FNB's PayPal hates young entrepreneurs
Last year PayPal partnered with FNB and launched in South Africa and the whole
industry was going insane at the possibilities tech entrepreneurs might now have
to do business online. Little did anyone realize that this service would actually be
useless to young up start entrepreneurs.
To sign up for a PayPal account you need one of two things a cheque account or
a credit card with FNB. The problem is not the FNB bit, the problem is the credit card
bit.
Banks will not give you either of these cards unless you have a stable month to month
income... in other words you need to be employed. This means the next Zuckerberg
trying to start up a business online has to get a job before even thinking about changing
the world because he can't get a PayPal account.
