How To Register For PayPal In Nigeria
PayPal Holdings, Inc. is an American corporation that operates an online payments system in many countries that enables online money transfers.
It serves as a digital alternative for conventional paper payment methods such as money orders and checks.
PayPal is the world’s leading online money transfer platform, with millions of people worldwide using it to send and receive money.
It is a secure and versatile payment method suitable for people who prefer online transactions to deal with cash.
The company charges a fee to act as a payment processor for digital vendors auction webpages and many other commercial users.

This article encapsulates everything you need to know about opening and operating a PayPal account in Nigeria. Keep reading to learn more!
Table of Content
- Advantages of using PayPal for business
- A brief history of PayPal
- Pros and cons of using PayPal for business
- PayPal account creation steps
- How to use PayPal to send money
- How to use PayPal to receive money
Table of Contents
Benefits of Using PayPal for Business
If you’ve been debating whether or not to accept PayPal as a payment option for your business, you’ve come to the right place. You’ve probably heard of PayPal or that Paypal is now in Nigeria or used it as a consumer to pay for goods and services online. It is true that businesses can now use Paypal in Nigeria for payment on their website and even receive inflow from any part of the world.
If you have no prior experience with the platform, here are a few reasons to consider using PayPal as a payment option for your business;
1. Users Can Receive Payments from Anywhere in the World

The platform allows users to receive payments from any country around the globe. There are several currencies on the platform that people can use to pay for goods and services.
2. The Platform Offers Discounts
The platform provides discounts to its users who shop at specific retailers using PayPal. To take advantage of the discounts, copy the promotion code from PayPal’s shopping page and paste it at the vendor’s website when paying with PayPal.
3. The Platform is Secure
A key benefit of using PayPal for business transactions is that the platform is secure.
PayPal takes pride in its data protection and protects its clients’ financial information with industry-leading fraud prevention technologies.
Users can make payments without worrying about their financial information getting stolen.
A Brief History of PayPal
PayPal was founded in December 1998 by Max Levchin, Luke Nosek, and Peter Thiel as Confinity, a company that designed security software for handheld devices.
However, after failing with that business model, it shifted its focus to a digital wallet. In 1999, the first version of the PayPal electronic payment system was released.
Previously, Nigerians were restricted from using PayPal to send and receive funds.
Nigerians weren’t permitted to open accounts. However, that restriction was lifted in 2014, when the platform started allowing citizens to operate personal accounts.
Unfortunately, Nigerian personal accounts can only send funds. Users have no way of receiving money.
Pros and Cons of Using PayPal for Business
Like most payment platforms, PayPal has benefits as well as drawbacks. Here are a few of them;
PayPal Pros for Business | PayPal Cons for Business |
---|---|
PayPal is easy to set up and operate. | Chargebacks are expensive. |
Your clients don’t need to open PayPal accounts before paying you. | You have usage restrictions, and your account can be suspended at any time, resulting in funds being frozen for months. |
The platform is secure. | Many people refuse to utilize PayPal, which could lead to lost business. |
You can use the payment platform on many e-commerce stores. | Contacting the platform’s customer service department can be tricky. |
PayPal’s fees are lower than those of many merchant accounts. |
PayPal Account Creation Steps
Opening a PayPal account has become necessary for Nigerians as many e-commerce stores and service seekers require it as a payment method. There are two types of PayPal accounts. They are personal and business.
The personal account only allows users to pay for goods and services online. Users aren’t allowed to receive funds with it. Conversely, the business account will enable you to make payments as well as receive them.
Requirements for Personal PayPal Account
- Your legal name
- A valid email address
- A Visa or MasterCard
Requirements for Business PayPal Account
- Your legal name
- Your business name
- Your business information
- A government-issued ID
- A valid email address
- Your phone number
To register for a personal account;
- Visit the PayPal website with a reliable browser.
- Click sign up and select ‘personal’.
- After picking the personal account option, tap ‘continue’.
- Type in your email address and password.
- Proceed to the next page and provide additional information like name, birth date, phone number, and address.
- Ensure that the address you provide matches the one on your bank account.
- The next page requires you to provide your debit card details.
- You will receive a PayPal email requesting verification. Verify your account so you can start transferring funds online.
To register for a business account:
- Open the PayPal website.
- Click signup and select the business account option.
- Next, enter your genuine email address, personal and business details.
- You will receive a PayPal email requesting verification. Verify your account to start receiving and sending money online.
How to Use PayPal to Send Money
To send money from your Nigerian Paypal account:
- Login to your account.
- Click on ‘send payment
- Enter the recipient’s details.
- State the amount and payment method.
- Send the funds.
How to Use PayPal to Receive Money
Before you can receive money with PayPal, you need to register for a PayPal business account.
If you have a business account and want to receive money online:
- You can send an invoice to your clients for payment.
- You can receive funds via PayPal email.
In Conclusion
PayPal is an adequate payment platform for sending and receiving funds. The application has both benefits and drawbacks for Nigerian users.
The decision to utilize PayPal as your principal online payment processor is a choice that can significantly impact your business. So, before making a decision, it’s always a good idea to understand and weigh all your options.