Nigeria, as well as Nine other countries (which cuts across sub-Saharan Africa, Eastern Europe, and Latin America)has recently been enabled to make payments with the use of Paypal. Paypal is an international electronic-commerce payment solution that allows easier access of payment for online transactions.
This has really reduced the stress of payment through cash, money orders, etc. Paypal is fast as well as convenient for payment of transactions online. The Paypal service in Nigeria is expected to go live on the 17th of June,2014, this means that Nigerians (as well as the other countries) that have access to the world wide web and have credid cards that can be used online would be able to make online payment can make use of the Paypal online payment method.
However, there are restrictions for the Nigerian users as they can 'send money' for customers to pay for their goods for now, but cannot send money to other customers.
Paypal is not presently offering other banking services that is being offered in other regions. Another thing that should be noted is that merchant accounts i.e. local online businesses that want to incorporate Paypal would have to wait a bit longer because it is not yet allowed. The good news is that as a Nigerian you would have greater access to more products and your purchasing ability will be increased exponentially.
Do you want to engage in online transaction but you don't seem to know how to go about it? For these set of people Paypal is just the online payment method they have been waiting for, here are the steps on how to make use of your Paypal account in Nigeria.
Sign up
Before you get your Paypal account, you first of all need to sign up. Go to their web page and click on the 'sign up' button, and the sign up page will pop up. Follow these steps to sign up for your account.
Choose the type of account: you are expected to choose the type of account that you want to operate with Paypal, this is either a personal account or a company account, as well as a non-profit organization account. Fill in required information: you are required to fill in necessary information so as to register your profile with Paypal, such information includes:
Email address: you are required to register your email address here
Password: your password is required here, you are required to create a strong password so as not to be easily hacked
Re-enter password: you are required to re-write the password you have just written before, this is to ensure that you did not make mistakes previously.
Names: you are required to write your names to register your profile, these names include your first, middle and last names.
Date of birth: you are required to write your date of birth here, this is done so as to verify if you are real.
Policy: you are expected to go through the policies of Paypal and understand it before you can advance, these policies includes user agreement, private policies, acceptable policies, and the electronic communication delivery policies.After that, you click on agree and sign up account.
Upgrade
Paypal gives you the opportunity to upgrade your account to business or premium, just click on upgrade under your account! Add Money: you can deposit money on Paypal account, it is with these money that you will make online transactions, all you need to do is to click on the 'add money' link and verify your information, you are also expected to transfer funds from your bank by providing Paypal with your bank information, this is free, however, it will take up to like 2-3 days before successfully adding money to your account.
Send and request for money
you can send money through Paypal for the payment of your goods or offsetting your debt, even for transfer to loved one, or friend, through western union money transfer Withdraw money: Click on the withdraw tab then verify your account by providing some basic information. There are options to pick from but a bank transfer withdrawal would be most ideal. Other options includes Cheque, debit transaction (you must have a Paypal debit card), ATM cash withdrawal and others.
#Word of Note
This is a tentative step on the part of Paypal. There is every likelihood that things will pick up since it has taken them this long to set up in Nigeria, and of course, there will be more access to the Paypal facilities. there are other services that Paypal also render to its users, these are:
History: this contains your financial information and history of your transaction, it also contains your tax documents
Statements: here you can find the last 3 months account statements, you can print this statement and you can also choose to download your statements and have a hard copy
Resolution center : at the resolution center, you can request for Paypal's assistance to help you should in case there is payment dispute.
Profile: shows your personal information and it helps you in showing your how genuine you are to other clients
with the advent of Paypal in Nigeria, we can be sure that online business transactions will boom, even more business will spring up, learn how to pay online using Paypal and you can be sure that you will be on your way to convenient online transation at its quickest!!!
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