PayPal is one of the world’s largest financial service providers for online payment. It is a globally accepted means to send and receive funds, pay bills, and shop online from various e-commerce stores. In this article, we will cover everything you need to know about PayPal in Nigeria, plus 15 PayPal alternatives for Nigerian entrepreneurs.
To open a PayPal account in Nigeria, you must be at least 18 years old and have a valid email address and bank account. Once you have created an account, you can link your bank account or debit card to your PayPal account to make transactions.
It’s also worth noting that PayPal has a buyer protection policy that covers eligible purchases if they don’t show up or match their description.
How to Open a Nigerian PayPal Account
To open a Nigerian PayPal account, follow these steps:
- Decide on the account type you want to open – a personal or business account.
- Visit PayPal’s website to create your desired account. For personal, you can go to the personal creation page while for business, go to the business creation page.
- Fill in the account opening form, then confirm your email address.
- At this point, your account is active! You can start sending money with your account or make any online transaction.
Can You Receive Money with PayPal in Nigeria?
Yes, you can receive funds online in Nigeria with a PayPal business account. However, individuals are not allowed to receive funds with their personal account. To receive funds with your business account, follow these guidelines:
- Set up your payment on your website. Read and follow the instructions in your account on how to set this up on your website to enable you to receive payments from clients.
- You can send an invoice with your business account to your clients or request funds from your customers.
- Also, you can use your PayPal email to receive money from
15 Best Alternatives To PayPal For Nigerian Entrepreneurs in 2023
Below are some reliable PayPal alternatives that will help you send/receive money in Nigeria:
- Payoneer: Payoneer is a global financial services company that provides online money transfer and payment solutions.
- Paystack: Paystack is a Nigerian fintech company that provides payment solutions for businesses and individuals.
- Skrill: Skrill is a UK-based digital wallet provider that allows users to send and receive money worldwide.
- Flutterwave: Flutterwave is a Nigerian fintech company that provides payment solutions for businesses and individuals.
- Stripe: Stripe is a US-based payment processing company that allows businesses to accept payments online.
- Interswitch WebPay: Interswitch WebPay is a Nigerian payment gateway that allows businesses to accept payments online.
- Remitly: Remitly is a US-based digital money transfer service that allows users to send and receive money worldwide.
- BOSS Revolution: BOSS Revolution is a US-based digital wallet provider that allows users to send and receive money worldwide.
- Google Wallet: Google Wallet is a US-based digital wallet provider that allows users to send and receive money worldwide.
- TransferWise: TransferWise is a UK-based money transfer service that allows users to send and receive money worldwide.
- Venmo: Venmo is a US-based digital wallet provider that allows users to send and receive money worldwide.
- Cash App: Cash App is a US-based digital wallet provider that allows users to send and receive money worldwide.
- Zelle: Zelle is a US-based digital wallet provider that allows users to send and receive money worldwide.
- Neteller: Neteller is a UK-based digital wallet provider that allows users to send and receive money worldwide.
- Bitcoin: Bitcoin is a decentralized digital currency that allows users to send and receive money worldwide.
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