Currently, there are many online payment solutions services available for both merchants and individuals who carry out online business in Nigeria to choose from.
Most of them that are currently surfacing and developed with the sole purpose of making right the wrongs of PayPal.
An example of an alternatives payment solution, similar to PayPal, is Payza. It is a genuine, secured, worldwide and famous online payment processing platform available for Nigerian online users.
Considering almost all the features of payza, we can easily conclude that it operates just like Paypal.
It allows you to easily fund, withdraw, and request for the fund using your email address that serves almost like an account number.
The big difference in pay, which can be seen as the problem it came to solve is that it is available in over 190 countries without such limitations and restrictions. This is very much, unlike Paypal.
This post contains all the information for opening and using a Payza account in Nigeria.
But before I even proceed to address anything on creating a Payza account, there is an important update about the account that I will share with you shortly.
Important update on the use of Payza account!
While it is a very genuine, safe, and secured platform for payment solutions, there were several allegations as of March 21, 2018, that the company was operating in the US without appropriate licensing, and that it conspired to transmit money obtained through illegal MLM schemes
To this end, the company was put on hold and subsequently ceased operation IN THE UNITED STATES.
Since then, most people in the US opt for other top-rated mobile processors and merchant account providers for alternatives.
This post will be promptly updated whenever there is an update on the use of the Payza account.
Having read that let’s briefly go through the things the payza account is best used for.
What is Payza account best used for in Nigeria
The major purpose of Payza is to give users great convenience to users for transferring and, receiving funds online with just their email address as the account number without much more stress.
Most of the features of Payza are developed to fill the potholes that its rival, Paypal, has created. One of these includes the fact that Payza service is available in more countries of the world.
So for countries where online users were not allowed by PayPal to do business online have seen a more secure and better option.
With a Payza account in Nigeria, you can easily and quickly send, receive, withdraw, and deposit funds securely to anyone who lives almost anywhere in the world.
They also have low transaction rates compared to PayPal and this makes them attractive. The headquarters of the company is located in Montreal, Canada.
The steps involved in creating a Payza account in Nigeria
Payza has a very easy to understand and use interface, this makes the process involved in creating an account simple. It is an alternative to Paypal in terms of security, and most dominantly, flexibility.
I should also mention that the company was formerly known as AlertPay before it changed its name and structuring.
The following steps will explain to you the break down of how to create a payza account in Nigeria from scratch and in nothing more than three minutes.
Step one: open your browser and go to the Payza home page and click on the signup button. (if you have any problem loading the page, then refer back to the important update I shared earlier on in this post)
Step two: you will be asked to select your country, you will also have to choose whether it is a personal account or Business account, and I believe this is self-explanatory.
Step three: After choosing your country and account type, you will be directed to the next page where you will need to enter your legal name, email, and password.
When setting your password, it will have to contain at least a Capital LETTER and then hit the button “get started”
Step four: You will verify your account by going to your email used in the registration and clicking the link sent to you by payza.
Step five: Log in with your email and password to complete your profile filling process so that you can have full access to your Payza account.
At this point, you have successfully created a Payza account that can be used for various global transactions such a Wire Transfer, credit card, and Bitcoin funding.
How to fund a Payza account in Nigeria
To be able to pay for other online services with your payza account, it is a must to have funds in your account.
If you do not have and want to fund your account, simply login to your payza account, click on the “add funds” button, and follow the on-screen instructions to fund your Payza account.
How to make payment with your Payza account in Nigeria
When sending funds to another Payza user, you will be asked to provide the email ID of the recipient and also the amount you intend to send.
After Logging in to your Payza account, on the homepage, you will see options of either Request funds, Add funds, send funds, or Withdraw funds. Click on the send funds and follow the on-screen instructions.
Sending of funds with your Payza account can be done from your balance, your bank, or your credit card.
How to receive funds to your Payza account in Nigeria
If you work online from Nigeria, you can receive your payment in your payza account with your email address used in the registration process.
You can use Payza to receive payments from different platforms like Clixsense, Neobux, and so on.
All you need to do to receive funds to your Payza account is to provide your Payza email address in the account settings of that website.
After you have been transferred funds by your client, how then do you withdraw? This takes us to the next segment.
How to withdraw funds from your Payza account in Nigeria
The process involved in withdrawing funds from your Payza account to your bank account is quite straightforward.
First off, your bank account details must be added to your Payza account to be able to withdraw into the bank account, and this can be done after creating your account.
So before we move into how to withdraw funds from your Payza account in Nigeria, let’s first address the issue of adding your bank details to your Payza account.
On your Payza account dashboard, click on Wallet on the left sidebar
Click on Bank Account, you will see a “Add a Bank Account” option, click on it.
This will lead you to where you will need to enter your bank details.
Now when withdrawing funds from your Payza account, you can either “Withdraw funds in local currency” or “Withdraw funds in EUR or GBP”.
After choosing, say, local currency, you will be asked to enter the account type, the first and last name of the account and then the Account Name & IFSC Code.
After clicking the verification button on the page, you will get a message telling that you have added your bank account successfully.
Now that you have your bank account details added to your Payza account, you can proceed to make a withdrawal of funds.
Hit the Withdraw Funds button that you will see on the top of the homepage.
An array of withdrawal options will be presented to you, Choose bank transfer.
Your bank account will surface and that is what you should Select.
You will be asked to enter your reasons for withdrawal, enter whatever reasons that are appliable to you as there is no default input.
Afterward, you enter the number of funds you intend to withdraw from your Payza account.
Clicking on the Next button will take you to where you have an overview of your withdrawal details and verify the information.
The arrival of the funds from your Payza account to your bank account usually takes 3-4 working days.
When the money gets transferred, buy what you want, you are the boss!
Most online payment solutions reviewers usually say that Payza looks pretty much like a PayPal copy.
The features, marketing, and the name is telltale proof. But most people who used Payza are those who are dissatisfied with the discomfort of any gaint online payment company you can think of.
This post will be updated if there are new developments on the Payza account as stated in the earlier parts of this post.
Recommended: have you seen other online payment solutions for Nigerian e-commerce owners and freelancers?