PayPal announces successful Nigerian launch

PayPal (NASDAQ:EBAY) has signed up tens of thousands of Nigerian customers after opening its online platform in the country last week.

In a market often plagued by financial fraud, PayPal is offering online payment alternatives to Nigeria - Africa's largest economy.

The company announced last month that in intends to enter ten new nations, bringing the total number of countries serviced to 203.

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Comments (6)
  • Nick Cox
    , contributor
    Comments (1441) | Send Message
    Well,that is putting their heads in the fire.
    Nigeria,which must contain more crooks per sq km than any other country on earth,is at the centre of world Internet fraud scams in a country where corruption is institutionalised.So I guess those honest Nigerians will need Pay Pal more than anyone,though at the same time the scam merchants abounding in Nigeria will do their best to corrupt and wreck Pay pal's operations there.
    23 Jul 2014, 04:01 AM Reply Like
  • leopardtrader
    , contributor
    Comments (3800) | Send Message
    There fraud everywhere. Nigeria version is not even near as sophisticated as ones from Eastern Europe and Asia. Greedy fools that send money fraudsters to help steal "inheritance" or proceed of corruption deserve no mercy. Paypal business model is not open to exploits even in sophisticated fraud environment in developed countries not to talk about Nigeria.
    This is however a pretty big deal for paypal ( Ebay) here consideraing 25% of every black person on earth is a Nigerian and unlike other blacks Nigerians appear to posses pretty higher IQ and thus much more succesful
    23 Jul 2014, 04:10 AM Reply Like
  • Investing Doc
    , contributor
    Comments (1038) | Send Message
    I'm not even sure how to respond to your comment, which teems with generalizations about Nigeria, Europe, and black people, which, given your avatar, is very, very difficult to interpret.
    23 Jul 2014, 04:26 AM Reply Like
  • DeepValueLover
    , contributor
    Comments (11330) | Send Message
    Goodbye, credibility.
    23 Jul 2014, 05:27 AM Reply Like
  • Seeker137
    , contributor
    Comments (426) | Send Message
    @DeepValueLover, yes, whatever inkling of credibility PayPal enjoyed previously just took a major hit. Can just imagine the scam emails millions of PayPal account holders will be receiving from Nigerian con artists asking them to involve their PayPal or bank accounts in some clandestine money transfer for which they will be generously rewarded...
    23 Jul 2014, 08:32 AM Reply Like
  • Michael Bryant
    , contributor
    Comments (7218) | Send Message
    Has Nigeria managed to control the killing and kidnapping? Two oil companies already pulled out. I think Nigeria can become very prosperous, but they need to control the fighting. And their government seems corrupt.
    23 Jul 2014, 09:31 PM Reply Like
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