PayPal has revealed that over a million South African consumers now have active PayPal accounts across the country. PayPal also stated that the company has over 152 million active accounts in 203 markets around the world, including: Algeria, Kenya, Rwanda, and Zimbabwe. According to the company, the milestone is thanks to a deal that was signed with FNB four years ago.
Malvina Goldfeld from PayPal stated that: “Online commerce creates a world of opportunities for buyers and sellers, but entering card details on an overseas website or accepting a payment from someone overseas can be concerning. What PayPal represents is trust, which is why we process over nine million payments every day, including 2.4 million international payments.”
“One million accounts is an extremely significant milestone for both PayPal and FNB,” adds Erna Vakis, General Manager for complementary online services at First National Bank.
As part of the one million account holders now registered in South Africa, PayPal helps a number of South African businesses accept online payments, including Mr. Price, Netflorist and Singita.
“E-commerce forces you to think globally,” states Ryan Bacher, managing director and founder of Netflorist. “With a high-quality, reputable brand, your potential customers are not only those in your home country. Many South Africans now living overseas use our website to send flowers to family back home for example. As a globally recognized and accepted brand, the PayPal payment option makes people feel more secure when making their final payment.”