PayPal’s renewed presence in Nigeria is anchored on a direct connection with Paga’s digital wallet, allowing Nigerians to finally receive international payments through PayPal and access those funds locally. By linking the two platforms, users can accept payments from abroad, convert them to naira, or retain balances in foreign currency for online spending.
Rather than relying on unofficial channels, the integration introduces a regulated pathway for cross-border payments, with currency exchange handled using willing-buyer, willing-seller rates. This positions the product as a formal substitute for the informal and crypto-based methods many Nigerians have adopted to work around PayPal’s long-standing limitations.
For Nigerian businesses, the partnership significantly expands reach. Merchants can now collect payments from PayPal’s global user base spanning more than 400 million accounts and accept funds in multiple currencies. Once payments are received, Paga serves as the local settlement layer, enabling transfers to bank accounts, spending through Visa cards, and payments to vendors and service providers within Nigeria.
The integration also extends to U.S.-based peer-to-peer payments, allowing Nigerians to receive money from Venmo users following Venmo’s interoperability with PayPal. According to Paga’s founder and Group CEO, Tayo Oviosu, PayPal Nigeria users can accept funds from Venmo and choose whether to hold those balances in dollars or move them locally.
Small and medium-sized businesses will continue onboarding through PayPal’s merchant platform, after which they can route international earnings through Paga for domestic use. PayPal says the partnership will evolve over time, with plans to further streamline onboarding, settlement, and reconciliation while maintaining compliance and adapting to Nigeria’s payment landscape.
Individuals can connect PayPal directly to existing Paga accounts, while business owners may open individual Paga wallets to link PayPal business profiles. Paga says the next phase of the partnership will enable direct PayPal acceptance across its merchant gateways, unlocking support for higher-volume and enterprise-level transactions.
How PayPal and Paga Enable Cross-Border Payments
The collaboration allows Nigerians to connect their PayPal accounts directly to Paga, making it possible to receive international payments and convert them to naira almost immediately. Users can accept funds from over 200 countries, spend online with PayPal-enabled merchants worldwide, or keep their balances in foreign currency if they choose.
Exchange rates are determined using a willing-buyer, willing-seller model, positioning the service as a formal alternative to the unofficial channels and crypto-based methods Nigerians have historically used for cross-border transactions.
For businesses, the integration opens the door to PayPal’s global customer base of more than 400 million users. Nigerian merchants can accept payments in up to 25 currencies and then route funds through Paga for domestic use, whether that means transferring to local bank accounts, spending via Visa cards, or paying bills and suppliers within Paga’s network.
The partnership also extends to peer-to-peer payments from the United States, allowing Nigerians to receive funds directly from Venmo users following Venmo’s interoperability with PayPal. “Anyone with a Nigerian PayPal account can now receive money from Venmo users in the U.S.,” said Tayo Oviosu, Founder and Group CEO of Paga, noting that recipients can choose to hold funds in dollars within PayPal.
Small and medium-sized businesses will continue to sign up through PayPal’s merchant platform, after which they can collect international payments and rely on Paga for local settlement. PayPal says the long-term plan is to deepen the integration by simplifying onboarding, settlement, and reconciliation processes, while ensuring the product remains compliant and tailored to Nigeria’s market realities.
Individual users with Paga accounts can link PayPal directly, while business owners can create individual Paga accounts to connect their PayPal business profiles. Paga says its next phase will enable full PayPal acceptance across its merchant gateways, allowing businesses to process higher-value and more complex transactions.
The partnership also extends to peer-to-peer payments from the United States, allowing Nigerians to receive funds directly from Venmo users following Venmo’s interoperability with PayPal. “Anyone with a Nigerian PayPal account can now receive money from Venmo users in the U.S.,” said Tayo Oviosu, founder and group CEO of Paga, noting that recipients can choose to hold funds in dollars within PayPal.
Small and medium-sized businesses will continue to sign up through PayPal’s merchant platform, after which they can collect international payments and rely on Paga for local settlement. PayPal says the long-term plan is to deepen the integration by simplifying onboarding, settlement, and reconciliation processes, while ensuring the product remains compliant and tailored to Nigeria’s market realities.
Individual users with Paga accounts can link PayPal directly, while business owners can create individual Paga accounts to connect their PayPal business profiles. Paga says its next phase will enable full PayPal acceptance across its merchant gateways, allowing businesses to process higher-value and more complex transactions.
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