{"id":47371,"date":"2017-05-25T12:07:09","date_gmt":"2017-05-25T11:07:09","guid":{"rendered":"https:\/\/buzznigeria.com\/?p=47371"},"modified":"2022-07-11T18:54:41","modified_gmt":"2022-07-11T17:54:41","slug":"paypal-account-need-know","status":"publish","type":"post","link":"https:\/\/buzznigeria.com\/paypal-account-need-know\/","title":{"rendered":"Does Paypal Work in Nigeria? Here\u2019s How to Open an Account, Verify and Use the Service"},"content":{"rendered":"

PayPal is very much available in Nigeria and Nigerians can open personal accounts to send money, make payments or shop online. However, while the option of receiving money with a personal account is not unavailable, one can receive PayPal payments through a PayPal business account. <\/strong><\/p>\n

To be able to use the payment processor, you must first open a PayPal account by signing up here<\/a> and getting your account verified.\u00a0<\/strong><\/p>\n

There are numerous online payment platforms available all over Nigeria today, and Paypal is one of them. Many of their services facilitate easy ways to pay even if you own a business that you have created recently. Paypal found its feet among the online payment platform, and since its inception, it has been among the best choice for some users.<\/p>\n

Some other giants in online payment in terms of transactions are VisaNet, MasterCardNet, JCB Network, China UnionPay, and American Express net. Collectively they accounted for about 99.9% of all online payments, totaling about US$235.7 billion.<\/p>\n

Paypal is widely Used as an Alternative Payment Processor<\/strong><\/h2>\n

Paypal is one of the most widely used alternative payment processors globally. They are accepted by millions of online businesses for processing payments. Some of the uses include paying hotel bills, shopping online at places like eBay and Amazon, transferring money to friends and family members, sending money internationally, sending money to mobile phones, reloadable debit cards, and even paying utility bills. It is a global payment system that offers personal accounts, business accounts, and a merchant account (e-commerce). To small businesses, it averts the cost of building up their own credit card processing system and purchasing merchant accounts with their banks.<\/p>\n

Paypal Was Introduced in Nigeria in July 2014<\/strong><\/h3>\n

PayPal works in Nigeria but with a little restriction on receiving funds with your PayPal personal account. The online wallet service, which was registered in the United States of America, also hit an official recognition to be used in Nigeria in July 2014. As it was observed that Nigerians who have access to use the service are those that reside outside the country where the service is enabled. But now it is fully operational within the country.<\/p>\n

PayPal Usage Restriction in Nigeria<\/strong><\/h3>\n

Since the wallet was recognized as a means of sending and receiving funds in Nigeria to date it has restricted a particular service which is the inability to receive funds using the individual PayPal account. The reason is to protect the service rendered to its customers as the access to such services in the country can pose a security threat.<\/p>\n

To receive funds through Papal in Nigeria you have to open a business account. However, with a personal account, one can actually transfer money, fund the account, shop online, and do other PayPal financial tasks, which do not relate to receiving funds online through the platform.<\/p>\n

The Importance Of Using The PayPal Payment Platform<\/b><\/h2>\n
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A post shared by PayPal (@paypal)<\/a><\/p>\n<\/div>\n<\/blockquote>\n