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PayPal ‘excited about the future’ as it rolls out its Africa strategy | End24

PayPal’s Director of Sales Development for Africa, Mark Mwongela Ngungi.

The growth of e-commerce, accelerated by the Covid-19 pandemic, has prompted US fintech giant PayPal to aim for a bigger share of the cross-border transaction market in South Africa and neighboring countries.

The online payment system provider recently undertook research involving 400 South African SMEs to understand their e-commerce adoption and growth plans, in order to assess potential opportunities in the market.

The survey showed that during the pandemic, nine out of 10 SMEs surveyed have established an online presence, while more than four out of five businesses say their customers are comfortable shopping online. World Wide Worx CEO Arthur Goldstuck, whose company conducted the research on behalf of PayPal, said on Tuesday it was a significant leap from the early days of e-commerce in South Africa, where only one in five shoppers were comfortable with buying digitally.

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