PayPal South African
South Africa's FNB and PayPal have closed the deal so many South African where waiting for, the agreement will enable customers to make or receive payments for goods and services online, and be able to pay for things and send money without sharing their financial information. FNB customers in South Africa would be able to sell goods and services to PayPal global users base of more than 81 million active customers and 190 markets.
PayPal Open to Customers in South Africa
PayPal Services via Online Banking is a " first of its kind " in South Africa and is exclusive to FirstRand Group clients! With this exciting new service you can sell products over the web and receive payment directly into your PayPal Account. By using PayPal Services you eliminate the security risk of exposing your credit card or bank account number, ensuring safe and secure transactions.
What can you do with PayPal?
- Use your PayPal Account to make or receive international payments online for goods and services.
- Shop online at merchants in 67 countries and regions.
- Pay for things and send money without sharing your financial information.
- Checkout quickly at hundreds of your favourite online stores.
- Receive payments from buyers in 190 countries and regions.
PayPal has started to offer international online banking to customers of South Africa's First National Bank, with plans under way to roll out services to many other countries on the continent.PayPal's partnership with the South African bank is the company's first such relationship in Africa and marks its first big step in promoting and expanding e-commerce in the region.The deal between PayPal and First National Bank means that the bank's customers in South Africa can now access PayPal users around the world, making and receiving payments for products online and eliminating the risk of exposing bank account numbers. Customers are also allowed to top up or withdraw funds from First National Bank accounts via a registered PayPal account, provided the two accounts are linked. First National Bank is owned by FirstRand, South Africa's second-largest banking group, which is looking for expansion opportunities in Nigeria and already has operations in Namibia, Zambia, Mozambique and Lesotho. PayPal will quickly roll out services to the countries where First National Bank already has a presence. PayPal's regional director for Israel and South Africa, Oded Zehavi, said the company has plans to spread across Africa. Zehavi said PayPal customers in South Africa can send money using their credit cards with PayPal in many African countries, but can only top up or withdraw from their First National Bank in South Africa.
The service is also expected to improve eBay's profile in South Africa and later in many other African countries, as PayPal is the primary means of payment on the site. EBay, a vast commerce marketplace where buyers and sellers connect, has long made efforts to ensure that brands sold on the site are legitimate and that posts from sellers peddling counterfeit goods are quickly removed.