PayPal enters Nigeria and other 9 countries this week to provide online payment alternatives for consumers via mobile phones or PCs in markets that are usually affected by financial fraud.
Rupert Keeley, the executive in charge of the EMEA region of PayPal – the payments unit of eBay Inc, said that the expansion would bring the number of countries they serve to 203. He explained, “PayPal has been going through a period reinvention, refreshing many of its services to make them easier to use on mobile, allowing us to expand into fast-developing markets.”
Starting today, Nigerians along with nine other countries in sub-Saharan Africa, Eastern Europe and Latin America will be able to make payments through PayPal. With the service going live, customers from these 10 countries with access to the web and a bank card authorized for internet transactions will be able to register for a PayPal account and make payments to millions of sites worldwide.
Mr. Keely said PayPal does not yet cover peer-to-peer transactions which allow consumers to send money to other consumers. It has not yet enabled local merchants in the new markets to receive payments nor is it offering other forms of banking services.
Euromonitor International stated that based on its research, a total of 80 million internet users stand to gain access to PayPal global services this week adding those in five European markets – Belarus, Macedonia, Moldova, Monaco and Montenegro, four from the African nations-Nigeria, Cameroon, Ivory Coast and Zimbabwe as well as Paraguay.