As simple as starting an online business might have sounded to you, no doubt one huge hurdle might have come with the PayPal restrictions placed on Zimbabwe. Receiving money to a Zimbabwean PayPal account was such a challenge. That challenge however, is fortunately now a thing of the past. However, withdrawing of the money still remains a slight issue.
People opening a merchant wallet in Zimbabwe can send money and most importantly now receive money via PayPal. Zimbabweans in the eCommerce space would previously need to set up elaborate integrations at entry level in order to facilitate the transactions of money. Now PayPal has made it easier for such ones and by allowing merchants wallets to be opened by Zimbabweans. The following statement was shared:
“Customers in Zimbabwe are now able to open business accounts. It is a permanent feature, but if anything changes we’ll make sure to inform anyone impacted”
Now, here’s the slight catch. If you were hoping to now be able to withdraw your money from PayPal, hold it right there. It is not yet certain if that will be available to Zimbabweans anytime soon. However, you can still link your card to PayPal and receive your funds that way. It still remains difficult to withdraw those funds through a personal account. In essence, the money can mostly be used in online transactions made through your account.
So what’s the point of using PayPal under such conditions? Well, PayPal is a very trusted payment method. In the case of business transactions it can protect both the sender and receiver of the money should the services/products paid for not be fulfilled. As a result, many people buying online prefer to use this form of payment. No doubt then that your existing and potential customers will be able to make transactions that benefit you/your business without much hesitation.
What are your thoughts?
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