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Nairaland Forum / Science/Technology / Phones / Nigerians Embrace Paypal In "Ten Of Thousands" (Reuters) (1206 Views)
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Nigerians Embrace Paypal In "Ten Of Thousands" (Reuters) by Sanitty(m): 11:17pm On Jul 22, 2014 |
PayPal signs "ten of thousands" customers in Nigerian launch Tue Jul 22, 2014 7:14pm BST By Chijioke Ohuocha LAGOS (Reuters) - 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. ELECTRONICS AND FASHION 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. http://uk.mobile.reuters.com/article/technologyNews/idUKKBN0FR22L20140722 |
Re: Nigerians Embrace Paypal In "Ten Of Thousands" (Reuters) by fnep2smooth(m): 1:07am On Jul 23, 2014 |
its late i de come. Make i book space |
Re: Nigerians Embrace Paypal In "Ten Of Thousands" (Reuters) by francis247(m): 2:11am On Jul 23, 2014 |
Observing |
Re: Nigerians Embrace Paypal In "Ten Of Thousands" (Reuters) by Nobody: 5:33am On Jul 23, 2014 |
... |
Re: Nigerians Embrace Paypal In "Ten Of Thousands" (Reuters) by DaVinChiSam(m): 6:10am On Jul 23, 2014 |
Okay |
Re: Nigerians Embrace Paypal In "Ten Of Thousands" (Reuters) by saints2(f): 7:45am On Jul 23, 2014 |
I think Paypal can now see that not all Nigerians are fraudlent, that a Nigerian is fraud doesn't mean that the remaining 99.9% are also fraud. Its long overdue. |
Re: Nigerians Embrace Paypal In "Ten Of Thousands" (Reuters) by Bawsse(m): 10:02am On Jul 23, 2014 |
wooow, thats awesome... how do i open?? ![]() ![]() |
Re: Nigerians Embrace Paypal In "Ten Of Thousands" (Reuters) by Warlord3000(m): 11:01am On Jul 23, 2014 |
Mtscheeeew... What is the need.. When we can only spend and not receive money with it for now.. Thunder fire una yansh ![]() |
Re: Nigerians Embrace Paypal In "Ten Of Thousands" (Reuters) by guente02(m): 11:03am On Jul 23, 2014 |
Let them lift those restrictions jooh.... Thats the only thing holding me back from opening the account. |
Re: Nigerians Embrace Paypal In "Ten Of Thousands" (Reuters) by EnterPRO: 12:35pm On Jul 23, 2014 |
guente02: Let them lift those restrictions jooh.... yes oh ! we can't wait for that. |
Re: Nigerians Embrace Paypal In "Ten Of Thousands" (Reuters) by fr3do(m): 12:46pm On Jul 23, 2014 |
We were making online transactions before paypal o! |
Re: Nigerians Embrace Paypal In "Ten Of Thousands" (Reuters) by yomalex(m): 1:02pm On Jul 23, 2014 |
We want to receive our money too not just spending it Paypal Partners With Firstbank |
Re: Nigerians Embrace Paypal In "Ten Of Thousands" (Reuters) by Nobody: 1:28pm On Jul 23, 2014 |
its a nice concept sha but i'm still not happy with the idea of limiting we nigerians nd asking us to update our bank details always.....abeg howmany atm card una want make I add? 1 Like |
Re: Nigerians Embrace Paypal In "Ten Of Thousands" (Reuters) by Samunosuke(m): 2:26pm On Jul 23, 2014 |
phayvorr: its a nice concept sha but i'm still not happy with the idea of limiting we nigerians nd asking us to update our bank details always.....abeg howmany atm card una want make I add?I verified only 1 card and haven't had any issues with it since. Been shopping like no mans business. The report is slightly deceitful though, because I've been shopping on amazon with domiciliary accounts/dollar visa cards and more recently, normal naira mastercards since ~2009. The only (non)problem is shipping to naija of which I have a million relatives and friends in the US who can either ship it or bring it down. |
Re: Nigerians Embrace Paypal In "Ten Of Thousands" (Reuters) by pat077: 2:52pm On Jul 23, 2014 |
what else? |
Re: Nigerians Embrace Paypal In "Ten Of Thousands" (Reuters) by DoroMega: 3:12pm On Jul 23, 2014 |
Would make more sense if they allowed Nigerians receive money. |
Re: Nigerians Embrace Paypal In "Ten Of Thousands" (Reuters) by ayodeji00: 3:39pm On Jul 23, 2014 |
Hello, I am doing a study of the adoption of mobile payment in Nigeria and would appreciate your opinion on the subject. Please fill out my survey https://www.surveymonkey.com/s/VSZDPY7 |
Re: Nigerians Embrace Paypal In "Ten Of Thousands" (Reuters) by Nobody: 3:40pm On Jul 23, 2014 |
Am unable to open an account with paypal up till now, dont why ![]() |
Re: Nigerians Embrace Paypal In "Ten Of Thousands" (Reuters) by hakku: 3:59pm On Jul 23, 2014 |
i jst hope we dont misuse it. |
Re: Nigerians Embrace Paypal In "Ten Of Thousands" (Reuters) by Nobody: 5:29pm On Jul 23, 2014 |
Samunosuke: I verified only 1 card and haven't had any issues with it since. Been shopping like no mans business. The report is slightly deceitful though, because I've been shopping on amazon with domiciliary accounts/dollar visa cards and more recently, normal naira mastercards since ~2009. The only (non)problem is shipping to naija of which I have a million relatives and friends in the US who can either ship it or bring it down.afta verifying 2 of my atm cards, buyin tings on ebay is still showin me restriction errors dat I hav to update my card account either by registerin a new card or linkin it wit a bank account.....ive only been successful in buyin things twice on ebay nd since den, ive been havin dis same error messages.....although ive not tried buyin things on amazon sha |
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