PayPal: 1 million accounts in South Africa

Online payments giant PayPal has recently recorded account number 1 million in South Africa, a major milestone since it started operating in this country four years ago.

PayPal offers a secure and simple way of making payments on the web without having to enter their banking details with every purchase made. In South Africa, PayPal partners with local bank FNB, which allowed the service to be more easily implemented.

With 152 million active accounts in 203 markets around the world, PayPal has recently launched in nine countries in Africa, including Nigeria. Malvina Goldfeld of PayPal has high hopes that her company will be successful in the challenging African market. “Online commerce creates a world of opportunities for buyers and sellers, but entering card details on an overseas website or accepting a payment from someone overseas can be concerning”.

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