PayPal aims to double growth in Mena within three years
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PayPal aims to double growth in Mena within three years

PayPal aims to double growth in Mena within three years

PayPal, which announced last week the launch of its Middle East operations, has said it aims to double its share of Middle East and North African e-commerce within three years after enabling customers in seven of the region's countries to open accounts linked to locally issued bank cards, Reuters has reported. The online payment pioneer owned by eBay has one million customers in the Mena region, about half of whom are in the UAE. Consumers remain wary of paying for goods online and about 80% of regional e-commerce is via cash-on-delivery transactions. "Cash on delivery is not so convenient. On the merchant side, it's more expensive and it's a greater risk," said Laurent Wakim, PayPal's head of Mena business development, told the news service. "For a buyer, you have to be home to pay when the guy delivers, otherwise you won't get the goods. Plus, many merchants will charge a specific fee," he said. The company is also planning to launch Arabic language services and aims to open a Dubai office in 2013, Wakim added.

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    AMEinfo Staff

    AMEinfo staff members report business news and views from across the Middle East and North Africa region, and analyse global events impacting the region today.

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