Wednesday, 18 June 2014

Finally, PayPal to Extend Services To Nigeria and 9 Other Countries in Africa


For a while now purchasing goods abroad over the internet from Nigeria has been quite difficult. This is simply because PayPal services is not available in Nigeria. However, the story is about to change.

PayPal, one of the world’s largest internet payment companies, is extending its service offering to Nigeria and 9 other countries starting from this week, according to Forbes. 
Could this be as a result of the petition to PayPal that was brought up on the advocacy group Change.org? Not necessarily. There is actually more to it.
Reuters reports, PayPal will expand to Belarus, Macedonia, Moldova, Montenegro, Monaco, Cameroon, Ivory Coast, Zimbabwe, Paraguay and Nigeria. Of the ten countries, Nigeria holds the biggest potential market for PayPal considering that the West African country has an estimated 60 million Internet users according to statistics from Euromonitor. This new expansion will bring the total number of countries under PayPal’s coverage to 203.


“PayPal has been going through a period of reinvention, refreshing many of its services to make them easier to use on mobile (phones), allowing us to expand into fast-developing markets,” Rupert Keeley, PayPal’s Vice President for the EMEA region, said to Reuters. 

According to Keeley, PayPal will not launch all of its services in these news markets. The company will only start off with the ‘send money’ feature, allowing customers to make payments to pre-approved international merchant sites. Local merchants will still be unable to receive payments via PayPal until sometime in the future.

Sources: Forbes, Reuters

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