Has PayPal Gained the Trust of Nigerians?
In June 2014, PayPal, one of the world’s largest internet payment companies, opened its online payment platform to Nigerians after sealing a partnership deal with First Bank, Nigeria’s oldest and second largest bank. The deal confirmed Nigeria’s emergence as a major ICT player in Africa and consolidated its position of as one of the leading destinations for internet-driven investments, particularly within the e-commerce space.
However, since PayPal’s debut last year, the realities have been “very interesting”, says Efi Dahan, PayPal’s Regional Director for Africa and Israel. In an interview with Ventures Africa, Efi reveals that while PayPal has attracted millions of Nigerians to its platform, trust remains its greatest hurdle. He goes on to explain how PayPal is navigating through its current challenges and how he expects e-commerce to progress in the coming years.