US-based online payments system PayPal has stated that Nigeria has become its second largest market in Africa, boosting the eCommerce boom in the sub-continent
South Africa, however, remains the company’s largest market in sub-Saharan Africa, with more than a million customers to date.
Malvina Goldfeld, head of business development at PayPal for sub-Saharan Africa, said, “We are very happy to see that PayPal has been widely welcomed by Nigerians since the launch of the service in the country last year. Over time, we plan to expand our service offering in Nigeria to include services that will lead to better experiences in online and mobile payment methods in Nigeria.”
Though PayPal is yet to initiate payment getaways to merchants, customers in Nigeria can open an account and send money internationally for free, added Goldfeld.
eCommerce is a growing trend in sub-Saharan Africa, with online retailers such as Konga and Jumia having made their presence felt already. According to Goldfeld, Nigeria is an interesting market and PayPal may expand its presence eventually in the West African nation.
