PayPal's New Policies Spark Concern Among African Users
Kenyan fintech expert Robert Kingori has sparked a conversation with a widely shared post, highlighting PayPal's new policies that are causing concern among African users. The changes, set to take effect on April 21, 2025, include increased fees and service issues that could make the platform less viable for many Africans relying on it for international news transactions.
PayPal will introduce new fees for disputes, with users now charged $8 for standard disputes and $16 for high-volume disputes, regardless of the news. This comes amidst long-standing accusations from African users, including gig workers and cross-border trade merchants, of poor service from PayPal.
Transaction fees for receiving payments from abroad will also increase to 4.90% plus a fixed fee in most African markets. Withdrawal fees have been hiked, disproportionately affecting those relying on frequent, smaller withdrawals for daily expenses. Additionally, a new fee for withdrawals through third-party service providers impacts users relying on platforms like M-PESA and local banks.
Jesse Byarugaba, a fintech professional, recommends alternative platforms such as Stripe, Square, and Payoneer. Meanwhile, Mercury, a banking partner for startups, will close accounts of users in several countries, including thirteen African nations, due to U.S. federal scrutiny.
PayPal's new policies, while not yet in effect, are causing concern among African users. The increased fees and service issues could make the platform less viable for many Africans relying on it for international news transactions. Industry professionals are encouraging users to explore alternative payment solutions.
Read also:
- Unveiling the Less-Discussed Disadvantages of Buds - Revealing the Silent Story
- Grid Risk Evaluation Strategy By NERC Outlined, Focusing on Potential Threats from Data Centers
- Rapid Expansion in Organic Rice Protein Market Projected at 15.6% Through 2034
- Jaguar Land Rover's Month-Long Production Halt After Cyber Attack Could Cost Billions
