank account in the name of your company. Therefore, I suggest you speak with your bank as it is possible they can assist you with an InterSwitch merchant account. Emailing InterSwitch directly seems to be a fruitless exercise. Mails sent the email on their contact page info[at]interswitchng.com bounces! 😡

      Reply
  43. Gabreil Avatar
    Gabreil

    You have not answered my questions in my privious comments, and like i said i will be in Nigeria this weekend if any of you guy are intrested in hooking up.

    Reply
  44. Gabriel Avatar
    Gabriel

    What do you know about VTN?

    Reply
    1. Oluniyi David Ajao Avatar
      Oluniyi David Ajao

      I know VTN is a brain-child of Graphcard in the USA and targetted at residents of Nigeria.

      Reply
  45. Gabriel Avatar
    Gabriel

    Hi guys, i’m pretty new to this site but i have read all your comments and i find it intresting. i actually reside in the UK but i am very much intrested in the Nigeria market, infact im about to start my own online business but as you all have said, the only problem is finding a reliable payment geteway.

    Guys i will like to ask you if you know anything about SMS payment gateway, does it that technology exist in Nigeria? because im partialy reliying on it, infact i will be coming to Nigeria this weekend and i will like to meet you guys and shere ideas. If any one is intrested leave a message here and i will get back to you.

    Reply
  46. Kelvin Nnamdi Avatar
    Kelvin Nnamdi

    Dear Friends,
    I just tried to pay for a domain from NAIRAHOST i went to the bank and paid its 3days now and the domain hasnt been registered where can i buy a domain from a legitimate nigerian company….

    Reply
    1. Oluniyi David Ajao Avatar
      Oluniyi David Ajao

      You should contact Nairahost, Kelvin.

      Reply
  47. Obi Avatar
    Obi

    Technolgy is not the issue here for my programmer friends i think to get the right infrastructure in place takes a little more than java,c++ or what ever programming language out there, the politics, economics and other things about buisness has to be factored in, and believe me its far more complicated than u think.

    Reply
  48. Adisa Oladimeji Dauda Avatar
    Adisa Oladimeji Dauda

    is there any idea or advice you cauld give if a private organisation want to make use of their service as a means of receiving or making payment

    Reply
    1. Oluniyi David Ajao Avatar
      Oluniyi David Ajao

      I suggest you visit their website here: http://www.interswitchng.com for everything you need to know about them or talk to your bank.

      Reply
  49. Adisa Oladimeji Dauda Avatar
    Adisa Oladimeji Dauda

    please I need the addrees of interswicth in lagos for enquires

    Reply
    1. Oluniyi David Ajao Avatar
      Oluniyi David Ajao

      Their official website is at http://www.interswitchng.com I suggest you visit the contact page on their website.

      Reply
  50. kingsley Avatar
    kingsley

    how can i send money from one bank to another bank all in Nigeria using ATM card on line?

    Reply
    1. Oluniyi David Ajao Avatar
      Oluniyi David Ajao

      Kingsley, I don’t think that is possible presently.

      Reply
  51. Pat Nevin Avatar
    Pat Nevin

    Dear Bloggers,

    This is may not be the right forum for what I have attached below, however if you are an inter switch customer you may want to read the attached and notify your appropriate contacts accordingly. If this looks like 419 and feels like 419, it must be 419. BEWARE 😡

    Attention Card Holder,
    This is to notify you that our services are being upgraded to a new, better and more secured system . You are now required to CLICK HERE and register all your DEBIT CARDS, X-CHANGE CARDS, and CASH CARDS online IMMEDIATELY so as to enable your card to work on our new servers. Only registered cards will work with the ATM machines.

    Note that in order to continue using your card for ATM transactions, you MUST register your card(s) online IMMEDIATELY BY CLICKING HERE .If you do not register your ATM card(s) immediately, you will no longer be able to use your cards with the ATM machines or for ATM transactions and your card(s) will be cancelled or terminated.

    Adhere to this instruction on receiving this message and click here immediately to register your card. Our goal is to satisfy all our customers need.

    InterSwitch Nigeria Limited

    Reply
    1. Oluniyi David Ajao Avatar
      Oluniyi David Ajao

      @ Pat Nevin, there is a post that that here: Beware of fake interswitch emails

      Reply
  52. Kester Avatar
    Kester

    I believe online payment is very vital to the growth of our economy.

