Online payment processor PayPal has finally heard the cries of over 60 Million internet users in Nigeria. According to Reuters, Paypal is opening business in Nigeria and 9 other new countries starting from today. PayPal remains the most widely accepted online payment method.
The 10 new countries are Nigeria, Belarus, Macedonia, Moldova, Montenegro, Paraguay , Monaco, Cameroon, Ivory Coast and Zimbabwe. Nigeria is said to have the largest potential market with over 60 million internet users.
According to PayPal executive Rupert Keeley PayPal will not introduce its full services in the new countries at once, only the “send money” feature will be introduced at first. This feature will allow users to make payments to PayPal approved merchants.
This is definitely a good news for Nigeria internet users (including myself :D) who have found it difficult to transact/make payments online due to the restrictions we had in the past. It is indeed a prayer answered.
In another development, MasterCard Inc, the world’s second-largest debit and credit card company disclosed last week that it was working with the Nigerian government on a pilot to overlay payment technology on a new national identity card.