Paypal
Paypal is an online payment system that enables its users to send money online, using their credit/debit card, funds from their bank account or Paypal account balance. Paypal also serves as an online wallet that enables users to to save online, and even invest in the Money Market (US users only). Paypal users can also receive money online and later withdraw it to their local or US bank account, request for a cheque from Paypal, or withdraw funds using a Paypal debit card or shop online.
Features offered by Paypal vary from country to country. For example, local bank withdrawal is unavailable to users in Malaysia (who however can withdraw to a US bank account), but is available to users in Singapore. Many countries (including South Africa) can only send money via Paypal, and do not have the privilege of receiving funds via Paypal.
Paypal is available to users in only 190 countries and the US-based company lays claim to over 100 million accounts. This makes Paypal a must for any serious online merchant. Leading online stores like Dell, Skype, ebay etc accept funds via Paypal.
Another good feature of Paypal is that it shields your financial payment information (credit/debit card and or bank account details) to a large extent. You only need to store your financial information with Paypal, and do not need to share it with merchants or other Paypal users since all you need to complete a transaction is your email address (one attached to Paypal) and Paypal account password when making payment.
Paypal is not without downsides. Users contend that Paypal does not pay interest on the money it stores on behalf of its users though it earns interest on such money in its own bank accounts. Others point out to the fact that all a crook needs is your Paypal-attached email address and account password to gain access and wipe out your account balance. I can however point out that going by Paypal’s huge responsibility of securing over 100 million accounts, various security checks & balances are in place to reduce the incidence of fraud to the barest minimum. The security measures I know of are too innumerable for me to list here.
How can Paypal be of use to you?
Your use of Paypal will depend on what exactly you intend to do online. Are you an online shopper, a small-time seller or a full-blown merchant? Paypal has something for you.
Personal Accounts: This allows users to send/receive money online for free but receiving credit/debit card payment is limited to 5 times a year and attracts charges higher than Premier/Business accounts.
Premier Accounts: This allows users to access the following: eBay Tools, Merchant Services, Accept credit or debit cards, PayPal ATM/Debit Card.
Business Accounts: This functions basically as a Premier account with the added benefit of being able to do business in the name of your company and also provide multiple access (with varying degree of control) to the Paypal account.
According to Paypal’s website,
PayPal allows members to have one Personal account and one Premier or Business account. However, each PayPal account must contain unique email addresses and financial information. You may upgrade your account at any time.
In a nutshell, Paypal opens you to today’s e-commerce world. You too can join now by signing-up for a Paypal account. Click on the banner below to do so now.
[...] Paypal has expanded even further in more countries in Africa, and other parts of the world. I have highlighted the African countries below: [...]
Good information you have provided in this article. Nice job.
Only wish they will reconsider their stance on Nigeria.
By the way, I got here from your post on Nairaland.
Cheers.
david,
youve got a fine website here,infact your websites are really enchanting,how can i get a website like yours and how much will it cost me,looking forward to hearing from you soon.
Paypal is an old and secure method to proceess payments, (receive and send money), maybe Alertpay is a new alternative, alerta pay is growing and many people we are expecting about the possibiliti to have different otpions to process our payments or withdrawals.
E-Gold is a good option too.
[...] PayPal: This is the number one choice for most, in making payment online. And why not? Currently, PayPal operates in 190 markets, and it manages over 164 million accounts. PayPal allows customers to send, receive, and hold funds in 17 currencies worldwide. These currencies are the U.S. dollar, Canadian dollar, Australian dollar, Euro, Pound sterling, Japanese yen, Chinese renminbi, Czech Koruna, Danish krone, Hong Kong dollar, Hungarian forint, New Zealand dollar, Norwegian krone, Polish zloty, Singapore dollar, Swedish krona, and Swiss franc. PayPal operates locally in 14 countries. My point is, there is no other internet payment system with a wider global reach than PayPal. [...]
how can we exchange money from moneybooker to alertpay. plz tell me.
How do I fund my alertpay account? I live in Nigeria
I want to to fund alertpay as well as paypal. How can i do that?
[...] PayPal: This is the number one choice for most, in making payment online. And why not? Currently, PayPal operates in 190 markets, and it manages over 164 million accounts. PayPal allows customers to send, receive, and hold funds in 17 currencies worldwide. These currencies are the U.S. dollar, Canadian dollar, Australian dollar, Euro, Pound sterling, Japanese yen, Chinese renminbi, Czech Koruna, Danish krone, Hong Kong dollar, Hungarian forint, New Zealand dollar, Norwegian krone, Polish zloty, Singapore dollar, Swedish krona, and Swiss franc. PayPal operates locally in 14 countries. My point is, there is no other internet payment system with a wider global reach than PayPal. [...]
This Paypal thing has become inevitable. Pls can someone help me on how to fund my Paypal account from Nigeria
How can one verified paypal account and what rate to a dollar in funding.
PLEASE HOW CAN NIGERIANS BE CONSIDERED FOR A PAYPAL ACCOUNT
if you need to verify your paypal account pls get intouch with me at maloxy007′gmail.com. i will do that for for 10,000
Yemi,what is the fee for?And don’t you think N10,000 is too much?And that’s why you are not getting much response/patronage.
Please can you give me the direction to enable me fund my unverified paypal account. Thank you.
Paypal is of course the market leader in online payment. They have been around for very long. If they choose to refuse users from countries like Nigeria, a more innovative service can come at anytime and beat them. Remember the web is fast changing especially lately. New services that threat the existence of market leaders are born now almost overnight.
Can someone teach me how to open Paypal account as a Nigerinan residing in Nigeria?It’s urgent pls.
@mike,i have d step by step way of opening and verifying paypal here in naija,just contact me
I need to urgently make payment for an online transaction and the payment option is paypal, which i don’t have. Is there a way you can help me make payment and i give you the equivalent back in local currency, pls let me know asap as this is very urgent.
hello i want to fund my paypal account via liberty reserve. If that is possible here just let me know because i actually intend funding my paypal account with $50 but i only have fund in my liberty reserve account. Just alert me now because it’s urgent
Some body has promised to send me money from the USA, and am in Uganda, how can I receive money via PayPal in Uganda?
Ronald – Uganda.
@mike and any other person that is interested in opening and verifying paypal,should contact.i have the stepbystep way of opening and verifying your paypal which will be sent to your email for your consumption.