PayPal has announced Nigeria as its second biggest market in Africa, with less than one year after formally launching its services in the West African country. Forbes report.
PayPal’s Head of Business Development, sub-Saharan Africa, Malvina Goldfeld, recently disclosed to tech news site IT Web Africa, while expressing satisfaction with PayPal’s overwhelming success in Nigeria since it officially launched in July last year.
“We are very happy to see that PayPal has been widely welcomed by Nigerians since the launch of the service in the country last year,” Goldfeld said.
She revealed that PayPal is meeting the needs of Nigerians that purchase goods and services on foreign platforms.
“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 easily and securely. Currently, we offer Nigerians the opportunity to register for free for a PayPal account to make payments on overseas websites,” she said.
However, it was learnt that PayPal’s relationship with Nigerian users is one-sided as Nigerians are only allowed to send payments abroad through the platform. Users are currently unable to receive money, and even though Nigerian internet users have continuously demanded for this service, PayPal and Goldfeld have been elusive as to if and when the service will be accessible to Nigerians.
It would be noted that South Africa is PayPal’s largest market in the continent, with more than one million active accounts; Nigeria and Kenya follow closely.