Today, Egyptians can sign up for PayPal accounts and use the online payment service in their own country. Online shoppers were thrilled and some even labeled it “the best piece of news ever”.
With 5% of market share, PayPal is one of the pioneers in shifting from the cash-on-delivery method to online payment. To increase the market share to 10%, one of the main steps PayPal had to take was to enter Egypt.
Daily Star Lebanon quoted general manager of PayPal Elias Ghanem, saying that e-commerce in the MENA region was a $9 billion industry in 2012 and is projected to reach $15 billion by 2015.