Nigeria's oldest commercial Bank,First Bank Limited and global payments provider, PayPal, have announced a partnership to encourage Nigerians shop online across the world.
PayPal is global payments provider with 148 million active accounts in 203 markets.
The partnership with FirstBank will allow customers of the bank to register for a PayPal account from their FirstOnline, Internet-banking account. “By linking FirstBank-issued debit, prepaid or credit cards to their new PayPal account, FirstBank customers can shop and pay on millions of websites around the world from their PCs, tablets or smartphones, without having to share their financial information with the seller”, explained Chuma Ezirim, Head of E-Buisness, FirstBank.“Through this partnership, FirstBank customers gain a unique advantage as their PayPal account will receive automatic verification and increased transaction limits, making it even easier to start making online or mobile payments”, he added.
PayPal’s regional director of Sub-Saharan Africa and Israel said the partnership with FirstBank is similar to the ones PayPal has with First National Bank (FNB) in South Africa and Equity Bank in Kenya.“This is how we work in Africa and we will continue to work that way,” he said.
“PayPal and FirstBank have a similar focus on innovation and I am very confident as we officially commence this partnership.PayPal is here for the long-term, we are here to stay. We are here to build the e-commerce market in Nigeria,” he added.
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