Unlocking PayPal: A Guide to Receiving Money in Africa.
PayPal's availability in Africa is limited and varies by country.
Currently, PayPal is only available in some African countries, including Nigeria, Kenya, South Africa, Egypt, and Morocco, among others.It is important to note that even in countries where PayPal is available, there may be restrictions on certain types of transactions or limitations on how much money can be sent or received.
Additionally, PayPal's fees may vary depending on the country, and there may be additional fees for currency conversions or cross-border transactions.
In recent years, PayPal has been working to expand its presence in Africa and has formed partnerships with local companies to help make its services more widely available.
For instance, PayPal has collaborated with Flutterwave, a Nigerian fintech company, to enable PayPal payments for African businesses and merchants.
This partnership enables PayPal payments to be made to merchants in Nigeria, South Africa, and Kenya.
Here are some details on how the Flutterwave and PayPal collaboration works.
Integration: The integration allows African merchants to add PayPal as a payment option on their website or mobile app.
This integration also allows for PayPal payments to be processed directly through Flutterwave's payment gateway.
PayPal Fees: The PayPal fees for payments processed through Flutterwave are the standard PayPal fees, which are 3.5% + $0.30 per transaction for international payments. This fee is charged to the merchant for receiving payments.
Flutterwave Fees: Flutterwave charges a transaction fee on top of the PayPal fees for payments processed through its platform.
PayPal Fees: The PayPal fees for payments processed through Flutterwave are the standard PayPal fees, which are 3.5% + $0.30 per transaction for international payments. This fee is charged to the merchant for receiving payments.
Flutterwave Fees: Flutterwave charges a transaction fee on top of the PayPal fees for payments processed through its platform.
The transaction fee varies depending on the country where the transaction is made, but it ranges from 1.4% to 3.8%.
Withdrawal of Funds: Merchants can withdraw funds received through PayPal on the Flutterwave platform directly to their local bank account or to their Flutterwave account.
Withdrawal of Funds: Merchants can withdraw funds received through PayPal on the Flutterwave platform directly to their local bank account or to their Flutterwave account.
If a merchant chooses to withdraw to their local bank account, a fee of 1.4% + $0.15 is charged per withdrawal.
Payment Currencies: The collaboration between Flutterwave and PayPal allows for payments to be made in multiple currencies, including USD, EUR, and GBP.
Payment Currencies: The collaboration between Flutterwave and PayPal allows for payments to be made in multiple currencies, including USD, EUR, and GBP.
However, if the payment is made in a currency other than the merchant's local currency, there may be additional currency conversion fees.
Refunds: Refunds for PayPal transactions made through Flutterwave will be made in the original currency and will be subject to the exchange rate at the time of the refund.
PayPal fees for refunds will also apply.
The collaboration between Flutterwave and PayPal enables African merchants to accept payments from customers worldwide using PayPal.
Merchants are charged standard PayPal fees plus a transaction fee by Flutterwave, and can withdraw funds to their local bank account or Flutterwave account.
Payments can be made in multiple currencies, but there may be additional currency conversion fees.
