The recent partnership between PayPal and PayGate means that merchants can accept online payments in South Africa from local and international shoppers.
With the announcement of a partnership between PayPal and local payment service provider PayGate, merchants can now accept online payments in South Africa, from South Africans or international shoppers.
PayGate customers can now add PayPal to the list of payment methods they accept simply by ticking a checkbox,” says PayGate’s GM of business development Brendon Williamson. “They don’t need to open any kind of new bank account or do any additional web development.
“PayPal is known and trusted around the world, providing a simple and more secure way to shop and pay online,” says Malvina Goldfeld, head of business development for sub-Saharan Africa at Paypal. “We are also one of the world’s most trusted ways to accept payments, having spent over a decade mastering risk to reduce fraud. With 152 million active accounts in over 200 markets we help businesses of all sizes unlock economic opportunity by reaching new global sales opportunities, and this is what we can offer South African merchants.
Goldfeld adds that, “according to research conducted by NorthStar in late 2013, “37% of European buyers said they would not have made cross-border purchases if PayPal had not been offered as a payment method.” What that means to South African merchants is that adding PayPal can actually go as far as helping to boost their overseas sales.
PayGate’s Williamson says PayPal is a standout favourite for overseas customers wanting to buy goods from South African merchants. “Rightly or wrongly, someone from the US or Europe may not feel comfortable giving their credit card details to a site based in South Africa. But with PayPal, that psychological barrier is removed.
* Follow Gadget on Twitter on @GadgetZA