Paypal in SA with FNB and we get Uncapped ADSL at last!
FNB and MWeb have gone ahead and pioneered the way this week to open wide the online world for South Africans to surf and send money across the Internet safe and secure.
FNB customers can now send money and sell products online, using their local South African FNB bank account and Paypal. MWeb on the other hand started offering an overseas standard UNCAPPED ADSL service that started a price war amongst Internet Service Providers nationwide. Naturally, we’re still waiting for Telkom to play catch up.
So What Is Paypal? (Just incase you don’t know)
Paypal is the world’s largest payment gateway engine for eCommerce globally. It has a massive active customer base of 81 million around the world. Consumers can top up and purchase online and merchants can receive money via their Paypal account and then withdraw funds into their bank account associated with the Paypal account. Check out FNB for more information!
Did you know you can Raise and Request money through Paypal on Facebook? You just simply need to add the application on your Facebook profile.
Another great thing is that visitors coming out for the 2010 FIFA World Cup will have an opportunity to use the Paypal service with local businesses to pay for things here in South Africa.
Now… it’s about jolly time… UNCAPPED ADSL is here to stay! MWeb began a pricing war to FREE THE WEB starting at R219 a month. Well all I can say is Hallelujah!
Rumour has it that this week it was leaked out onto the streets (namely the social network called Twitter) that FNB (First National Bank) South Africa are looking to license the online payment giant in South Africa. For some years now, Paypal has been sitting off the shores of the country that is longing to have the international option to make and receive payments online.
Many of my friends online as well as online marketers and businesses have been waiting intensely to have Paypal open up its online banking for all to use locally. A good friend of mine keeps telling me that he would like to expand his service offering beyond South African shores and would like to offer and use the Paypal payment gateway on his websites.
Unfortunately, Paypal has kept putting off venturing to local shores because of possible elevation of online fraud amongst other things. Well I, like so many others, cannot wait for FNB to seal the deal with Paypal and introduce the this giant online payment gateway to the country.
Paypal coming to South Africa will encourage more and more businesses to feel comfortable to enter the online market because of their clean reputation in the online space. Markets in South Africa could face a major uplift should Paypal grace us with their facilities online.
The best part is that the FNB and the South African Reserve Bank are in talks to bring Paypal in to the country by April this year, ahead of the 2010 Soccer World Cup! Think of the business that could be generated with overseas folks simply using their Paypal accounts to pay for things locally online; accomodation, travel, entertainment, etc.
I will be very excited to hear the news in the coming weeks if Paypal open for business in South Africa.
Click here to open a Paypal account outside of South Africa
