PayPal is one of the most widely used payment system for online transactions in the world. Sadly, Nigerians are restricted from using the service for receiving/withdrawing fund. Although, they can still use the service for making payment only to other PayPal account holders. The PayPal ban on Nigeria has been the major troubles with webmasters and online entrepreneurs in the country. No doubt, this is the reason some Nigerians are yet to start online businesses. However, aside from PayPal, there are other ways to receive funds in Nigeria.
Those who are finding it difficult to receive payment online because of Paypal restriction. This post was written with you in mind. Kindly note that the alternatives listed here may not be perfect replacements for Paypal, but they provide a great avenue.
5 PayPal alternatives
Below are the five ways to receive online payment in Nigeria aside from PayPal:
1. Skrill
This is formerly known as Moneybookers. It is amongst the best alternatives to Paypal that are available to people in Nigeria. Skrill service is very similar to PayPal. It allows you to send and receive funds. You can also fund your Skrill wallet from the Nigerian bank account and receive funds as well.
2. Payoneer Mastercard
This is another best PayPal alternative that allows Nigerians to receive funds. With the Payoneer MasterCard, people in Nigeria can receive payment from freelance sites, individuals, companies, and so on.
3. Bank Wire Transfer
Wire transfer is another method of making and receiving payment in Nigeria. Through this system, funds can be transferred from the sender’s bank account to your bank account in Nigeria. But for this to work for you, you will need to open a domiciliary account. Kindly note that though it’s speedy, this payment method is not instant. Meaning that you may have to wait for some business days before receiving your funds. Check out the requirements for opening a domiciliary account in Nigeria.
4. 2Checkout (2CO)
This payment system is also known as 2CO. This service allows you to integrate a payment system on your blog or website. Therefore, if you are selling products or render online services, this option allows clients or customers to pay to your account. If you want this method, go to https://2checkout.com and register.
5. Online Money Transfer Services
Another awesome way to receive money online here in Nigeria is through online money transfer networks such as TransferWise and WorldTrust.
These two services allow you to receive funds directly into your Nigerian bank account at a very low rate.
Source: nyscinfo