We have reports that online payment company PayPal is opening for business in 10 new additional countries this week, bringing the total number of operational countries to 203.
PayPal has announced that is expanding into the following countries: Belarus, Macedonia, Moldova, Montenegro, Monaco, Cameroon, Ivory Coast, Zimbabwe, Paraguay and Nigeria. The latter has the largest potential marketplace for PayPal with 60 million Internet users, according to measurements by Euromonitor International.
Reports suggests that PayPal will not immediately introduce all its services in the new listed countries but will gradually implement it's plans. PayPal executive Rupert Keeley told Reuters the company will only launch the “send money” feature at first, which allows consumers to make online payments to pre-approved merchant sites. The service will not enable payments to local merchants, but Keeley believes that PayPal can still “give our sellers selling into this market a great deal of reassurance.”
Source: Reuters reports.