FNB and PayPal, a subsidiary of online auctions giant eBay, have struck a deal with each other and the SA Reserve Bank that will finally allow South Africans to receive international payments into their PayPal accounts and transfer this money into their bank accounts.
PayPal has had to partner with a local financial services institution as a way of dealing with SA's onerous exchange control regulations. All transactions involving the PayPal service will automatically be reported to the Reserve Bank.
Continue reading the full story on www.TechCentral.co.za.
Founded by Duncan McLeod, TechCentral is the leading quality news and information resource for people involved in South Africa’s fast-growing information and communications technology industry and those interested in the fast-changing world of information technology. It provides quality news, reviews and comment relevant to its quickly expanding audience. Follow TechCentral on Twitter at TechCentral, become a Facebook fan and subscribe to the daily newsletter.
Go to: http://www.techcentral.co.za
