Paying with your card on an unfamiliar merchant site can be a little worrisome – as a customer you might not be comfortable inputting your card details on the checkout page. There is no reason why you should miss out on making your payment because of this, that’s why we have taken our bank transfer payment option to a whole new level on Rave.

For context, the value of transactions via the Nigeria Interbank Settlement System Instant payment (NIBSS) system rose to N41.48tn in the first five months of 2019. This is a 36% increase in the value of the transactions when compared with N30.448tn in the first five months of 2018.

Here are three more important facts to know about customer behaviour when it comes to payments:

  1. Customers are already making most of their payments via instant bank transfer and will continue to do so – this is a fact.
  2. Merchants need to accept payments the way customers are used to making payments – this is also a fact.
  3. Merchants need a dashboard like the Rave Dashboard to get payment insights to make smarter business decisions – yes, you guessed it, this is another fact.

So why have we told you all these?

Well, we’ll tell you.

What if we told you that as a business owner you could continue to accept payments by bank transfer that your customers are used to, but be able to tell when they pay, where they pay from, what devices they pay from, their contact details, and other insights that the Rave Dashboard offers?

Don’t think too deeply about it, the great news is you can now do this. Your customer can pay you via bank transfer from any bank app, and you can process it alongside cards, USSD, Barter etc.

As a customer in Nigeria, this means you can pay through your preferred means of payment (in this case, bank transfer) and enjoy all the benefits of a seamless checkout experience tailored to your needs.

How does it work?

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  1. On Rave checkout, select ‘Pay with Bank Transfer’
  2. Enter the account details shown on your screen into your banking app to initiate the payment.
  3. Click ‘I have made this bank transfer’ and your transfer is done.

The whole process takes less than 3 minutes, yes, it’s that fast.


Payments for us has gone beyond just being viewed as an exchange for goods and services, we view payments as an integral part of day to day living.

Many times a successful payment can be the difference between life and death, between buying a nice timely gift for a loved one and seeing them feeling loved and disappointing a loved one.

More payment options give us the opportunity to make a difference in the lives of merchants and their customers and that’s what all this is about –  making a positive difference.

As a Rave merchant, this feature is already enabled on your account, you don’t need to do anything else, just sit back and start enjoying more payments from customers.

If you have more questions, check out our FAQs here.

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Published by dikachim

Head, Product Marketing