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Rumour or Fact: Will FNB bring us PayPal in April?
Financial Mail has published an article that PayPal will be made available to South Africans by April to receive money. However these rumours are unconfirmed as FNB does not want to comment. The news had originally spread since yesterday on Twitter, and some Twitterer's even claim that they knew about it as far back as December. If this is true then this will be good news, as one of the biggest limitations to doing business on the Internet for South Africans are the lack of PayPal support in this country.
Although South Africans can have a PayPal account and make payments, they cannot receive money into their accounts, and withdraw that money to their bank accounts. There are speculations as to the reasons why PayPal do not offer this capability to South Africans. Some of these speculations are that the Reserve Bank makes it difficult for PayPal to offer this service to us, or that fraud is too high in South Africa, and even that our Exchange Controls are not PayPal friendly. Whatever the speculations, other payment methods such as 2Checkout and Moneybookers allows us to transact on the Internet.
Whatever the excuses, currently this PayPal issue is causing South African Entrepreneurs to face the following major problems on the Internet:
1) Many Affiliate programs on the Internet only supported payments in PayPal
2) Many customers on the Internet is used to PayPal, and do not trust websites who do not offer PayPal as a method of Payment
3) South Africans had to use Clickbank or 2Checkout to get payments via PayPal, but this still excluded them from the first opportunity.
4) Setting up accounts with Clickbank and 2Checkout is more costly than having a PayPal account.
By being able to receive PayPal payments in your PayPal account, which is like a Virtual Wallet, will enable you to charge for services and get payment for those services delivered. You will be able to do work for people outside of South Africa who are currently accustomed to PayPal.
PayPal is the worlds most used payment method, and this fact cannot be ignored.
To read more about the Information leak, you can visit the Financial Mail website at:
However whether the availability of PayPal in South Africa will be soon,
is yet to be learned, and whether this is just a rumor will also be
interesting to know.
In the meantime, your comments will be appreciated, and if you want to
be kept up to date, please enter your details on the top right hand corner.
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and interesting point in the article was that paypal was developed by a south african born person. ironic, no?
I recently joined Moneybookers, never used them for anything (accept for transferring a few rand into my account to see if everything works) and were then told that my account is cancelled because I violated some terms and conditions. I wrote various emails inquiring what I exactly did wrong, but they would not even answer me. I also phoned Moneybookers and were told to send my questions via email to the security department, which is exactly what I did, and are still waiting for them to answer me.
I have since joined 2Checkout and will use them in the meantime but it is not the same, because you cannot send money as easily as with PayPal.
Apparently most countries outside the USA are not allowed to receive money via PayPal.
Lets hope this rumor about FNB do come true and not just stay a rumor for the next few years.
Ek wil nog die heeltyd vir jou vra--Met jou optrede hier in Mosselbaai het jy gereeld gepraat oor die 'surplus' opbou,ek se vir jou almal glo ek wou vra,as jy nou n surplus het,wat nou,wat maak jy daarmee om jou finansies te sterk?
Met eiendom kan ek nie veel doen nie,ek is al klaar met pensioen en sal nie n verband kry nie.
Ek wil graag op die internet iets doen en het al baie dvd's gekoop maar dit was te ingewikkeld. Het jy asb raad, Eddie.
Thank you for the information - if it happens it will be great.
Do you know if AlertPay pay out to South Africa.
Kind regards
Riaan
So Please do not contact me again.
Nelis
Gaan doen ons gratis kursus by www.build-a-web.com en laat weet my wat jy daarvan dink.
Leer dan hoe om 'n wealth creator te word. Ons het in een dag meer as R700 000 gemaak deur net die Build A Web kennis met die van 'n wealth creator to kombineer
The ONLY reason why you received my e-mail was because YOU subscribed to my Wealth Insight Newsletter
I have no idea what you are talking about Nelis - I have never made any press releases regarding bursaries etc - but you are welcome to unsubscribe yourself from receiving my newsletters - you will find the unsubscribe button at the bottom of each e-mail
Have you tried to verify your account at MoneyBookers?
What press release? Are we on the same blog?
Net om dinge meer interessant te maak, ek het 'n PayPal rekening vir meer as twee jaar nou en het toe natuurlik dieselfde ding van hulle af gekry. So teen einde laas jaar het ek 'n uitnodiging van hulle af gekry om my rekening op te gradeer na 'n Premier rekening wat ek toe gedoen het. Dit laat my basies toe om geld te ontvang. Ek het so 'n week terug 'n promosie gedoen wat deur Paypal betaal maar het nog nie iets verkoop nie so dis nog ongetoets. Ek het nou net gekyk na my Paypal rekening en dit is inderdaad 'n Premier rekening.
Miskien blaas die hele ding op as daar 'n inbetaling is of as ek die geld probeer onttrek!
Groete, Hentie
The buggers had the absolute nerve that allowed us to pay others via them, but not receive money into our accounts. This is what I call blatant robbery of the worst kind. Where were their "commercial conscience" all the time?
If FNB had anything to do with the reversal of the Paypal policy towards receiving money in South Africa, then they need a commendation from all aspirant and present online marketers.
Viva!!!
This is interesting! Can you perhaps add a bank account to do withdrawals to in your PayPal account?
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