Unfortunately we are still waiting for this to happen. At the time of the post there was definitely talk of this from paypal but due to some issues with the reserve bank, it unfortunately looks like this isnt going to happen anytime soon. No word from paypal, so we will have to sit back and wait.
From the 20 February 2013, Paypal will accept payment in Rands. Since paypal was introduced in South Africa in March 2010, sellers have not been allowed to accept payment in Rands. So this is exciting news for anyone wanting an e-commerce. This will definitely bring the price down for e-commerce sites, as it cuts back on the costs for lcoal Payment Gateways. The transaction fees are as follows: For transactions that originate within South Africa: Receiving a payment (standard pricing) is 3.90% + R 2.25 ZAR Receiving a payment (merchant pricing) is 2.90% to 3.90% + R 2.25 ZAR Receiving a payment (both digital goods and non-digital goods micropricing) is 5.00% + R 0.40 ZAR
For transactions that originate outside of South Africa: Receiving a payment (standard pricing) is 4.40% + R 2.25 ZAR Receiving a payment (merchant pricing) is 3.40% to 4.40% + R 2.25 ZAR Receiving a payment (digital goods micropricing) is 5.50% + R 0.40 ZAR Receiving a payment (non-digital goods micropricing) is 6.00% + R 0.40 ZAR
For all transaction types: Receiving a payment as an eCheque will incur an additional fee that will be no higher than R 40.00 ZAR. If the transaction involves currency conversion, there will be an additional fee of 2.5% added to the transaction. If a chargeback has been initiated for a transaction, a fee of R 75.00 ZAR will be charged.