PayPal to partner with African mobile money companies

PayPalThe initiative aims to serve Africa’s unbanked population. (Image source: lau rey/Flickr)The US-based e-commerce giant PayPal has announced plans to collaborate with African mobile money companies to provide services to the region’s unbanked population

In an interview with the South African news agency, Business Day, Efi Dahan, general manager of PayPal for the Middle East and Africa, said that the company is looking forward to increasing its footprints in the continent by partnering with regional mobile money companies.

In addition to this, PayPal provides online and mobile services in 50 African markets and plans to deliver remittances into Nigeria and South Africa via its Xoom brand, according to the source.

With the new collaborations with local mobile money companies, PayPal aims to play a bigger role in providing services to unbanked populations across the continent as well as expanding its presence in the region.

Apart from this, PayPal has also launched a number of initiatives with an aim to drive online retail market across Africa, said the source.

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