Interswitch Online Payment Setup

TurningPoint Innovations: We thrive on technology driven innovations!

With the evolution of the Cashless Policy and enforcement by Central Bank, every webmaster or website owner need to be prepared to integrate an online store to his/her website and make buying of goods and services more convenient as customers can buy products and services from the convenience of their homes and offices.

Accepting payments online offers major benefits for many Small, Medium and Large Scale businesses. Being able to receive payment online means using a payment process which involves using electronic funds, web processing solution as well as database updating when the process is successful. It means the transfer of funds from your buyer’s account to your account through a trusted platform. Now for a global audience, there are several ways which have evolved that has allowed merchants to be able to receive money online ranging from merchant’s own merchant account to third party payment processing.

ATM CARDSThe process should be in such a way that customers can visit your website, select your product or service they wish to order, proceed to payment page, enter their Debit/Credit Card detail (Visa, Interswitch, Mastercard, etranzact etc)  and make payment, afterwards, the payment gateway will remit your money to your bank account.

There are few things you need to know about ecommerce/epayment:

Q: Who is the ecommerce/epayment solution meant for?

A: Merchant who want to sell products online.

- Merchant who render services and want to make it easy for customers/clients to pay online.
- Religious organizations, NGOs, Governmental organizations, and Political Parties who want to receive voluntary donations and fees online.
- Educational Institutions who wants to receive fees from students and parents, saving them the hassles of going to cue-up in the banks.
- And any other interested firm who wants to tap into the cashless electronics society


Q: What is a merchant account?
A: A merchant account is way for businesses to accept credit cards both online and offline. Merchant account processor companies provide credit card authorization and charges in real-time.

Q: Why accept credit cards?
A: 80% of the world population buys products and services on credit. Over 87% of all Internet customers use credit cards and businesses loose sales over 60% of the time if they don't accept credit card payments!

Credit cards are ecommerce and trying to do business without them is like swimming against the tide. You need 2 things to accept credit cards, first a small business merchant account and second a way to process these transactions. At brick and mortar stores the processing takes place when your card is swiped through the card reader (POS Terminal). At online stores the processing is done when a shopper types in their credit card information and it is verified by a merchant account processor.

TurningPoint Innovations partners with many different merchant account providers allowing you to both have a merchant account and process credit cards. We provide a variety of merchant account provider companies so that your company can find the solution that is right for your business.

Q: How does it work?
With most merchant accounts, during checkout the shopper will be asked which method of payment they prefer to use, if they select a form of credit card payment they will be redirected to a secure page within the store to enter their credit card information. After the shopper selects submit, the credit card information will be sent to the correct merchant account where it will be verified and either accepted or denied by the merchant account service provider. If the transaction is denied the shopper will be alerted immediately so that they may correct and continue or cancel the transaction. The advantage of this system is that the user has never left your store and yet their transaction has been either accepted or denied and the goods can be immediately sent.

Q: Security
Internet credit card fraud has always been a problem. All of our merchant account provider companies do their best to detect fraud. We have a variety of mechanisms in place to checking shipping address against the credit card billing address and to check card verification codes with visa and mastercard. We recommend you use these features to their fullest in order to lessen your companies liability. The benefits of accepting credit cards far outweigh the negatives but you should be alert and vigilant to lessen the impact on your business.

INTERSWITCHList of credit card processing gateway we integrate:

1) Interswitch is one of the first card company in Nigeria and a partner of MasterCard. They built their own gateway which they lease to clients for N150,000 one time fee and 1.5% commission on every payment. The gateway can charge MasterCards, Verve and the regular Nigerian Interswitch cards.

2) Etranzact is the second major card company in Nigeria, they also have their own payment gateway which you can lease for a one time fee of N120,000 and unconfirmed 1.3% commission. With this gateway you can receive online payments from Etransact cards and their mobile money subsidiary PocketMoni.

3) GlobalPay is built by Zenith Bank just like the GTPay, it allows the bank customers to receive card payments on their website. GlobalPay is regsitered with Interswitch, UnifiedPayments and Etransact. 

Take advantage of internet usage explosion in Nigeria and sell your products and services online.

Inline with the Central Bank cashless policy, TurningPoint Innovations has tapped into the potential by partnering with the leading online processing companies and Banks to achieve this goal. The solution adds an online store to your website and makes buying your goods and services more convenient as your customers can buy your products and services from the convenience of their homes and offices.

Contact us Now for your ecommerce/epayment solution.

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