News on Sunday

E-Commerce: PayPal partners with MCB to access Mauritian market

It’s a first in sub-Saharan Africa. All PayPal services are now available since Thursday on the ‘Juice’ service of the Mauritius Commercial Bank. In fact, the well-known company which operated a world wide online payments system has partnered with the Mauritius Commercial Bank Group to offer its services to Mauritians. The integration of both systems will allow users to make transfers from their PayPal accounts to their bank accounts and vice versa. About 90 000 customers use the MCB banking platform designed for smartphones. 

Previously, Mauritians making online purchases must credit their PayPal account via the internet and could not sell any products online. PayPal will now allow Mauritians to receive money from sales, to send and receive money to their PayPal account. No need to give their bank details at every transaction once the account has been created. According to Efi Dahan, General Manager of PayPal for the Africa region and Israel, the market share is 20%. The service has 192 million active accounts with a presence in 200 markets. He pointed out that in sub-Saharan Africa, there are 600,000 active accounts. “The main markets are Nigeria, Kenya, South Africa and Mauritius. We found that there are a large number of customers here,” he highlighted in an interview Wednesday.

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