In our previous article, we reviewed the list of best Flutterwave alternatives in Nigeria. You can check that out to more more about it. In this article, we'll be walking you through the list of Stripe alternatives in Nigeria in 2024. But first, what should we be looking at?
In Nigeria, Stripe serves as a payment gateway that allows Nigerians to using their debit cards to make payment for foreign products. Nigeria is also an extension of Stripe in which through paystack, Nigeria can receive payment from foreign companies for gigs done. For example, Medium now pays Nigeria for their partnership earning through Stripe. Another typical example is Quora - the micro blogging platform - is paying for earning of publishers through Stripe.
So, in addition to being a payment gateway to Nigerians, Stripe also serves as a middleman that helps foreign companies facilitated payments to Nigerians gigs workers. However, it's very important to note that Stripe is not currently or operating working Nigeria or any other African countries. The fintech company is just only offering an extension services to Nigeria, Kenya, Ghana and South Africa.
List of Stripe Alternatives in Nigeria
1. Payoneer
Payoneer is the best and free Stripe alternative in Nigeria. Although, the company doesn't serves as a payment gateway, but it's a payment platform for freelancers around the world - including Nigeria - that helps them to get their earnings from foreign companies to their local bank account without any hassle.
In addition to Payoneer offerings, there is a MasterCard that allows freelancer to withdraw their hard-earned money from any ATM in the world. Indeed, Payoneer is the best alternative to Stripe in Nigeria when it comes to helping Nigerians receiving their payments from gigs offering companies in the US, Canada, UK, AU, EU and around the world.
2. Flutterwave
Recently, Flutterwave announced the launch of American Express payment option on it platform. The service works in the sense that Nigerian merchants can now receive payment from foreign users that have American Express Card. This is actually working as a payment gateway in related to Stripe offerings.
Flutterwave being one of the most popular payment gateway for businesses and individuals in Nigeria makes it stand as one of the best alternative of Stripe in the country. However, it's important to let you understand that Flutterwave offers more exclusive financial service features as a PSSP bank than Stripe does. Stripe offers limited financial service to Nigerians because - like PayPay - it's not fully operating in Nigeria, it's just serving as an extension through it subsidiary company Paystack.
3. Paystack
Another Free Stripe Alternative in Nigeria is Paystack. Paystack is another online payment gateway in Nigeria. Paystack and Flutterwave are big competitors in the Nigerians financial landscape. Although Paystack has been acquired by Stripe in 2020, making the payment company broadens its financial service offerings in Africa by facilitating part of Stripe services to four additional African countries including Nigeria, Ghana, Kenya and South Africa.
In addition to being an online payment gateway to Nigerian businesses and merchants, Paystack also offerings providing part of Stripe's Infrastructures to Nigerians makes it the best alternative to Stripe in Nigeria.
Other notable payment gateways that serve as one of the best free Stripe alternative in Nigeria are SeerBit, Interswicth, PayU, Zone - formerly Appzone and Remita. However, some notable international recognized payment gateways that's best described as Stripe alternatives in Nigeria are PayPal, Shopify Payment, Adyen, Authorized.Net, and WorldPay.
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