PayPal Holding, Inc. ranked the most populous black nation and the largest African economy Nigeria as the 3rd highest mobile shopper worldwide.

The online payment giant is the most popular medium among Nigerian cross-border shoppers, and estimated 55 percent of all oversea online purchases in the past 12 months were done via PayPal.

Nigerian mobile shoppers reportedly spent N128.1 billion ($610 million) in 2015 using PayPal, and on target for N172 billion ($819 million) this year.

The General Manager of PayPal Africa and Israel, Efi Dahan, said Nigerian online shoppers have realized the world is their shopping mall and as such shop wherever and whenever using their mobile devices.

It should be recalled that Facebook Inc. in February also affirmed Nigeria as its biggest market in Africa, with 97 percent of its 16 million Nigerian users accessing the platform through their mobile devices.

“Nigerians are generally sophisticated mobile users and this sophistication is aiding small businesses,” said Nunu Ntshingila, head of Africa for Facebook.

While China still remains the global leader of mobile shopping nations, with 86 percent of all its online shoppers using smartphone. Nigeria’s 72 percent is third after India's 82 percent.

Since PayPal commenced business in Nigeria, Nigerians are no longer limited to what they can purchase locally, but they now search the globe for better deals.

The current mobile trend is predicted to continue to pave the way for entrepreneurs and boost their global business reach.

PayPal (PYPL) shares rose 3 percent on Wednesday amid takeover speculation.

http://investorsking.com/paypal-ranks-nigeria-3rd-in-mobile-shopping/

Ok

Cool

Cc: lalasticlala, dominique, Mynd44

172 billion . Nigerians and foreign goods are like 5 n 6

Paypal just wants to collect. Nigerians want to receive money with their Nigerian paypal shikena.

PayPal can now realize how stupid they were to have locked out Nigeria for close to 13 years.

stagger:
PayPal can now realize how stupid they were to have locked out Nigeria for close to 13 years.

Have they lifted the ban on us not to accept payment into our PayPal account?

jendy36:


Have they lifted the ban on us not to accept payment into our PayPal account?

Not yet, but soon if this trend continues

I hear but have closed my PayPal account till Nigeria is able to receive payment I wouldn't be opening a new one.

Truth234:


Not yet, but soon if this trend continues

till they lift that ban i wont touch paypal with a long pole

Truth234:

Not yet, but soon if this trend continues

Nawa oo...They are just robbing us...spend and don't receive

jendy36:


Nawa oo...They are just robbing us...spend and don't receive

It is for security reasons, we all know our people will abuse it. The only feasible method is if First Bank have an exclusive agreement with PayPal Inc. to allow it's customers withdraw via their First Bank account. Just like in Malaysia.

rozayx5:


till they lift that ban i wont touch paypal with a long pole

lol....It's been long I used mine though

Truth234:


It is for security reasons, we are know our people will abuse it. The only feasible method is if First Bank have an exclusive agreement with PayPal Inc. to allow its user withdraw via their First Bank account. Just like in Malaysia.

I verified mine with my First bank MasterCard. I went to the branch then and they said they had no such agreement with PayPal.

Doing that will mean more customers to First bank na.....And besides, Nigerian IP is blocked for receiving fund... so first bank shouldn't be an exception.

jendy36:


I verified mine with my First bank MasterCard. I went to the branch then and they said they had no such agreement with PayPal.

Doing that will mean more customers to First bank na.....And besides, Nigerian IP is blocked for receiving fund... so first bank shouldn't be an exception.

I know First Bank don't have such agreement, but they can. You don't seems to understand how this works but I am in a system that is using this methodology and at a point had something similar to Nigerian situation before a commercial bank stepped forward, our commercial banks need to spend money on R&.

And dem know want make we collect money abi, its not fair oo

And yet they slam stupid, aged restrictions on us.

The world has moved pass PayPal as the sole online payment processor anyway.

Even in this hardship?

Come on come on
I see no CHANGES. Wake up in the morning and I ask myself,
"Is life worth living? Should I blast myself?"
I'm tired of bein' poor and even worse I'm black.
My stomach hurts, so I'm lookin' for a purse to snatch

Cool

When will they mke it possible for Nigerians to receive payment viaa their platform?

oo

Nigerians keep saying things are hard in this country, that Buhari's regime is the worst and we are facing economic recess and yet we still see people fill their fuel tanks daily, going to banks daily, queueing up daily in ATMs and buying things online everyday. Where exactly is the money coming from

see capital flight and the Nigerian government is not doing jack about it!
huge amounts of money leaving the economy with zero coming in via the platform.
this kind of fiscal recklessness can not happen in an Igbo Country!

They should make it possible for us to receive funds no be rating we go chop

Nigerians are so much in love with shopping

Cheating, A Nigeria Registered Paypal account can send money but cant receive cash.

its Dishearten







Please vote ICHOMMY. Mr NL 2016. ICHOMMY for the crown https://www.nairaland.com/ichommy

stagger:
PayPal can now realize how stupid they were to have locked out Nigeria for close to 13 years.

Sometimes when we hear news, we need to try and analyze it. Obviously, America would be number 1, but Nigeria at number 3? Come on. Just checked. Nigeria is not even on the top 20. How can Nigeria be on the top 5 when most of it's people have zero confidence in the banking sector and still believe in keeping money in their martress.

And them say money no dey dis country abi Ok oo

...

y

Wow!! Amazing despite the fact that dollar keeps rising.. Nigerians are Big Time Spenders#

So they are just realizing that Nigerians are big shoppers. SEBI THEY WERE DOING Sakara. PayPal would have recorded tremendous earnings if they had included Nigeria from the early days of their operations.
Similarly Mark Zuckerberg (founder of Facebook) could have been among top 3 richest men in the world by now if he didn't succumb to the advise of his arrogant and imperial countrymen.
China has a policy that any foreign company wishing to trade in China must either partner with a similar indigenous company in China or establish an operational base in China thereby making Chinese citizens to take greater ratio of the workforce of the establishment among other benefits to the Chinese government. This policy is especially in force in the automotive industry. This explains why most if not all automobile manufacturing companies have production/assembly plants in China. If an automobile manufacturer fails to indigenize the production of their products or a particular brand in China, the resultant effect is that you will not be allowed to sell the products in China but you risk Chinese local manufacturers counterfeiting your revered product and selling it cheaper but with a different and funny sounding brand name. Like the case of BMW X6 clone bearing "Qin Xi" or so and selling for as low as 150,000RMB equivalent of less than 4million naira for brand new. Also the case of a certain Greely brand counterfeiting Rolls Royce&oq and selling it for as low as less than equivalent of 6million yet with all the facilities in genuine rolls Royce.
Zuckerberg refused the Chinese deal at the onset forgetting that China has almost half of the world's active internet users per day. So Chinese government blocked Facebook IP from officially opening in China then went ahead and invested in other local software firms (Bercent and Baidu) to create social media very similar to Facebook by the time Zuckerberg realized his mistake the local firms had not only become very popular and widely acceptable but preferable amongst the Chinese.
I don't know whether the new Chinese president has officially lifted the ban on Facebook in China.

How I wish Nigerian government could be wise enough to adopt such people oriented economic policies.