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Top 10 Online Payment Systems for Small Businesses in Africa

In today’s digital Africa, where mobile money and e-commerce are booming, having the right online payment system is essential for small businesses to thrive.

But with a vast array of options, choosing the perfect fit can be overwhelming. This comprehensive guide explores the top 10 online payment systems tailored to empower African businesses, boost customer convenience, and unlock your full growth potential.

Thanks to the internet, anyone can easily manage a business successfully across the globe without having any form of physical contact with clients. Virtual business is currently the real deal so to speak.

However, with all of these advantages, entrepreneurs, product and service-based, are worried about one thing, “How to receive payments from all parts of the world”?

This has been the question on the lips of many business owners. It is one thing to have a product to sell or a service to render but is it another thing to know the easiest or appropriate way to sell/render your services and get paid without any hitch.

I have decided to answer this question in this article.

Keep reading!

In Africa, online business systems encompass two primary categories of entrepreneurs:
– The product-based and
– The service-based.

Product-based entrepreneurs engage in the sale of physical goods, such as beauty products and food vendors, while service-based entrepreneurs focus on online teachings, website development, content writing, and similar services. These distinctions are fundamental for understanding the diverse landscape of online businesses across the continent.

Depending on the category, different platforms are suitable for each in terms of sales and payment receipt. Find out our best pick, below…


1. Paystack

Online Payment in Africa (Paystack)

Paystack is a fintech company with a payment system that enables businesses to receive online payments across Africa and beyond. In other words, it allows both businesses to easily get paid locally and internationally.

Apart from receiving payments from customers with Payment links, there are other things you can do using Paystack, such as: Generate invoices from your account, make instant transfers, retrieve all your transaction and customer data, verify the identity of customers, automated chargeback alerts, create a free e-commerce store for your business.

As a start-up, you might want to go for Paystack because you can start accepting payments with the platform without having a Corporate Bank Account or company registration document.


2. Flutterwave

Second on the list of payment systems is Flutterwave. It is very common among business owners. It has similar features as Paystack in terms of payment receipt. The only difference between Flutterwave and Paystack is that other than receiving payments via debit and credit cards, bank POS, transfers and USSD, flutterwave also allows you to make payments online using virtual dollar cards/MasterCards. It also supports utility payments. 

However, if your business is already registered, flutterwave will be a great choice as the fees are relatively cheaper than Paystack.


3. Pesapal

Pesapal is a leading online payment gateway in Africa that enables individuals and businesses to make and accept payments online and offline. It operates in Kenya, Tanzania, Uganda, Rwanda, Malawi, Zambia, and Zimbabwe, offering various payment options such as Card, Mobile Money, and Bank transfers.

The company provides various features and solutions for different sectors and industries, such as e-commerce, hospitality, education, energy, events, etc.


4. PayPal

Online Payment in Africa (PayPal)

PayPal is a fast and safe platform to pay and get paid online, via a mobile device. The service offers you simpler ways to send money without sharing financial information, or bank accounts. However, this payment system

has its downside. It operates on a policy that restricts certain African countries from having full access to their services. This restriction doesn’t allow business owners in such countries to receive payments.


5. Voguepay

This is one of the first payment systems that have been existing since 2012. Voguepay allows you to make payments of various types like utility bills, not only that, it offers e-wallets to users which gives you room to receive and send money to a fellow user. As an online business owner, this feature will enable your customers to pay easily for your products and services on your website.

However, the disadvantage of using this platform is that just like PayPal, Voguepay has limits in some countries like Nigeria. Thus, allowing local users to send money only but not receive it from certain countries.


6. Peach Payments

Online Payment in Africa (Peach Payments)

Peach Payments is a payment gateway that enables online merchants in Africa to accept payments from their customers seamlessly and securely. It operates in South Africa, Kenya, Mauritius, Ghana, and Nigeria and supports various payment options such as Card, Mobile, and Bank transfers.


7. Monnify

Monnify is a payment gateway founded in 2019 that focuses on providing seamless payment solutions for businesses in Nigeria. This payment gateway is a product of Moniepoint, a fintech company in Nigeria.


8. IntaSend

IntaSend is a payment gateway for online businesses and developers in Africa. It allows companies and individuals to collect and send money securely from anywhere in the world using various payment options such as card, mobile, and bank transfers.

The company supports local and international currencies like KES, USD, GBP, and EUR and payment methods, such as M-Pesa, Airtel Money, MTN Mobile Money, and Vodafone Cash.


9. Squad

Online Payment in Africa (SquadCo)

Squad is a payment gateway that offers a range of financial services, including payments, loans, and savings. It was launched in 2022 by HabariPay, a subsidiary of Guaranty Trust Holding Company. It aims to empower individuals and businesses across Africa by providing access to financial tools.


10. Interswitch

Interswitch is one of the oldest payment gateways in Africa, founded in 2002. This payment gateway which has its headquarters in Nigeria offers a comprehensive suite of payment solutions.



As stated earlier, these payment platforms are unique depending on the type of business. 

Hence, if you deal in physical products, Paystack and Flutterwave are the perfect payment systems to sign up to.

On the other hand, as a service-based entrepreneur, any of the platforms can serve your business while as a digital product entrepreneur (e-products) like e-books and courses, PayPal, Paystack, Flutterwave, and VoguePay are just perfect options.


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