PayPal revealed plans to partner with successful mobile money companies in Africa to gain a foothold with the continent’s unbanked populations, Business Day reported.
In an interview with the South African news service, PayPal general manager for the Middle East and Africa Efi Dahan said the company wanted to increase its exposure in Africa by striking partnerships with local companies in target markets.
The US-based e-commerce giant already provides a range of online and mobile services in 50 African markets, and has deals in place to deliver remittances into Nigeria and South Africa through its Xoom brand.
With operator tie-ups, PayPal hopes to take a greater role in delivering services to unbanked populations and further expand its Africa footprint.
Dahan added the company was also introducing several initiatives designed to boost online retail across a number of countries on the continent.