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Posted by
Felix Okoli on Monday June 23, 2014 at 9:19:27:
On June 17, 2014, Paypal Nigeria launched and many Nigerians rushed to get registered with even some getting there too early before the doors were opened.
Some Nigerians had complained about their inability to add their cards(for account verification) but after a while, others have confirmed that Paypal is actually accepting Nigerian issued Mastercard and Visa cards.
I initially tried out my Naira Visa on Paypal almost about the same time I was doing my registration but it was not accepted then and later I just tried adding my UBA issued Mastercard and it was immediately accepted.
About 24 hrs after I had added my UBA Mastercard to Paypal Nigeria, I got an sms alert that my UBA savings account had been debited for the sum of N327.05 and the beneficiary was Paypal with some details in the transaction showing something like PP****CODE.
I used the numbers within the Paypal code sent to my phone to verify my Paypal Nigeria account after logging in and clicking on the "Confirm my debit or credit card" link. My account was verified.
The next thing I wanted to try out with my new Paypal account was to send money. As at the time of writing this post, Paypal Nigeria doesn't allow us to receive money yet but just for sending. So, I decided to try sending a Paypal payment to a US Paypal account even without having money in my Paypal account and it worked when I tried it.
For now, Nigerians can't add money to their Paypal accounts since Paypal has not linked directly to Nigerian banks but they are already working with the card companies who are already allowing Nigerians to make global payments. It seems Paypal is basically offering Nigerians a safer way to shop and make payments online without having to disclose their credit cards to all merchants across the world.
I tried sending just $10 to the US Paypal account and it immediately went although my bank account was debited 24 hrs after. The statement in my Paypal account showed that the payment has been sent immediately and the exchange rate which was used was about 167 to a dollar since the total value I was charged was N1677.21 for the $10 sent.
With Paypal, senders don't get charged an extra fee for sending money but the receivers get a small fee which is a combination of a flat fee and a variable rate.
With only an option of sending money rather than receiving it, many Nigerians may be a bit confused as to what the benefits of Paypal Nigeria will be other than taking out money out of the country.
I think one benefit of Paypal is that it offers a better security to one's credit/debit card details so that it doesn't get exposed to all merchants that we pay. So, if you are a Nigerian who makes payments abroad, it's time you stop disclosing your card details to all those merchants and migrate to Paypal. It is safer.
Comments:
Comments:
Re: My First Paypal Nigeria payment experience with UBA Mastercard
Posted by evans
on Tuesday August 5, 2014 at 18:47:58:
pls i hav a verified and confirmed paypal account but i can't send money. Pls how do i do it? Or how did u send urs. Step by step if possible
Re: My First Paypal Nigeria payment experience with UBA Mastercard
Posted by Felix Okoli
on Tuesday August 5, 2014 at 18:47:58:
There are several reasons why a Paypal Nigerian account can't send money and this would include some of the following:
- Expired Debit/credit card
- No funds in your bank account
- Card disabeld by bank
- No funds in Paypal account.
Are you sure you are using a Paypal Nigeria account? If yes, then ensure that you card has been linked to it and it has been charged the first time. Subsequently, you will be able to send payments online.
Re: My First Paypal Nigeria payment experience with UBA Mastercard
Posted by Felix Okoli
on Tuesday August 5, 2014 at 18:47:58:
There are several reasons why a Paypal Nigerian account can't send money and this would include some of the following:
- Expired Debit/credit card
- No funds in your bank account
- Card disabeld by bank
- No funds in Paypal account.
Are you sure you are using a Paypal Nigeria account? If yes, then ensure that you card has been linked to it and it has been charged the first time. Subsequently, you will be able to send payments online.