With more than 150 million active accounts worldwide, PayPal is the most popular payment processing service. It is also among the simplest methods for sending or receiving money, which is why how to open a PayPal business account in Nigeria is one of the most frequently asked questions by merchants.
You need a Paypal account if you run your own business or work as a freelancer. How does one open a business paypal in Nigeria? That is why you are here. We’ll go over each step of how to create a PayPal business account in Nigeria and use it efficiently. If you want to operate profitable online enterprises in Nigeria, this is crucial. You can create a Paypal account in Nigeria from the comfort of your home.
Requirements For How to Open A Paypal Business Account In Nigeria
First, you have to be a resident of Nigeria with a functioning email address.
You will need a Naira account for your PayPal transactions. Even though it’s not required, you can also pay with a major credit card, your Google Wallet balance, a debit card, a bank transfer, or a gift card.
How To Open a PayPal Business Account In Nigeria Step-By-Step Guidelines
- The first step for how to open a PayPal business account in Nigeria is to go to PayPal.com and select Sign Up.
- Click Next after selecting “business account.”
- Type your email address and press the Next button.
- Next, create a login ID and password and input the contact details for your company.
- Ensure that you have read the user agreement, privacy policy, and policy on the transmission of electronic communications. Click Agree and Continue after that.
- Tell PayPal more about your company: If you’re a sole proprietor, provide your social security number; otherwise, enter your employer ID number.
- Next, if you have a website, type in the address there and click Continue.
- To confirm your identification, PayPal will need to know a few more details about you.
- After you’ve completed that, you’ll get an email asking you to confirm your information.
- Your account is now available for use.
How to receive PayPal Money in Nigeria
In terms of using PayPal, here is where Nigerians have a major problem. Receiving PayPal payments to personal accounts is not currently permitted in Nigeria.
Only on merchant websites can personal accounts use PayPal to send payments or make purchases of goods and services. You may wonder what use knowing how to open a PayPal business account in Nigeria is if you can’t receive funds. Let me explain.
Can Money be Sent to a Nigerian PayPal Business Account?
No, a PayPal Business account cannot accept transfers from PayPal. As a merchant, you can only accept payments through your PayPal business account on your website that offers eCommerce or services. If you’re a merchant in Nigeria who needs to accept PayPal payments, all is not lost, though. To open a PayPal business account and start accepting credit card payments, go to the page for account creation. As a merchant, you can only use PayPal business accounts to sell your products; you can’t use them to receive transferred funds in Nigeria.
How Can I Receive Money Through PayPal in Nigeria?
There is no reason to know how to open a PayPal business account in Nigeria if you can’t receive your funds. As I said before, only merchants can use the PayPal business account in Nigeria to receive money.
Merchants are business owners who provide goods or services to customers. Some of these merchants operate a simple corporate website or an e-commerce website where they provide their goods or services to customers who are not just Nigerians but come from all over the world.
Basically, you must have a website if you wish to accept payments through your PayPal business account.
Nigerian PayPal accounts only accept payments made through the PayPal payment gateway built into a website in order to purchase goods or services. They are unable to receive transferred monies. Even if you work as a freelancer, you still need to have a website where clients can request your services and make payments with your business PayPal account in Nigeria. Now that you know how to open a PayPal business account in Nigeria, go on and make more money for your business.
