PayPal Holding, Inc. ranked the most populous
black nation and the largest African economy
Nigeria as the 3rd highest mobile shopper
worldwide.
black nation and the largest African economy
Nigeria as the 3rd highest mobile shopper
worldwide.
The online payment giant is the most popular
medium among Nigerian cross-border shoppers,
and estimated 55 percent of all oversea online
purchases in the past 12 months were done via
PayPal.
Nigerian mobile shoppers reportedly spent N128.1
billion ($610 million) in 2015 using PayPal, and on
target for N172 billion ($819 million) this year.
The General Manager of PayPal Africa and Israel, Efi
Dahan, said Nigerian online shoppers have realized
the world is their shopping mall and as such shop
wherever and whenever using their mobile devices.
It should be recalled that Facebook Inc. in February
also affirmed Nigeria as its biggest market in
Africa, with 97 percent of its 16 million Nigerian
users accessing the platform through their mobile
devices.
“Nigerians are generally sophisticated mobile users
and this sophistication is aiding small businesses,”
said Nunu Ntshingila, head of Africa for Facebook.
While China still remains the global leader of
mobile shopping nations, with 86 percent of all its
online shoppers using smartphone. Nigeria’s 72
percent is third after India's 82 percent.
Since PayPal commenced business in Nigeria,
Nigerians are no longer limited to what they can
purchase locally, but they now search the globe for
better deals.
The current mobile trend is predicted to continue to
pave the way for entrepreneurs and boost their
global business reach.
PayPal (PYPL) shares rose 3 percent on Wednesday
amid takeover speculation.
