PayPal and First National Bank (FNB) have announced they will be extending their partnership to offer PayPal withdraw service in Botswana
The service will allow FNB bank customers in Botswana to avail withdraw service provided by PayPal. Under this service, FNB customers can open a PayPal account and be eligible to receive payments in up to 26 different currencies. Customers can then link their PayPal account to their qualified FNB bank account and initiate withdrawals. During withdrawals, FNB will convert the amount from USD to Botswana Pula according to its conversion rate.
According to the company statement, this service gives local businesses the flexibility to do business on a global level and gain access to PayPal’s 183mn active customer accounts in 203 countries and markets.
Commenting on the partnership, PayPal general manager sub-Saharan Africa and Israel Efi Dahan said, “We are very excited to introduce this local withdrawal service into the Botswana market. Our extended partnership with FNB Botswana is very exciting because it provides an avenue for merchants to gain even greater control, grow their businesses globally and succeed in an increasingly competitive environment.”
PayPal had previously partnered with FNB to launch their withdrawal service in South Africa. Dahan commented that the expansion to Bostwana is a major milestone in Paypal’s initiative to enable e-commerce across sub-Saharan Africa and integrate it into the global marketplace.