Well, some complaint about this rule. They like to accumulate their money in PayPal wallet for some reasons. But they can't. I find it very convenient for myself. I don't have to keep a track or send a withdrawal request. The money is automatically transferred to my bank account without any hassle.
What is the real reason paypal is not working in Nigeria?
- Thread starter Niyi Briggs
- Start date
The government of Nigeria has restricted the use of PayPal in Nigeria and that is why it is not functioning.
This sounds weird so how does one send out money then when they can't receive dollars into the account. Those with this policy can make this really make sense because I'm not understanding
Mainly it is because of the governements policy to allow such boarderless transactions that can be cost effective but will still be disadvantging the already existing financial platforms that went to seal the MOUs way back before the swift platforms ever came into existence.They block governments to embrace new technologies and also alot of government officials have shares and interests in such traditional financial platforms like mobile money,moneygram,western union and so on.
So mainly it is as a result of no political will from governments in Nigeria and africa to help in making this world a global village as far as financial and payment platforms is concerned which is hindering on financial inclusion.
So mainly it is as a result of no political will from governments in Nigeria and africa to help in making this world a global village as far as financial and payment platforms is concerned which is hindering on financial inclusion.
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Oh! Reading the above replies indicates it clearly that these banning and restrictions are mainly from the government of the country. I assumed that the ban is from the side of PayPal. But countries that don't accept PayPal accept the other similar kind of platforms. The fact remains with other platforms too that they can be misused for illegal activities. So, why only discriminate PayPal which is the most accepted one globally.
This is popularly due to yahoo or scamming (cyber crime). Nigeria and India are among the most countries with high rate of Cyber crime
PayPal is not banned in India. I don't know of any similar kind of payment platforms that are banned in India. Nothing is banned for Indian users. The rules are a regulated by government and we can't use PayPal as a wallet to accumulate money
- Thread starter
- #31
This ban orchestrated by a small section of the population has affected a whole part of hardworking young people of Nigeria.
Yes, that's right, I've heard this excuse. It makes sense that a country with a high crime rate would be blacklisted. But some time ago, my country (Indonesia) also blocked Paypal, but I don't know the reason behind it. I am grateful now to be allowed to use Paypal again.
I still think that governments and the early fintech services have dominance and sanction governments not to allow companies that will come to overtake the existing fintech companies. This means that people will be compelled to use the existing fintech companies not until more pressure is mounted on governments to provide that solution. That is the case of PayPal in most African countries. It has everything to do with our governments and not PayPal.
I am not sure as what's the exact reason for ban of PayPal in a country. People come up with various reasons like high rate of cyber crime etc. But then it's not universal. Sometimes, PayPal has been working fine in few countries and then it stopped. In some cases, it started working again. I guess the onus is not only on PayPal. The government of the country plays an equally important role.
- Thread starter
- #37
It is purely the decision of paypal to restrict operations from that country based on reasons best know to them. It could be due to fraud or other reasons. Cryptocurrency is not working in some countries also.
They may have linked some nefarious activities to PayPal platform in Nigeria and that may be the reason.
Oh! I see. Thank you for clarifying it..I was under the impression that even government has a role to play.
I remember few Bangladeshi and Pakistani mylotters who were very active on myLot. But then they had to leave the site as PayPal banned those two countries. And Mylot only pays through PayPal.
You got it all wrong because it was the Nigerian government that restricted Paypal from operating in the country.