PayPal is entering 10 new countries this week, including Nigeria, providing online payment alternatives for consumers via mobile phones or PCs in markets often blighted by financial fraud. Rupert Keeley, the executive in charge of the EMEA region of PayPal, the payments unit of eBay Inc (EBAY.O), said in an interview on Monday the expansion would bring the number of countries it serves to 203. This simply means you no longer need to change or hide your IP address for you to open a Paypal account from Nigeria.
Starting on Tuesday, 17th June 2014, consumers in Nigeria, which has 60 million internet users and has Africa’s largest population, along with nine other markets in sub-Saharan Africa, Eastern Europe, and Latin America will be able to make payments through PayPal.
“PayPal has been going through a period of reinvention, refreshing many of its services to make them easier to use on mobile (phones), allowing us to expand into fast-developing markets,” Keeley said.
Initially, PayPal is only offering “send money” services for consumers to pay for goods and services at PayPal-enabled merchant sites while safeguarding their financial details. This is free to consumers and covered by fees it charges merchants.
You can now create an account with PayPal from Nigeria.
You can either create an individual account or a business account. To do this, simply go to PayPal for Nigeria. To make the most of your PayPal account, you will need to enter your credit card information. That would help you to pay right away – get set up in seconds; Pay without exposing your card number to merchants and no need to retype your credit card information. Make sure you confirm your email address after account creation. You will need the full Billing Address as it appears on your Credit or Debit Card.
You will need to add your credit card details (VISA, MasterCard etc) if you want your PayPal account to be verified. If it’s not verified, you won’t be able to use the account. After you add your credit card details, PayPal will charge the card $1.95 USD to make sure it’s yours. You’ll be refunded the money within 24 hours after you confirm your card.
You can send up to $250.00 USD before you reach your limit. However, you lift this limit by verifying your PayPal account with your credit card details.
Once you add your card details, PayPal would ask you to confirm your card by providing a unique 4-digit code that would appear on the transaction when you check your bank statement. Once you do so, you will get a confirmation that your card has been confirmed and account verified.
In your PayPal account, you will see the tab you can click on to send money to a merchant. Sending money for purchases is free for you. The seller pays the fees. Your eligible transactions are covered with Buyer Protection.
Please note: PayPal in Nigeria does not yet cover peer-to-peer transactions, which allow consumers to send money to other consumers. It has not yet enabled local merchants in the new markets to receive payments, nor is it offering other forms of banking services. It is expected that PayPal would add more features in the future. You may need to subscribe to this blog to get further updates about PayPal and the best ways to make money online in Nigeria