It's indeed clear that the unwillingness of Paypal to include Nigeria in its network is, in fact, a wrong choice. Years back, even as Paypal has decided to ignore setting up in Nigeria probably due to her global transparency stance, many Nigerians were still eager to make use of their platform. Everybody needs comfort in his or her everyday activities which has given birth to e-commerce where consumers can easily access shops, buy items even in another country and get them across to their doorstep with just a few number of CLICK on the computer system over the internet. Paypal has decided to be a medium of making payment between these two parties (the seller and the buyer) which is really working out excellently well.
Many countries,mostly in the western world have long been enjoying these benefits and Africa,most especially Nigeria, has been left behind. One would wonder, when will this be over? Well, the Over-time has arrived as Paypal has currently launched itself in Nigeria. Outstanding enough, Paypal has received more than tens of thousands customer signing up to their network within the first week of their arrival and majority of these customers are already shopping online within and outside the country. It is regarded that e-commerce is still at its infant stage in Nigeria with some notable local firms like Jumia,Konga etc making the industry grow fast.
Paypal launched in South Africa four years ago, Kenya last year and now Nigeria last month making the 203rd country Paypal is serving. The main issues these firms are having now is internet security and fraud which is said to be predominant in Nigeria and causing a setback to her e-commerce . First Bank,Paypal partner in Nigeria with over 10.5 million customers, revealed that where 63 million people have internet data subsription, only 1% make online transaction, although, these trend is increasing. Another challenge spotted in lack of infrastructure, port delay, and other supply chain setbacks, the task of persuading shopper to put trust on website with their bank details- it is believed that Paypal will help make quick improvement.
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