More than 1-million South Africa accounts have been opened on the global payments platform PayPal, just four years after the first deal with First National Bank (FNB) made it possible for people and businesses in South Africa to make and accept PayPal payments.

With 152-million active accounts in 203 markets around the world, PayPal provides a simple and secure way to shop and pay on millions of Web sites around the world.

In South Africa that means people can buy from stores in London and New York without having to enter their financial details on the store’s Web site, and for businesses it means the opportunity to accept payments in over 100 currencies from people around the world.

Through the partnership with FNB, money can be withdrawn from a PayPal account to any eligible bank account or a PayPal account can be topped up from any FNB bank account.

“Online commerce creates a world of opportunities for buyers and sellers, but entering card details on an overseas website or accepting a payment from someone overseas can be concerning,” says Malvina Goldfeld of PayPal. “What PayPal represents is trust, which is why we process over 9-million payments every day, including 2,4-million international payments.”

Erna Vakis, GM: complementary online services at FNB, says: “One-million accounts is an extremely significant milestone for both PayPal and FNB.”

Ryan Bacher, MD and founder of NetFlorist, adds: “E-commerce forces you to think globally. With a high-quality, reputable brand, your potential customers are not only those in your home country. Many South Africans now living overseas use our web site to send flowers to family back home for example.

“As a globally recognised and accepted brand, the PayPal payment option makes people feel more secure when making their final payment.”