PAYPAL TO MAKE ITS DEBUT IN NIGERIA! WHAT IT REALLY MEANS FOR LOCAL RETAILERS AND NIGERIANS!
Paypal to make its debut in Nigeria! What will it mean for the retailers ? Will it make taking over the Nigerian market a lot easier? We say it will. Here is the fact:
According to
Reuters report, PayPal is set to make an entry into Belarus, Macedonia, Moldova, Montenegro, Monaco, Cameroon, Ivory Coast, Zimbabwe, Paraguay and Nigeria. Nigeria holds the biggest potential market for PayPal considering that the West African country has an estimated 60 million Internet users according to statistics from Euromonitor. This new expansion will bring the total number of countries under PayPal’s coverage to 203.
Aside from holding a large number of internet users, Nigeria also has the enviable position of one of the most engaged internet users whose economy is currently thriving. That simply means they will be more money to spend. Retailers such as Amazon will more than likely see a boon in orders because Nigerians love products from the USA. Local websites who rely on advertising will also see a way to gain income from foreign advertisers who at one time probably did not have a way to recieve non local advertising dollars!
The only draw back will be to local retailers who inflated prices on their website. Some might opt to order directly from the USA than pay for infated prices from a local website. Well only time will tell. Right now it is important to celebrate a potiential change to the status quo. It is time to realize the world is indeed a small village? What do you say?
Isy Coker is founder and editor at large of Naijagal.com
According to
Reuters report, PayPal is set to make an entry into Belarus, Macedonia, Moldova, Montenegro, Monaco, Cameroon, Ivory Coast, Zimbabwe, Paraguay and Nigeria. Nigeria holds the biggest potential market for PayPal considering that the West African country has an estimated 60 million Internet users according to statistics from Euromonitor. This new expansion will bring the total number of countries under PayPal’s coverage to 203.
Aside from holding a large number of internet users, Nigeria also has the enviable position of one of the most engaged internet users whose economy is currently thriving. That simply means they will be more money to spend. Retailers such as Amazon will more than likely see a boon in orders because Nigerians love products from the USA. Local websites who rely on advertising will also see a way to gain income from foreign advertisers who at one time probably did not have a way to recieve non local advertising dollars!
The only draw back will be to local retailers who inflated prices on their website. Some might opt to order directly from the USA than pay for infated prices from a local website. Well only time will tell. Right now it is important to celebrate a potiential change to the status quo. It is time to realize the world is indeed a small village? What do you say?
Isy Coker is founder and editor at large of Naijagal.com
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