There is no limit with the PayPal transaction you're trying to do, but there is a limit at the bank for doing so.
NB, there are 3 types of limits, and need to specify this very carefully. 1 is your daily limit overall. This you can normally set in your internet banking. Then there's a swipe limit (physically at the shop) and then there's a "what I can do online" limit.
The latter 2 limits have a R150k ceiling which they share, you can put your swipe limit at R80k and your online limit at R70k for example to make up the entire R150k. However, even with that limit set, there's a hard-set limit on the transaction itself of about R15k per transaction (so your daily limit is 80k, you can still just do a 15k transaction, as many as you want up to 80k)
The other thing you could try and do is use FNB "load" instead to get the money to your PayPal first (provided you're with FNB for that feature)
I'd stick with trying to get it through the CC though for the extra eBucks (again, if you're with FNB) but you'd need to phone them to raise this limit for you so you can make the payment (fyi, the default limit is R5000). You can't get past the hard-set limit per transaction though unless they changed that recently. So perhaps contact the retailer to ask if they can split up the payment into more manageable chunks