FNB and PayPal bring global ecommerce to Botswana
Correspondent | Thursday May 26, 2016 14:12
The service will allow, for the first time ever, residents in Botswana to withdraw money directly from their PayPal accounts to their qualifying FNB bank account.
This service gives local businesses the flexibility they need to not only accept PayPal payments, but also settle locally - opening up the opportunity to do business on a global level and have access to PayPal’s 183 million active customer accounts in 203 countries and markets. Commenting on the partnership, PayPal’s General Manager sub-Saharan Africa and Israel, Efi Dahan, said, “We are very excited to introduce this local withdrawal service into the Botswana market. At PayPal, we are passionate about people.
We constantly work to put people first and be a trusted part of the daily financial lives of hundreds of millions of people around the world. Our extended partnership with FNB Botswana is very exciting because it provides an avenue for merchants to gain even greater control, grow their businesses globally and succeed in an increasingly competitive environment.”
To benefit from the service, FNB customers can simply open a PayPal account, and start receiving payments in up to 26 different currencies. Customers can then link it to their qualified FNB bank account and initiate a withdrawal. When withdrawing the funds, FNB will convert the amount from USD to Botswana Pula according to its conversion rate.
“Botswana is one of FNB’s key markets in Southern Africa and this announcement demonstrates our commitment to ensuring that we continually improve our customers’ experience and assist them in growing their businesses by providing access to the wider international community” added Ogone Madisa-Kgwarae, FNB Botswana Business Director.