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FNB launches PayPal services in SA
25 Mar 2010
South Africans can finally use the full suite of services from US online payments company PayPal, but only if they have a bank account from First National Bank.
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.
Source: TechCentral
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
About Duncan McLeod
Award-wining Duncan McLeod is the founder and editor of TechCentral (wwwTechCentral.co.za, @TechCentral]]), South Africa's latest technology news site offering breaking news, in-depth analysis and opinion that launched in September 2009. Before that, he was associate editor at the Financial Mail/FM. Contact Duncan on email duncan at techcentral dot co dot za and follow him on Twitter at @mcleodd.
