Receiving payments from international customers is a very common occurrence. In fact, it’s not uncommon for a business to have some kind of global presence. Even if your business is entirely based in Nigeria, you may still receive payments from overseas customers.
There are several ways you can accept international payments from customers. Depending on your needs, some methods are better than others.
How to receive international payment in Nigeria
The following are the ways you can receive international payment in Nigeria:
1. Wire Transfer (Sending money from one bank to another)
2. Credit Card Payment (You pay with your credit card)
3. PayPal (A global e-commerce business allowing payments and money transfers to be made through the Internet.)
4. MoneyGram (Money transfer services)
5. Western Union (A global money remittance company that provides fast and convenient way to send or receive money around the world)
You can receive international payments in Nigeria by registering your bank account with IFX and then getting paid directly into your bank account.
To get started, you need to be registered as a user of IFX and have an active IFX account.
Once you are registered as a user, you will be asked to provide details of your bank account and verify your identity by uploading a scan of your passport or national ID card.
Once this is done, you can then request for payment to be made into your bank account. The money will arrive within 24 hours (in most cases) and be credited to the IFX account balance.
Accepting credit cards online
The most popular way to accept international credit card payments is through online payment processors like Stripe or PayPal. These services will convert the payment into Nigerian Naira (NGN) and deposit it into your bank account.
This method works well if you have a website that accepts credit card payments, but it’s not ideal if you don’t have an e-commerce site because not all users will be able to see this option when they go through the checkout process.