    Howbeit, Interswicth charges are on the high side and does not encourage growth in ecommerce in Nigeria. I think, like most greedy Nigerian, they are capitalizing on lack of competition and the fact that most foreign e-payment like paypal firm do not accept Nigeria merchants.

    Reply
  53. Kay Kay Avatar
    Kay Kay

    This thing is just my headache at the moment. Meanwhile, after the initial 150K, do you have to renew at anytime??

    Reply
  54. Simua Avatar
    Simua

    Most of the 25 banks offer Visa & MasterCard, Why reinvent the wheel? Why not signup for a 2CO (www.2checkout.com) account, they accept payments from Nigeria and also signups from Nigerian merchants. Forget interswitch!!!

    Though it is not directly tied to your bank account, they can get your funds accross to you in a variety of ways that even includes a reloadable 2CO MasterCard (debit card).

    Reply
  55. Femi olajide Avatar
    Femi olajide

    Hey guys,

    I concur with this guy below. Nigerians always wants to keep with the jones & use latest technology etc. While the basic infastructure which supports these systems are not in play.
    electricity, good roads etc are and far and few between.
    A system like GlobalDosh.com (www.globaldosh.com) which I & other Nigerians have been using for the past 5 to 6 years to send money to Nigeria and other friends have been using to buy things guaranteed for delivery in Nigeria.

    -What is the good of having a real-time online transaction when NEPA(or whatever it’s called)takes light in the middle of the transaction?
    -What is the sense when a seller refuses to accept Mastercard/Visa issued by the banks in Nigeria( e.g Amazon, paypal etc will not touch cards issued in Nigeria)?
    -what is the use when you make payment online and seller then tells you they don’t deliver to Nigeria?
    -What is the use of interswitch/etranzact if it is not internationally accepted? And not terribly reliable and secure in any case.

    We should embrace more user-friendly system that does not cause any aggro, reliable since(I know at least 6 yrs ago) and that even guarantees your product delivery to Nigeria or your money back (i.e http://www.globaldosh.com).

    -Femi

    ====Olatuni Adeoti wrote in March 2008=======
    Nice commentary on the two system. Both eTranzact and Interswitch are bringing ecommerce to Nigeria.
    However, they are only accepted in Nigeria.
    there is a company I use all the time for payment from Nigeria called GLOBALDOSH(www.globaldosh.com) who allows payment to be made worldwide from Nigeria. I even load my GlobalDosh ewallet with Interswitch.

    Reply
  56. ayo folajimi Avatar
    ayo folajimi

    its intresting to know that a lot of people understand and know that Interswitch guys are ripping Nigerians off-imagine collecting a whopping 150k for sign up and another 1.5% on ALL transactons!thats probably the highest in the world, just imagine the thousands of merchants they would have if the entry cost is something in the range of 20-50k, know dozens of biz who would go online if they can effectively collect money for their services. greed is what is killing them anyway

    Reply
  57. segun Avatar
    segun

    am also a programmer,java,have you guys heard about softpurse?they have a similar mechanism,but i don’t think they are yet up to the task.a wonderful concept but still in it crawling stage,maybe if more merchants integrate in to their service they’ll give all that’s needed.softpurse.com
    easytopupng.com uses this service.where you can buy recharge pins .

    Reply
  58. Victor Christovs Avatar
    Victor Christovs

    Hi
    I forgot my pin and my bank cant realy help. what should I do to get the pin or to chenge the pin

    Reply
  59. Oluniyi David Ajao Avatar
    Oluniyi David Ajao

    Ajani Kabiru, your first port of call should be your bank. Visit a branch of your bank as soon as possible. They would assist you or tell you what to do. All the best.

    Reply
  60. ajani kabiru Avatar
    ajani kabiru

    i used my atm card to make transaction today by applying for my school program, my money was wihtdrawn [5,500]and the school did not comfirm i.what can i do and the admission is closin ending of this month.thanks

    Reply
  61. lawal Avatar
    lawal

    how does one pay using internet connection/interswitch card

    Reply
  62. Niyi Avatar
    Niyi

    Interswitch was not set up to cater for ‘retail’ merchant accounts. What we may need is a few other smaller companies who will serve as intermediaries between merchants and interswitch; a la GTpay for instance?

