Paypal Partner With First Bank Nigeria

First Bank Nigeria has just announced a sealed partnership with PayPal that will enable customers use the payment service right from their Internet Banking portal.

This arrangement gives FirstBank the exclusive ability to allow her Internet banking customers open a PayPal account right from their FirstOnline account.

First Bank customers also get automatic verification of their PayPal accounts.

The motivation behind PayPals decision to integrate exclusively with First Bank is not far fetched considering 30% of the bank accounts in Nigeria are reported to be First Bank accounts.

First Bank ATMs dispensed 1.7 trillion Naira last year, more than the whole industry dispensed in 2011. First bank accounts for more than 40 per cent of active Interswitch cards.

They claim 90 per cent are active with 250 transactions per second projected to reach 100 per second and their mobile money offering, FirstMoni