Malvina Goldfield, PayPal Head of Business Development, sub-Saharan Africa, has claimed that the company is planning to further expand its service offering in Nigeria to include online and mobile payment methods in Nigeria, thisdaylive.com reports.
Although PayPals customers in Nigeria can open an account and send money internationally, merchants who want to receive money from across borders cannot, presently, have such a feature included in its payment offering. PayPal signed up an impressive number of Nigerians in its first week of operating in 2014 in Africas biggest economy, with consumers already purchasing items from the UK, China and the US via its online platform.
Ecommerce remains in its infancy in most of Africa but is growing exponentially with the advent of online retailers such as Jumia, partly owned by South African phone operator MTN, and a growing middle class with money to spend. Before the launch of PayPal, Nigerians could not buy goods directly from foreign merchants. PayPal entered Nigeria and 10 other nations in 2014, providing online payment alternatives for consumers via mobile phones or personal computers in markets often blighted by financial fraud. The new markets bring the number of countries PayPal serves to 203.
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