Destructive innovation is the most feared competitive advantage in any industry and its introduction will always breed a new culture in any environment. Paypal is not new but it’s definitely new in the Nigerian blogosphere (at least in the legal sense). How will PayPal change the Internet culture and how will its economic benefit spiral to the career of an average Nigerian? This article will focus on 5-key benefits of PayPal to career Nigeria:
- Web Payment Gateway:
Although one cannot accept money through PayPal in Nigeria for now but the prospect of it’s free installation will displace the huge initial payment of getting a web payment gateway from Interswitch and its cohorts like Etranzact, GTpay, etc.
Apart from the huge payment that these Nigerian gateways charge, the UAT testing on your website can take months to implement. It took me 2months to implement Interswitch webpay codes on www.pmtutor.org compared to PayPal that will take nothing less than 2 minutes.
PayPal will settle all funds received in 48hrs compared to the industry leader like Interswitch which promises 72hrs but experience has taught me to give them 1-month window before I start disturbing them for settlement and most times it will take copying their bosses in the email for the settlement to be done.
- Cloud Storage:
I hate traveling with cash after losing a huge amount of money to fraudsters at the Guangzhou Baiyun local airport on my way to Chongqing. If I had money in my PayPal, I would not need to travel with such large amount of money since all my partners in China collect PayPal.
- Money Transfer:
I recently bought a phone online for about 300 dollars + 50 dollars DHL fee and paid a transfer fee of 70 dollars (N11, 760) because the site does not collect Nigerian Debit cards. The transfer fee is not the only money collected: VAT of 10%, Domiciliary Account charge of 1%, offshore bank charges of 35 dollars. Imagine all these charges for a 350 dollars transaction. With PayPal, the total fees will be relatively minute compared to the banks.
- Internet Procurement:
Like I said in the previous mail, there are still some site that will not collect Nigerian debit cards but they will surely collect PayPal. Now you can be sure that shopping online will go smoothly.
- Secured Payment:
You can easily send money to your loved ones or partners’ abroad and boycott the bank charges. Since Western Union and MoneyGram do not allow international payments from Nigeria, Nigerians resort to using unsecured channels to send money to avoid bank charges. With PayPal, the possibility becomes huge….
If you want to open a PayPal account, use this PayPal Verified PDF here
