Nigerian SMEs Get MasterCard Online Payment Solution

Leading global payment solutions company MasterCard, has a new addition to its existing internet payment gateway solution in Nigeria targeted at Small and Medium Enterprises (SMEs). The introduction of SME Online to the market further demonstrates the commitment of MasterCard to building a cashless ecosystem in Nigeria.

The newest addition, “SME Online”, is a suite of value-added services that works seamlessly with MIGS and extends the benefits of online card acceptance to a broader merchant segment. The features include invoice payments, batch payments, reoccurring scheduled payments, virtual terminal and web shop.  It’s a simple to implement, easy to use web-based payment solution that banks can offer to their SME merchants.

A key benefit for merchants is that the system can be self-managed. It is designed to enable SME merchants to establish an internet presence for their businesses, including website design and processing of batch and individual card payments.

SME Online allows merchants to build their own web shops, including shopping online products catalogues. it also provides a custome branded e-commerce solution to manage and SME authorise online payment transactions in over 145 currencies. Once merchants create their own web shop, they can start accepting online shoppers on a simple platform that embeds lots of functionalities, and they can add new functionalities at any time.

According to Omokehinde Ojomuyide , Country Manager, MasterCard West Africa, “With the likes of Jumia.com, Nigeria's No.1 Online Retailer, and wakanow.com, Nigeria’s No.1 Online Travel Website, already signed on to MIGS payment gateway solution, shoppers in Nigeria are already enjoying the benefits of convenient and seamless 24x7 online shopping. SME Online will extend these benefits to thousands of smaller merchants and open the world of online shopping to millions of Nigerians.”

Guaranty Trust Bank and Zenith Bank currently offer the MIGS services to their merchant customers, while SME Online is only available at Zenith Bank. Interested merchants and SMEs can now subscribe to the MasterCard’s internet payment gateway services via Zenith bank under the brand name GlobalPay and with Guaranty Trust Bank as GTPay Plus.