PayPal Holdings, Inc. is an American company operating a worldwide online payments system. Online money transfers serve as electronic alternatives to traditional paper methods like checks and money orders. PayPal is one of the world’s largest internet payment companies. The company operates as an acquirer, performing payment processing for online vendors, auction sites and other commercial users, for which it charges a fee. (Wikipedia).
PayPal was established in 1998, but became available in Nigeria in June 2014. PayPal moved $228 billion in 26 currencies across more than 190 nations, generating a total revenue of $7.9 billion (44% of eBay’s total profits). The same year, eBay announced plans to spin-off PayPal into an independent company the following year. The spin-off was complete on July 18, 2015.
PayPal now talking of acquiring a Chicago based startup company, Modest. Modest makes a mobile commerce platform that focused on the type of commerce which is essentially the fancy umbrella term for tools that allow shoppers to make in-the-moment purchases on the internet. Modest platform allows online retailers to insert buy button on their blogs, ads, apps, emails, and social media. We will write about Modest and PayPal Partnership later. But now I am going to put you through on how to register and confirm your onlinnt in Nigeria.
Registering for PayPal in Nigeria can be a little bit frustrating if you don‘t know much about online payments and banking system. To have your PayPal account registered and verified in Nigeria; these are the simple steps you have to go through:
- Go to paypal.com to register for a new account
- Fill in your necessary details which include your Credit Card info, address and personal details.
- If you successfully signed up, PayPal will require you to confirm your account.
- Your account status will be in Unverified, Click on it to verify your account.
- PayPal will deduct a certain amount from your account, don’t panic, it will be returned
- After 48hrs, go to your bank and request for your account statement. Or you can explain to them an amount was deducted from your account by PayPal, and that you need them to tell you the EXACT amount.
- Now go to back to your account and click on the verify link, insert the exact amount PayPal deducted from your account. If right, your account will be verified and the amount will be returned back to your account.
Happy? You can now buy anything in any part of the world with your PayPal account. If you have any problem with any steps, please comment below.