”Tens of thousand” of Nigerians have signed up on PayPal after its official launch in Nigeria and are already purchasing stuff online from local sites such as Konga, Jumia and from Britain, China and the US according to a report by Reuters.
“We have seen great uptake by Nigerians in terms of coverage,” Malvina Goldfeld, PayPal’s head of business development for sub-Saharan Africa told the paper adding that Nigerians were buying more from the United States, Britain and China especially electronics and fashion.
PayPal launched in Nigeria mid June as well as Cameroon, Ivory Coast, and Zimbabwe and four other nations in Latin America. PayPal has also partnered with a local bank to make sure Nigerians receive money though PayPal, similar to a deal it signed in Kenya with Equity Bank. Nigeria has been a dreaded market associated with online fraud for years but the continent’s larges economy is steadily becoming attractive for everyone with multinational firms now embracing it than blacklisting it as they used to.
Before PayPal’s launch in Nigeria, Goldfeld told TechMoran that PayPal’s launch in Nigeria would be be a big day for businesses in the country.
“That would be a big day for sure, would be amazing.”