No doubt, Paypal is about the most widely used
payment method for online transactions —worldwide. But sadly, Nigerians are no longer
allowed to use the service.
This restriction is one of the major worries of
Nigerian webmasters and online entrepreneurs. In
fact, it is the reason why some Nigerians are yet to
start their online businesses.
Note that these alternatives may not be perfect
replacements for Paypal, but they’ll provide an
avenue for you to receive payment from abroad.
(Of course, half a loaf is better than no bread.)
1. Western Union Money Transfer
With this method, you can receive payment from
anywhere in the world. If you’re a freelancer, this
may be a good option for you — provided you have
clients that are understanding.
Note that you must have a valid government-issued
ID card (such as an international passport,
national identity card, or drivers’ license) before
you can receive payments.
Although this payment method is very speedy, it
may not suitable for very small payments due to
the transfer and transaction charges.
2. Cheque
If you’re planning to venture (or you’re already)
into affiliate marketing or Google Adsense,
receiving a check may be the best (or even the
only) option for you. This option is suitable for
freelancers, too.
Once you request your payment (from the company
or individual you’re dealing with), a US cheque
(check) would be sent to your mailing address, and
you can get your cash at any Nigerian bank.
Receiving funds through cheques may take weeks,
depending on the bank you use as well as the
issuing bank. So, this payment method may not be
suitable if you need the funds urgently.
To receive funds via cheques, you must have a
domiciliary account (an international banking
account that can be used for sending and receiving
payments worldwide). You can easily open a
domiciliary account with any Nigerian bank, but
you must have a valid identity document
(international passport, drivers’ license, or
national ID card) and other requirements (which
vary depending on the bank). You can visit any
bank to make enquiries on opening a domiciliary
account.
Please note that transaction charges apply to
cheques, and these may vary from bank to bank.
WARNING: Have your cheque sent only to a valid
mailing address! If your address cannot be traced
easily, you may lose your cheque.
3. Bank Wire transfer
This method of payment is very simple: your funds
are transferred from the sender’s bank account to
your own bank account here in Nigeria. Once
again, you’ll need a domiciliary account for you to
receive payment through this method.
Though speedy as it may seem, this payment
method is not instant. You may have to wait for
days to a few weeks before receiving your funds.
But the option is suitable for almost everyone in
online business.
4. Payoneer Mastercard
This is the coolest option for Nigerians (in my own
opinion). With the Payoneer debit MasterCard, you
can receive payment from freelance job sites,
affiliate networks, individuals, and companies.
To get your Payoneer debit card, you have two
options:
If you’re going into online freelance business
(writing, web design, programming, SEO,
graphics design, virtual assistance,
translation, etc.) or affiliate marketing, you
can request the card through the freelance
outsourcing site or affiliate network you
want to work with. Elance, Odesk,
Freelancer, Markethealth, and Fiverr are
examples of Payoneer partners through
which you can request your own card.
Visit Payoneer’s website to request the card
directly.
After your request has been confirmed by the
Payoneer support, you’ll be sent an email
informing you of the shipment as well as the
expected delivery date. (You’d be told to wait for
28 days, but I receive my own cards in less than 20
days. So, it depends on your location in Nigeria.)
WARNING: Payoneer does not deliver to mailboxes.
Only residential addresses are allowed. So, use a
valid residential address that can be traced easily.
If your card gets lost in transit, you may be asked
to pay $50 (about N7500) before another card is
sent to you.
The Payoneer card allows you to receive direct
payment from freelance sites and affiliate
networks. Also, individuals can load funds directly
to your card from another credit/debit card.
Once you have the funds on your card, you’ll get an
email notification from Payoneer, and you can
withdraw your funds instantly from any ATM that
processes Mastercard-issued cards (I only know of
GTB and Zenith bank ATMs at the moment).
5. 2Checkout
Also kno
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