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Fees & Payments Policy

This policy is a part of our Terms of Service. By opening a webstore, you’re agreeing to this policy and our Terms of Service. This Policy may change over time, by continuing to use SME Marketplace NG services you agree to those changes.

We hate fees and if we could afford to make this free, we would. Our goal here is to make local e-commerce easy and powerful in Nigeria and to make selling online within reach of those who never thought it would work for them (Local small businesses).  We’re committed to building the best platform we can because local small businesses are the backbone of our economy. In order to do that, we’ve established the following small fees.

Types of Fees

Listing Fees

We do not charge a listing fee to list your items on our marketplace. Your items will be visible in the marketplace until it sells.

Transaction Fees

When you make a sale through SME Marketplace Nigeria, 6% of each transaction is charged as a Marketplace fee to support the Marketplace.  Building the Marketplace was and continues to be expensive.  This fee primarily goes to supporting costs already incurred as well as the future development of the platform.

If you offer optional personalization for an additional fee, the additional fee for personalization is added to the listing price you display and the total paid price is subject to the same transaction fees described in this Section.

If a shopper purchase your listing using your store coupon/discount, transaction fee will apply after deducting such discount.
However, if a shopper purchase using a marketplace coupon/discount (coupon created by us), we pay you in full without deducting such discounts.

Transaction fees are deducted from your current balance as each sale occurs, and are reflected in your ledger book.

Payment Processor Fees

Payment processor charges the Marketplace 1.5%  per transaction made through the Marketplace.

The payment processing fee is applicable on the total amount of the sale, including tax and shipping. Payment processing fees are deducted from the sale amount in your payment account.

The Marketplace does not automatically disperse the net earnings, again due to Payment processor fees.  Payment processor charges ₦50 to “withdraw” any amount from the Marketplace and this fee is passed to the vendor at the time of withdrawal.

Withdrawals can be made at any time, but waiting until at least ₦10,000 has accrued will limit the percentage impact of the fee.  Please note that your balance is held in a secure business account with guaranteed payments and backups.

We reserve the right to adjust this fee if Payment processor makes adjustments to their fee schedule.

Advertising fees 

We offer advertising opportunities to increase the visibility of your items and shop. Advertising fees vary by opportunity. Ad fees will be clearly outlined before you commit to purchasing an ad. Advertising fees are due at the time of purchase.

For more information, please see our Advertising and Marketing Policy.

Shipping Fees

Shipping Fees are paid directly by the buyer at the time of a successful checkout based on the shipping options and rates that the vendor sets in their webstore settings.

For more information, please see our Shipping Policy.

Webstore Subscription Fee

SME Marketplace NG has tools designed for every stage of your business’s growth—no matter how big your ambitions are. Access more advanced tools with an optional monthly subscription package. Start-up (Free Plan), Professional, Executive, or Executive Plus.

Start-upProfessionalExecutiveExecutive +
Easy webstore to kick start your business for free.Professional features to grow and manage your webstoreAdvanced e-commerce solutions to expand your businessEverything you need to sell online, mobile, and retail
₦0 Free Forever₦1000 Monthly₦2000 Monthly₦5000 Monthly

For a full list of features, see pricing table.

When you have a Webstore paid subscription, you get more listings, compared to the FREE plan. You also get access to additional tools and Ads credits to manage and promote your business.

You can switch between any of the 4 plans at any time without affecting your vendor account status.

Refunds of the webstore subscription are not provided for any unused portion of the term if the cancellation takes place before the end of the term you selected. 

Fee Avoidance

Any action by a vendor to avoid paying a fee is considered fee avoidance and is strictly prohibited by the Marketplace. This includes, for example, encouraging buyers to purchase an item in your Webstore through another venue.

The price stated in each listing description must be an accurate representation of the sale. Vendors may not alter the item’s price after a sale for the purpose of avoiding the Marketplace transaction fees, misrepresent the item’s location, or use another user’s account without permission.

Marketplace Payments

SME Marketplace Nigeria enables various forms of payment to shoppers while using our services. Buyers can make payment by credit card, debit card, Marketplace Gift Card and Marketplace Credit, USSD Code, QR Code Scanning, some bank transfer services, Apple Pay, and Google Pay.

Marketplace Gift Cards & Marketplace Credits

*Please note that all fees are listed exclusive of any value-added tax (VAT) that may apply.

Updated May 1th, 2020

SME Marketplace Nigeria
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