    Reply
  63. Kayode Muyibi Avatar
    Kayode Muyibi

    Interswitch cannot make it free because
    1. The system itself is not ready for such traffic
    2. There are a lot of security concerns regarding its current operation.
    3. There is no support infrastructure to support it.

    Reply
    1. Olumide Avatar
      Olumide

      Kayode,
      You say it like these problems are new (traffic, security concerns, Suport infrastructure). I’d have thought it was an opportunity to move the cadre a bit… upgrade, collaborate, build or find bigger infrastructure – I hear the Isrealis are so good and looking for people to put stuff on them (for a fee of course!)

      Reply
  64. Agaba Akuh Avatar
    Agaba Akuh

    Mr Agbalaya Olubodun. I am also a C++ programmer. Do you really know what it takes to build a switch payment mechanism? Mi e-mail adress is [email protected]. Kindly send me some information.
    It is so unfortunate that the mastercards and visacards and whatevercards have taken Africans/Africa for granted. But time is a fair judge. The’ve lost a big junk of what should have been their market share for possibly eva. Interswitch I guess is making the best they can. Most of this entrepreneurs don’t think like we programmers do. They spin business on a fulcrum till the point starts chipping. In our under developing countries we the enlightened ones watch and convulse in despair. I hope we don’t become disenchanted like the Achebes, but, we shall neva say die, cause we know we shall neva die.

    Reply
  65. agbalaya olubodun Avatar
    agbalaya olubodun

    hey george whats actually paypals reason for the restriction

    Reply
  66. agbalaya olubodun Avatar
    agbalaya olubodun

    hi am in support of scots idea of building our own switch payment
    am a programmer c++ java who else’s intrested out there
    w could set up the project on source forge
    contact me [email protected]

    Reply
  67. George Avatar
    George

    the entry cost ought to be completely wiped or reduced to a mere 10, 000 or 20, 000 (which is even still on a high side.) Paypal is free sign up so why can’t interswitch? its not as if they are doing you a favor. They still get 1.5% of all your transactions. The problem with Nigeria is that some people are just full of greed. And I don’t blame them. if Nigerian’s can speak with a single voice and decline from using the service, won’t the price drop?
    Well I wonder if anyone has an idea to overturn the restriction on Nigeria by paypal to enable us making and received international payments. That way we can sideline interswitch and their boddies

    Reply
  68. Christina Avatar
    Christina

    GTB say they charge 75,000 for integration into the interswitch network if you have an account with them. But that is what they say, cos Naija will never change. I have a website which needs integration into the interswitch network and i have been on GTB for the past 1 month, sending emails , phone calls and nothing from them. They just make noise that they do it, but i doubt it. I will have to cough up the 150,000 and go straight to interswitch.

    Reply
  69. Tolu Ogunsanya Avatar
    Tolu Ogunsanya

    GTPay fee is N50,000.
    Its easy for you to bellyache that Interswitch is expensive,but let me point out that they act as a clearing house,not just ATM or credit card processing company,as some of the companies in the US.Also the banking system there is not like ours.Finally VISA and Mastercard do not process credit card payments.

    Reply
  70. titi banjoko Avatar
    titi banjoko

    hi,
    i must commend you.
    pls i want to know the entry fee for cashcards?
    to me i think the entry fee is not too much looking at your potential customers but am not just in support of taking 1.5% after the 150,000 that will be collected for a start.its much.
    thanks.

    Reply
  71. titi banjoko Avatar
    titi banjoko

    hi david,
    this is a bright idea imust commend u for this.
    pls do u have any idea on the entry fee for cashcards?
    i think the entry fee for the webpay is not too much looking at potential cutomers u have but am not in support of collecting entry fee and collecting 1.5% i think that is much for a start.thanks

    Reply
  72. Marshal Sampson Avatar
    Marshal Sampson

    i want to be able to make payment with my interswitch online

    Reply
  73. Scot Avatar
    Scot

    Well, on this issue “Interswitch fee”, i think it really to much pathing way with N150,000 and 1.5percent on every transaction. i guees we should keep our brains to work on how to beat the peice down probably on building our own switch payment. it challenging but we can do it. else for now we dance to the tune of the beat.

