There is a huge demand for ePayment systems in Africa connecting countries within the continent and connecting the continent to the rest of the world.
Have you resided in Africa and felt cut out from the rest of the world unable to transact business online, sometimes in spite of all your knowledge and money? You are not alone. Today, if I reside in almost any country in Africa, I cannot pay or receive money for a legitimate transaction made on most websites, using Paypal and other globally accepted payment instruments. Even for South Africa which has a somewhat more developed financial system, Paypal does not allow residents of the country to receive payments.
“If I had a choice, I would not in any way be using PayPal at all, because as an African I’m only allowed to send funds through their service and not receive funds.
There are countless affiliate marketing programs, that I wish I could join and sell these products on my website, however because these publishers offer payment through PayPal, I’m not able to join.
It’s unfortunate that PayPal, haven’t seen the bigger picture”
Above is a typical statement about the problem faced by people living in Africa in transacting legitimate business online because of a lack of online payment options for African residents. There is no doubt that the current arrangement is holding Africa and her residents back in many significant ways.
Many reasons are adduced to the lack of a viable and globally accepted payment infrastructure that allows people living in Africa from being full participants in global e-commerce market; chief among these reasons is the perception that Africa is “high risk” due to:
1. Credit card fraud
2. Lack of legal enforcement
3. Lack of integration of financial institutions to global networks.
These are legitimate concerns and it requires Africans to come up with homegrown solutions that address the concerns while at the same time operating best practice processes in risk management.
At PayLid we are committed to changing the landscape. We have built our platform with the end goal of safe, secure and seamless multi-channel, person to person transfer of money within, to and from Africa in mind.
Today you can fund your Paylid account via multiple options from cards to ACH. Today you can use your funded account to buy various items on our portal or to send money to your loved ones in Africa. Tomorrow, you will be able to send money from your balance to another PayLid account and the account holder will be able to withdraw the funds via their bank accounts. This will allow people to transact business seamlessly across the countries in which we operate.
Shortly we will provide remittance services to 21 countries in Africa; tomorrow we aim to cover all of Africa. Our goal is to facilitate ecommerce in Africa and have it drive productivity, jumpstart economic growth and create employment across Africa. Efficient payment systems are a critical component that will make this happen and we are committed to providing that.
It looks like a tall order but it’s possible. Sign up for a PayLid account today and send money home to your loved ones.
