Tag Archives: GTBank GTPay Vs UBA Ucollect

GTBank GTPay Vs UBA Ucollect Payment Gateways

Any successful online business or e-commerce business require a risk free online payment processor platform for both merchants and consumers as there are scams, identity theft, and fraudsters everywhere. GTBank GTPay and UBA U-Collect are gateways that connect merchants, cardholders, and financial institutions (banks), offering the assurance of secure transactions and timely payment solution.

U-Collect is an Internet Payment Gateway Solution which integrates multiple payment solutions available in Nigeria – VISA, Verve, MasterCard and e-Tranzact while GTPay is an internet payment gateway developed to facilitate payments online using debit Cards issued by banks on the Interswitch Network, MasterCard and VISA.

Let’s start with GTBank GTpay;

GTBank GTPay

  • GTPAY accepts both locally and internationally issued cards including Interswitch, MasterCard and VISA.
  • GTPAY comes with a unique, online monitoring console that allows merchants view transactions as they occur.
  • GTBank is a certified developer partner; GTPAY integration for merchants and as such the integration fee is waived for them.
  • Their Transaction cost not stated
  • Correct amount is deducted from cards instantly and merchant’s account credited within 24 hours on transactions.

Cardholders can pay merchants (their customers) for internet purchases of goods and services from the comfort of their offices/homes by supplying details of their local debit/credit cards.

Compare to;

UBA U-Collect

  • Allows globally accepted means of payment – VISA and MasterCard.
  • They also accept local means of payments
  • They offer real-time comprehensive, searchable and downloadable reports accessible by authorised personnel as specified by Corporate.
  • Their gateway integration processes is simplified. Integration cost – NIL (No cost of Deployment to the customer). They offer possible integration with corporate core business application if required
  • Transaction cost: there is a transaction cost of 1.5% / Transaction (subject to a maximum of N2, 000).
  • Possible instant email/SMS notification (on phones of authorized personnel).
  • Supports multi-currency: dollar, Pounds, Naira, Euro, etc.

Both GTBank and UBA have many unique qualities when it comes to online payment acceptances. For example, opening GTBank domiciliary account alongside GTPay will help ensure a perfect online payment transaction.

I do suggest GTBank GTPay payment gateway to UBA UCollect to my clients.

Here are also list of top 20 Nigerian online payment gateway processor  platform

If you have use Ucollect lets hear from you or any other online Payment platform you think is worth trying.