PayPal is a leading global payments company that provides financial services. It was founded in 1998 with the aim of giving people better ways to send and receive money online. Today, it’s a global platform for digital payments with billions of dollars exchanged each year. But is PayPal now in Nigeria?
This guide is for Nigerians who would like to sign up for a PayPal account and use it to make online payments.
Does PayPal work in Nigeria?
PayPal’s services are available in over 200 markets around the world. Allowing 392 million active customers to withdraw funds in 56 currencies and send payments in 26 currencies. So, does this include Nigeria?
Short answer is, YES! Nigeria is indeed one of the countries where PayPal provides services.
Nigerians are now able to use PayPal for their everyday transactions. Such as paying bills, shopping online and sending or receiving money from friends and relatives. Anytime, anywhere in Nigeria with just a few clicks on their mobile phone.
They can also open a business account to receive funds online in Nigeria.
Why is it important for Nigerians to have Paypal accounts?
Nigerians are becoming increasingly more dependent on the internet. They are more and more reliant on e-commerce platforms like Jumia, Konga… to purchase goods. The internet has been the driving force in Nigeria’s recent economic growth. And it is only expected to grow in the future!
In the past, Nigeria had a lot of issues with banking systems. Making it extremely difficult for the people to purchase anything online. PayPal has been one of the solutions for this problem. The account can be used for a variety of purposes. Like sending money, paying bills, and buying items from online stores.
The percentage of Nigerians using PayPal as a mode of payment has been increasing year after year. This is due to the convenience it offers users. In addition to its ability to provide a safe, secure and reliable platform for transactions.
How to create a PayPal account in Nigeria?
PayPal offers three types of account in Nigeria:
- The personal account can be used for sending or receiving money from anyone with an email address or mobile phone number.
- The premier account is for people who want to make international transactions with their Nigerian bank account.
- The business account is for Nigerian companies who want to receive international payments from customers outside Nigeria.
In Nigeria, PayPal is the most popular e-payment system for both buyers and sellers. Here’s how you can create your first PayPal account in Nigeria in 5 easy steps:
- Go to www.paypal.com then click on the “Sign Up” button at the top of the page.
- Enter your email address, password, and security question answer in the fields provided and click on “Create Account”.
- Enter your personal details such as name, date of birth, country of residence… in the appropriate fields and click on “Submit”. You will also need to provide your phone number for SMS-based authentication.
- Verify your email address by clicking on the link sent to you by PayPal.
- Log into your account using your username (email) and password created earlier.
How to send money to Nigeria from overseas via PayPal?
There are many reasons why one might want to send money to Nigeria from overseas. For example, you may need to send money to your Nigerian family or friends for a wedding gift or an emergency.
The process of sending money from overseas via PayPal is relatively simple and straightforward. But the first thing you need to do is create a PayPal account.
- Open your PayPal account in your browser and log in.
- Click on the “Send Money” button on the top right corner of the screen.
- Enter your payment details and choose whether you want to make a one-time payment or set up recurring payments.
- Select “Nigeria” as your country and enter the recipient’s email address or mobile number in the recipient field.
- Enter the amount of money you want to send in your local currency, including any fees for transferring funds internationally.
- Review all details and click on “Confirm”.
In order to send money from overseas via PayPal, you will need a Nigerian bank account and a valid PayPal account. You will also need the recipient’s Nigerian bank account details and their phone number.
How to pay your expenses with PayPal in Nigeria?
PayPal is the most popular online payment platform that allows you to pay for your exenses online in Nigeria. They provide different ways of making payments and each one has its own advantages and disadvantages.
The Nigerian PayPal account comes with three payment options that you can choose from, depending on what suits your needs best:
- Credit Card – The customer needs to have a credit card or debit card.
- Bank Transfer – The customer needs an account with a bank or financial institution.
- PayPal Balance – This is the easiest way of making payments because the customer can use it without having a credit card or bank account. However, it may take longer for the funds to be transferred into your PayPal account.
You can link up to three Nigerian bank accounts and one debit card at any one time. But you will need to make sure that each of these accounts has enough funds before trying to transfer money from them into your PayPal account.
Nigerian PayPal FAQs
What is PayPal?
PayPal is an online payment system that lets people send and receive money online. It is one of the most popular ways to pay for things on the Internet. The PayPal website lets you use your credit card, bank account, or PayPal balance to pay for goods or services. You can also send money to friends and family members using just their email address or mobile phone number.
How do I know if my email has a Nigerian Paypal account?
When you sign up for a Paypal account in Nigeria, you are required to provide your name and a password. These are the first two pieces of information that will be asked from you. The third piece of information is your email address. You need to provide an email address that is not linked to any other account and is not too generic so it can be easily guessed.
What is a verification code and how do I get one?
The verification code is a six-digit number that is used to verify that you are the owner of the account. To get one, you will need to log in to your PayPal account. Then you can go through the step-by-step process of verifying your account.
How to check if my PayPal account is locked or frozen?
If your account is locked or frozen, there are a few steps you can take to unlock it. The first step is to visit PayPal’s website and log into your account using your email address and password. Once logged in, click on “Profile” on the top navigation bar and select “My Account”. If your account is locked or frozen, you will see a message that says “Account Status: LOCKED” followed by a button that says “Unlock”. Clicking this button will prompt PayPal to ask for additional information before unlocking your account.
What are the PayPal fees in Nigeria?
Can I withdraw funds from my Nigerian PayPal account?
You can withdraw your funds from your PayPal account by transferring them to your bank account or by sending them to another PayPal user.
Can I receive funds into my Nigerian PayPal account?
If you have a Nigerian PayPal account, then the answer is yes.
What are the different types of businesses that can open a Paypal account in Nigeria?
Business PayPal accounts can be opened by any business that operates in Nigeria. This includes individuals, sole proprietorships, partnerships, and corporations.