PayPal has signed a contract with international payment service provider PayGate that will allow merchants in South Africa to accept online payment via the PayPal service.
PayGate customers can add PayPal to the list of payment options they accept without opening another bank account or adding any further web development. The new partnership may offer South African merchants more opportunities when it comes to global sales.
PayGate believe that overseas buyers will be more comfortable buying goods from South African merchants now that PayPal is in the mix to handle the overseas payment. In fact, according to research conducted by NorthStar in late 2013 37 per cent of European buyers said they would not have made cross-border purchases if PayPal had not been offered as a payment method.
“PayPal is known and trusted around the world, providing a simple and more secure way to shop and pay online,” says Malvina Goldfeld, head of business development for sub-Saharan Africa at Paypal. “We are also one of the world’s most trusted ways to accept payments, having spent over a decade mastering risk to reduce fraud. With 152 million active accounts in over 200 markets we help businesses of all sizes unlock economic opportunity by reaching new global sales opportunities, and this is what we can offer South African merchants.”
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