When you apply for business verification and your country of choice is Nigeria, you account can be verified and classified as follows:
This category comprises of websites selling digital goods and services such as airtime recharge, gaming, downloadable products and other instant goods. N20, 000 is the maximum amount allowed on a single transaction made through MasterCards Naira and VerveCards.
This category includes Online shopping malls, Telemarketing services, Clubs and Bill payment websites. The maximum amount allowed per transaction is N250, 000. This limit only affects payments made via MasterCard Naira and Verve Cards
This applies to businesses like Airline Industries, religious institutions or business where the buyer is often physically recognizable by the merchant. In this category, the maximum amount allowed per transaction made through MasterCard Naira and Verve Cards is N1,000,000.
This is the category for schools and associations. In this category, the maximum amount allowed per transaction made through MasterCard Naira and Verve Cards is N1,000,000.
- Transaction limit only applies in instances where the buyer is located in Nigeria and wants to make use of Interswitch gateway-enabled cards (Mastercard Naira and Verve cards) to make payments.
- There is no LIMIT transactions with other local and international gateways
- The transaction limit is placed by Interswitch in order to reduce charge-backs or refunds.
- For international transactions, VoguePay applies a fund maturation period of 5 days as part of buyer protection policy.