A representative of the international payments and money transfer firm, Paypal, recently revealed that, apart from South Africa, Nigeria is the second largest market for their payment solution, followed by Kenya.
“We are happy to see that PayPal has been widely welcomed by Nigerians since the launch of the service in the country last year,” the Head of Business Development Sub-Saharan Africa, Malvina Goldfeld said.
The company entered into the Nigerian market in June last year, giving Nigerian customers the opportunity to pay for foreign goods and open free accounts. However, they are yet to make it possible for customers to receive money from overseas.
Regarding this, she explained that: “such may happen over time, but for now, they are satisfied with just allowing Nigerians to make overseas payments”.
The company is neither offering other forms of banking services nor enabling peer-to-peer transactions yet.
“There are millions of people in Nigeria who are eager to engage in online commerce and our goal is to help them make payments more easy and secured. Currently, we offer Nigerians the opportunity to register free for a PayPal account to make payments on overseas websites. Over time we plan to expand our service offering in Nigeria to include services that will lead to better experiences in online and mobile payment methods in Nigeria,” she added further.