PayPal is an international e-commerce business allowing payments and money transfers to be made through the Internet. Online money transfers serve as electronic alternatives to paying with traditional paper methods, such as checks and money orders.
PayPal is an acquirer, performing payment processing for online vendors, auction sites, and other commercial users, for which it charges a fee. The fee depends on what currency or payments the seller is using. In addition, eBay purchases made by credit card through PayPal may incur extra fees if the buyer and seller use different currencies. In a layman’s term, it’s simply your virtual bank for payment and transfers of cash via Skype, Facebook, eBay amongst others. Before now, it was not available to customers in countries like Nigeria. If you need to use a PayPal account from a Nigeria proxy address (like you home address), you would need to go through some third party but all that is history now.
The service has been launched so relax Nigerians and get shopping.