Pay Pal South Africa launches

Published by Charl Norman on Mar 25th, 2010, 12 Comments

It’s been a big week for the South African internet economy. First MWEB started a broadband price war with their uncapped ADSL offering and now Pay Pal and FNB have announced that they’ve entered into an agreement to bring Pay Pal to South Africa. This enables South Africans to sell to PayPal’s global customer base of more than 81 million active accounts in 190 markets around the world and move the proceeds to their FNB accounts. (South Africa is the 190th country to get paypal accounts!)

This drastically lowers the barrier to entry for entrepreneurs to setup online stores and instantly start selling online. Bad news for online merchant providers like MyGate, VCS and even MWEB’s Safeshop.

Michael Jordaan, FNB’s Chief Executive Officer had this to say -

“We are especially pleased to make this announcement on the eve of the 2010 FIFA World Cup, as South Africans will be able to join the global eCommerce marketplace. Our agreement with PayPal also enables international businesses and individuals to transact with South African service providers via a secure and convenient payment gateway”

Pay Pal concluded -

“FNB and PayPal have a similar focus on innovation, so it makes sense that we would work with FNB to make online payments even easier for merchants and consumers in South Africa,” said Oded Zehavi, head of PayPal’s business in Israel and South Africa.

FNB Customers can simply open a PayPal account and link it to a qualified FNB account and receive PayPal payments in 21 different currencies. FNB will convert the currency to South African Rand, when the money is transferred into their accounts.

Twitter is buzzing with the news.

http://foxinni.com Foxinni

Great news for SA… moving one step closer to the global village. Live updates here: http://foxinni.com/paypalsa/
http://willndre.co.za Willem

I just searched to see when Pay Pal will finally launch in South Africa and I’m very pleased to hear about this. I am already banking with FNB so I will open my PayPal account some time soon.

Also great news about the Uncapped Internet. Great opportunities for the small business owners….
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Luckson Kamphulusa

please help me .i need to open an account with paypal,an what of great help it is to me
erica

Fee. Is the 1.5% in addition to the normal paypal cost of 3.9% + $0.30 USD for transactions outside USA.
Fritz Rossouw

Was so glad to hear that pay pal finally will be available to us in ZA . Trying for over a year to become an e bay seller. Now that I have done everything ! I have been trying for the past almost 4 weeks to get my FNB acc linked to my pay pal acc ! Sad story no luck yet and nobody seems to know how it should be done ?? Can anyone tell me please ????
Sithembewena Lloyd Dube

Well, it was about time. I believe S.A. users could always send money (through Standard Bank, for example) but could not receive.

This is a commendable step towards unlocking more global opportunities for local internet users and businesses alike.
http://mygamerdiary.blogspot.com My Gamer Diary

Excellent news. Now I just need a FNB account :/ which I could link it to my Standard Bank account.
http://www.overtone.co.za Overtone Web Dev

For those of you who are struggling to integrate your paypal checkout with your South African Rand online shops..

Overtone have developed a system that enables you to sell your products in ZAR while users that select PayPal as the final payment option have their total order converted into USD at the last minute.

Its a really simple solution for those of you who want to have an online shop with multiple payment options including Paypal.

We build online sales environments and can help you get yours up and running.

http://dev.overtone.co.za
Sumaladasplash

So much for paypal. I do not have a credit card only a standard bank debit card. Not seeing the point getting xtra cards and paying monthly card fee’s which mostly total ripp off.Why not making paypal for debit cards maestro…
Janine Jwest

Paypal is great if you live in the Us but for every one else there is a much better payment processor Sign up here https://www.alertpay.com/?TmMNs%2bOzGeEsqGS4O%2b%2fveg%3d%3d

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