CAMEROON JOINS PAYPAL COUNTRIES

Cameroon has joined the countries whose people can use the quick online paypal system of making payments, especially when shopping internationally. Cameroon joined the group on the 14 June 2014.

The reference source Wikipedia describes paypal thus: “PayPal is an international e-commerce business allowing payments and money transfers to be made through the Internet. Online money transfers serve as electronic alternatives to paying with traditional paper methods, such as checks and money orders. It is subject to the U.S. economic sanction list, and subject to other rules and interventions required by US laws or government. PayPal is an acquirer, performing payment processing for online vendors, auction sites, and other commercial users, for which it charges a fee. The fee depends on what currency or payments the seller is using. In addition, eBay purchases made by credit card through PayPal may incur extra fees if the buyer and seller use different currencies.

According to Wikipedia, “As of 2014, PayPal operates in 203 markets and has 148 million active, registered accounts. Starting from 17 June 2014 PayPal is available in Belarus, Cameroon, Côte d’Ivoire, Macedonia, Moldova, Monaco, Montenegro, Nigeria, Paraguay and Zimbabwe. PayPal allows customers to send, receive, and hold funds in 26 currencies worldwide. These currencies are the Australian dollar, Brazilian real, Canadian dollar, Chinese renminbi yuan (only available for some Chinese accounts, see below), euro, pound sterling, Japanese yen, Czech koruna, Danish krone, Hong Kong dollar, Hungarian forint, Israeli new sheqel, Malaysian ringgit, Mexican peso, New Zealand dollar, Norwegian krone, Philippine peso, Polish zloty, Russian ruble, Singapore dollar, Swedish krona, Swiss franc, New Taiwan dollar, Thai baht, Turkish lira and United States dollar. PayPal has localized marketing websites in more than 80 countries.”

The Post newspaper says: “Cameroon had been cut off from paypal since its creation because of high levels of financial fraud. But recently, online businesses have been on the rise and Paypal sees a potential market.”