Online payment service PayPal has announced its expansion into 10 additional countries, including Nigeria, which the company previously pulled out of due to the high rate of financial fraud in the West African country.
Starting today, Cameroon, Côte d’Ivoire, Nigeria, and Zimbabwe all join 47 other countries around Africa where PayPal is available. The service has also been expanded to Belarus, Macedonia, Moldova, Monaco, Montenegro and Paraguay, taking the total number of countries PayPal services to 203.
“As technology continues to break down barriers, the world is getting smaller. We can buy the things we want from almost anywhere in the world and many people in these ten markets rely on overseas websites to get access to the goods and services they can’t find at home,” says PayPal.
“Why these markets and why now, you might ask? It takes a lot of careful planning and preparation to enter a new market, and we take our responsibility to manage people’s money very seriously. We believe we can seamlessly integrate these markets into our platform and provide the investment and resources needed in things like customer service. More importantly, we believe there is demand. Demand for a safer way to pay and take part in the global commerce revolution.”
For now, customers in these 10 countries can only pay for goods and services at PayPal-enabled merchant sites, meaning they will not be able to send or receive money through PayPal or use other banking services just yet.
This announcement probably comes as good news to the Nigerian locals who created a petition earlier this month on Change.org, calling on PayPal to bring its service back to Nigeria, in order to boost business and make ecommerce easier for Nigerians.[Source – PayPal Blog, Image – File]