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Author Topic: PayPal signs "ten of thousands" customers in Nigerian launch  (Read 836 times)

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PayPal signs "ten of thousands" customers in Nigerian launch

Tags: PayPal,  Nigeria Launch,  E-Commerce,  Online Shopping,  PayPal Customers
PayPal signs Lagos: PayPal has signed up "tens of thousand" of Nigerians in its first week of operating in Africa`s biggest economy, with consumers already purchasing items from Britain, China and the United States via its online platform, a company official said.

E-commerce 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.

Citizens of Africa`s most populous nation could not buy goods directly from foreign merchants before the launch by PayPal, the payments unit of online auctioneer eBay Inc .

"We have seen great uptake by Nigerians ... in terms of coverage," Malvina Goldfeld, PayPal`s head of business development for sub-Saharan Africa, said in Lagos on Tuesday.

PayPal entered Nigeria and 10 other nations last month, providing online payment alternatives for consumers via mobile phones or PCs in markets often blighted by financial fraud. The new markets bring the number of countries PayPal serves to 203.

Goldfeld said that Paypal secured a few deals with electronics suppliers in China and Dubai ahead of its launch and that it had partnered with Nigerian lender First Bank , which has more than 10.5 million customers.

PayPal launched its platform in South Africa four years ago, Kenya last year and now Nigeria, Goldfeld said, giving the company access to shoppers across 40 sub-saharan African countries.

Goldfeld said the biggest interest has been in products from the United States, Britain and China, adding: "People are buying everything ... (but) there`s definitely a concentration in electronics and fashion."

Online retailer Jumia told Reuters in April it had 100,000 Nigerian customer accounts and sales were increasing by 15 percent a month.

However, worries over internet security and online fraud have held back e-commerce growth in Nigeria, where 63 million people have active internet data subscriptions but only 1 percent of them make online transactions, First Bank said, noting that online purchases are expected to reach $1 billion this year.

Though challenges remain - including abysmal infrastructure, port delays, other supply chain woes and the task of persuading shoppers to trust websites with their bank details - Goldfeld says PayPal`s reach will help to speed improvements.

"A lot of the merchants that we work with ... already ship to Nigeria. I think that the growth of e-commerce will push the logistics customers to up their game," she said.


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I said it, they're just trying to eat our money. What I really want to hear about this Paypal thing is that we can now receive money into our Nigerian Paypal account.

Anytime you get the information please let us know.
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I said it, they're just trying to eat our money. What I really want to hear about this Paypal thing is that we can now receive money into our Nigerian Paypal account.

Anytime you get the information please let us know.

Yah - They are creating avenue for us to be spending our monies.  I think a stage will be reached that PayPal will allow us to be receiving money into our Nigerian PayPal Account.  Let us be patient and be watching with keen interest.

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Aare MacFally
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Aare McFally thanks for this info but could you please add the source link to make the article complete? Thanks
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Like I have been saying on this forum. It all depends on what you do online. You can still convert your purchase to turn in your favour. There are several ways you can boost traffic to your site by making paypal purchases.

You don't have to depend on free traffic alone espe ially now that media buying is speedily reoccuring at a very massive speed.


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Aare McFally thanks for this info but could you please add the source link to make the article complete? Thanks

Correction is noted.

Tks and best regards...

Aare MacFally
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Does it mean one can now buy stuffs from websites like amzon and ebay? Would they ship directly to Nigeria?
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@ Alexis29
Your question has already been answered in a similar thread. Follow this link and check Mukaila's question and the response.  You are not allowed to view links. Register or Login
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Very well pointed out Lucy. Paypal thought we cannot do without them; now they see we are succeeding they are back to compete with jumia, konga and the likes just to eat our money, they should let us receive money through them. Anyways, half bread is better than chin chin, since we can finally use them to shop US sites. I learnt FirstBank is their official partner in Nigeria, so if you use FirstBank online banking, you will see Paypal listed automatically on your account.
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@ Iykestar

Wow, it means I will have to activate my firstbank online banking.

But I hope money will not start disappearing from my account oh, these electronic system thing ordinary ATM malfunctioning and you will go to bank for two months before refunds of your money or you might end up hearing stories and your money will enter voice mail.

Okay oh, I think I will open a special account for this online thing so that I will put only money I'm ready to spend when I'm ready to spend it.
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@Lucy,
Lol, activate your First online banking, nothing will happen to your money just be sure you don't access the online platform via any link but through First Bank website, never reveal your login info or token number to anyone and I tell you, you are safe. As for opening a new account, its a good idea actually  that's what I do, even with their Visa Card I use for online stuffs and everything works smoothly.
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