PayPal is entering 10 new countries this week, including Nigeria, providing online payment alternatives for consumers via mobile phones or PCs in markets often blighted by financial fraud.
This will be a good news for bloggers and internet marketers in Nigeria. Earlier this month, i published an article about the Petition launched to bring PayPal to Nigeria
Rupert Keeley, the executive in charge of the EMEA region of PayPal, the payments unit of eBay Inc, said in an interview on Monday the expansion would bring the number of countries it serves to 203.
Starting on Tuesday, consumers in Nigeria, which has 60 million users and has Africa’s largest population, along with nine other markets in sub-Saharan Africa, Eastern Europe and Latin America will be able to make payments through PayPal.
“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,” Keeley said.
Once the services go live, customers in the 10 countries with access to the Web and a bank card authorised for Internet transactions will be able to register for a PayPal account and make payments to millions of sites worldwide.
Initially, PayPal is only offering “send money” services for consumers to pay for goods and services at PayPal-enabled merchant sites while safeguarding their financial details. This is free to consumers and covered by fees it charges merchants.
“We think we can give our sellers selling into this market a great deal of reassurance,” said Keeley, a former regional banking executive with Standard Chartered Plc and senior executive with payment card company Visa Inc.
The 10 Countries are Belarus, Cameroon, Côte d’Ivoire, Macedonia, Moldova, Monaco, Montenegro, Nigeria, Paraguay, and Zimbabwe
A total of 80 million Internet users stand to gain access to PayPal global services this week, including those in five European markets – Belarus, Macedonia, Moldova, Monaco and Montenegro, four in the African nations of Nigeria, Cameroon, Ivory Coast, and Zimbabwe, as well as Paraguay. Internet usage figures are based on research by Euromonitor International.
Now, by registering for a PayPal account, the people in these ten markets can shop online at millions of websites with the peace of mind that comes from knowing we don’t share their financial information with any merchant.
And, if something does go wrong – a product doesn’t arrive or doesn’t match the seller’s description, for example – they have the added assurance that they may be reimbursed the cost of the purchase and the postage on eligible items, thanks to PayPal Buyer Protection
PayPal counts 148 million active accounts worldwide.
Last week, MasterCard Inc, the world’s second-largest debit and credit card company, and a PayPal rival in payment processing, said it was working with the Nigerian government on a pilot to overlay payment technology on a new national identity card.
PayPal has operated in 190 markets since 2007 and added three countries – Egypt, Georgia and Serbia last year. Roughly a quarter of the $52 billion in payment volumes PayPal reported in the first quarter of 2014 were for cross-border transactions.
To be sincere, am very excited and happy towards this new development. Am even dancing AZONTO at the moment 🙂
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