If you have many questions about how to do online businesses in Nigeria, your first question would centre on how to process payments. This is where the likes of PayPal come to mind.

Sadly enough, PayPal offers skeletal services to Nigerians owing more to government regulations than fraud as being speculated in some quarters. Nigerians are only allowed to send money to their PayPal accounts but cannot withdraw. This can be very frustrating and I tell you it’s one of the biggest challenges faced by online entrepreneurs in Nigeria but at this point, you’ll begin to look for alternatives. That is where Online Naira comes in handy.

OnlineNaira is all about making payments and receiving payments online. It was founded on April 1, 2010 and privately owned by Adesiyan brothers, Kayode and Olawole. The company boasts tools “that will help you to receive payments if you do some work or sell stuff online and we also have tools that will help you to send money to other people or merchants online. The best part of our payments service is that we specialise in helping Africans to do more business online. It is important to note that we accept everyone who signs up and we do not do any credit check as we do not offer credit in any way”.

“OnlineNaira will send your money to anyone you tell us to send money to irrespective of who it is or where they are located in the world. It is your responsibility to be sure you know the person or company you ask us to send money to as we do not take responsibility for any money you lose should the recipient refuse to honour any agreements you may have with them.”

How can I register?

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It’s easy to sign up for a free account on OnlineNaira. All you need are your username, password and email address. If you don’t receive your email in your inbox, it’s a good idea for you to check it in your Junk/Spam Mail folder or better still add their email address, info@onlinenaira.com to your safe senders list. Without an account, you won’t be able to do business with the company. After this quick and easy registration, your account is ready but unverified. Though, you can still get started with your first transaction.

After your first or second transaction, you’ll need to verify your account if you want to keep doing business with them. Verification is fast and simple. You’ll be required to provide your date of birth, means of identification, and passport photograph on your profile page. And that’s all.  

What can I do with OnlineNaira?

OnlineNaira offers a bunch of services and processes payments in Nigeria and 32 other African countries with cash, bank wire, mobile payments, ATM, credit or debit cards.

You can deposit or withdraw money on OnlineNaira. To initiate a deposit or withdraw, you’ve to log in to your dashboard and select your transaction type from the menus displayed and follow the prompt.

You can manage your eCurrency accounts with Neteller, Skrill, PerfectMoney, PayPal, Payza, Payeer, Payoneer, Advcash and cryptocurrencies.

If you’re a freelancer or an affiliate marketer, you’ll be able to withdraw your online earnings into your bank in Nigeria or African countries, using more than one solution.

If you’re looking to pay your local bills such as PHCN, data bundle renewal, phone topup, betting, lottery and other bills, they have got you covered.

With OnlineNaira, you can manage your trading deposits and withdrawals. It works with IronFX, FxGiants, HiWayFx, Binary Options, Tifia, FXCL and so on.

If you’re an ebook author, the company will help you place your ebook on their website, advertise and collect any sales for you.

With the OnlineNaira WebPay, you will able to collect card payments directly on your website and your customers would be able to pay on your website with any ATM, Credit or Debit cards issued in Nigeria.

How secure is my account?

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The company takes the issue of security seriously. I can assure you that your account or money is in safe hands. I think security is one of the biggest concerns in the online business world but OnlineNaira has put this into consideration. I’ve a verified account with them.

I registered and hosted my domain, Afrinoble through them from two separate overseas companies. I’ve never had issues with them. They won’t tamper with your money. They will only deduct their transaction fees which will be calculated automatically and displayed on your dashboard before you would proceed with such a transaction.

They use Secure Sockets Layer, SSL Certificate to encrypt your communication before it is transmitted over the internet. As a security measure, you’ll get instant notification of every transaction in your account while you’re expected to change your password every 90 days to make your account securer.

As another security feature, the company offers optional 2nd factor authentication in email or Google authentication app.

It also certifies user accounts with valid documents confirming identity and address and ensures that all withdrawals to users’ bank accounts are manually checked for fraud.

What about transaction fees?

Its transaction fees are cheap and affordable and are calculated differently according to the amount and nature of transactions.

Does OnlineNaira have a live chat support?

Yes, it has a phone and live chat support you can use if things go wrong as you process your transactions or you need clarifications on the spot. You can also contact them via the support channels if you think they are wasting time in processing your transactions or you want them to speed things up for you. I’ve done that on many occasions and things got done immediately.

Wrapping up

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Instead of waiting till eternity for PayPal to launch fully in Nigeria as an internationally acclaimed online merchants payment processor, I’d rather pitch my tent with a bridge builder that will connect me now with the online business world and put food on my table. And that is OnlineNaira, the largest payment gateway for Africans. It’s affordable, convenient, fast and reliable.

Presently, OnlineNaira has about 37,000 active users and more than 350,000 subscribers with some 2,000 daily transactions.

There is much to talk about OnlineNaira that can’t be covered in a single blog post. In a series of follow-up articles in the coming days, I shall be sharing with you tutorials on how to register for a free account, products and services on offer, full fees and charges, refund policy and related stuffs. Don’t miss out. Subscribe to our mailing list to get updates of future posts.

If you’ve used OnlineNaira before, what are your experiences? Or what other PayPal alternatives in Nigeria do you suggest? Do share your thoughts in the Comment box below.

Please beware that I may receive commissions from affiliate links on this blog.