    Reply
  74. Patrick Avatar
    Patrick

    I quite agree with u guys. The entry fees is rather too high. Its hampered the growth of e-commerce biz in this country.
    Is there a way we can bring this to the notice of Governement and even interswitch. Any medium of letting them know this is a potential gold mine thats not exploited? The convenience of e-commerce would have been embraced but for the high fees

    Reply
  75. Syl Jakpa Avatar
    Syl Jakpa

    I think in a country as ours we need govt to fast track certain things, and one of such is the epayment system, prof. Soludo attn is reqiured. what exactly can he do? I suggest that CBN set up a portal to facilitate electronic fund transaction so that small businesses can be setup to provide these API’s to web merchants. I dont see why a web merchant should part with N150,000 and 1.5% on every transaction to any coy just for providing API, how much does it cost to develop these programs? Govt must be aware how Bill Clinton’s administration created thousands of job for American through the Internet, let govt not think fraud! fraud!!, the Internet can remove joblessness from our country.

    Reply
  76. Adebanjo Avatar
    Adebanjo

    😀
    I wanted to find out if interswith cards (ATM) in Nigeria can be access through web. If possible kindly send me the web application service for validating Nigeria ATM.

    Reply
  77. Olatunji AdeOti Avatar
    Olatunji AdeOti

    Nice commentary on the two system. Both eTranzact and Interswitch are bringing ecommerce to Nigeria.
    However, they are only accepted in Nigeria.
    there is a company I use all the time for payment from Nigeria called GLOBALDOSH(www.globaldosh.com) who allows payment to be made worldwide from Nigeria. I even load my GlobalDosh ewallet with Interswitch.

    Reply
  78. Jet Philips Avatar
    Jet Philips

    What then is the solution to this online payment nightmare??

    Reply
  79. airforce one Avatar
    airforce one

    its just one thing that is needed and that is COMPETION. there is none at the moment so the market is theirs for the wacking. until we are fortunate enough to get a company to do to them what globacom did to the big boys mtn and former econet i do not see any immediate in the horizon. so if you are a web merchant and you know you have a good product to offer please look for a way to cough up the money even if it means borrowing. at least folks who bought gsm lines when the price was up there will not be complaining now by saying they wished they had not bought then but waited for it to be 80naira. lol

    Reply
  80. Gbenga Avatar
    Gbenga

    For a company like Interswitch, would its account prepartion follows the bank patterns? I beleive the services rendered by the company can be classified as financial services as well.

    Reply
  81. Oluniyi David Ajao Avatar
    Oluniyi David Ajao

    I didn’t say GTPay is not real. I am telling you “GTPay” is just a brand. It is essentially the same as InterSwitch WebPAY. What I need to know is if GTB is offering a lower fee and how much this fee is.

    Reply
  82. Oluniyi David Ajao Avatar
    Oluniyi David Ajao

    To prove its cheaper, give us their entry price.

    GTB is one of the banks behind the InterSwitch consortium and I doubt if they’d deliberately offer a lower price independently. In essence, GTPay is the same as Interswitch WebPAY and Etranzact cardholders cannot pay on that platform.

    Anyone who has more information should please share it.

    Reply
    1. Kemi Avatar
      Kemi

      Hey Hi Niyi,
      It didn’t make sense to me either that WebPAY and Etranzact cardholders CAN pay on that platform until I wanted to make a purchase online and behold they accept GTPAY. Anyway I captured the image for you to see. Yes GTPay accepts Interswitch and Etranzact ATM cards.

      I am host the image here:

      http://img39.imageshack.us/img39/9905/capturel.jpg

      Take care.

      Reply
      1. Oluniyi David Ajao Avatar
        Oluniyi David Ajao

        Thanks for sharing Kemi. I would follow-up on this matter. Thanks again. 🙂

        Reply
  83. Kayode Avatar
    Kayode

    I called GTconect to make enquiries about GTPay, but I was told to call their Card Services department during normal working hours for details.

    The service is for real, as some websites have already started accepting Interswitch payments by this means.

    Reply
  84. Kayode Avatar
    Kayode

    GTB already has something cheaper. It is called GTPay. Once installed on your website, it allows you to collect payments from both Interswitch and Etranzact card holders.

    I don’t know the exact fee, but I hear it is far cheaper that Interswitch.

    http://www.gtbplc.com/display.php?mtd=gtpay.php?

    Reply
    1. stelkings Avatar
      stelkings

      I need to a paypal payment portal on my website

      Reply

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