With 100 Million Arab users online, PayPal is expanding in the region and become available in Egypt and soon in Lebanon.
Paypal, The world’s most famous online payment platform [a wholly owned subsidiary of eBay Since October 3, 2002] after many years of blocking it’s services in some Arab countries [includes: Egypt, Lebanon, Morocco,Yemen, Tunisia and Algeria] due to security issues.
Today, Egyptians can sign up for PayPal accounts (Individual/ Business) and use the online payment service in their own country. And this should pave the road for new era of e-commerce for Egyptian SME’s
Though the prevalence of cash-on-delivery in the Middle East delayed the roll-out of PayPal in the MENA region, the trend now appears to be shifting.
In an interview with ArabNet founder and CEO, Omar Christidis, Ghanem said that e-commerce in the MENA region was a $9 billion industry in 2012 and is projected to reach $15 billion by 2015.
PayPal currently has 5% share of the market and aims to raise its share to 10% in the next three years.