PayPal users can now seamlessly move money to their MPesa accounts following an integration that will ease movement of funds between the two platforms.PaypalPayPal users can now seamlessly move money to their MPesa accounts following an integration that will ease movement of funds between the two platforms.

To link the M-Pesa and PayPal accounts, users will be required to register and log in with their PayPal credentials at www.paypal-mobilemoney.com/m-pesa to start using the service.

An SMS confirmation code will be sent to the user's phone to complete the registration and the linking of the two accounts.

The integration comes after M-Pesa released an updated API in 2017 that allows businesses and online payment platforms to easily integrate with M-Pesa.

A statement from Safaricom states that 'qualifying' M-PESA customers in Kenya can link their PayPal accounts to their M-PESA wallets, enabling them to easily and securely buy goods and services from merchants around the globe.

Safaricom's Director of Strategy, Joseph Ogutu said this development injects speed and convenience, "through which more entrepreneurs and consumers can benefit from the growing eCommerce industry."

The PayPal - M-Pesa tie-up will likely be a blow to Equity Bank which has been the only local merchant for the international payment getaway.

According to its 2017 end of year Financial Results, Equity Bank recorded a 132 percent increase in the volume of transactions across its international money transfer platforms. 70 percent of income generated from online transactions from the diaspora came from PayPal.

Equity - PayPal users in Kenya increased by 47 percent between December 2016 and March 2017, indicating the increasing number of Kenyans receiving and sending money through PayPal.

While announcing new tiered PayPal to Equity Bank withdrawal rates, Equity Bank Group CEO Dr. James Mwangi had said online transaction fees will continue to be a key revenue stream for the bank.

The new rates charges users between 1percent and 1.5 percent depending on the amount withdrawn.

PayPal's volume of transaction increased significantly in the past year as well. PayPal withdrawal time was last year reduced from 8 days to 3 days.

https://africanjotter.com.ng/kenyan-paypal-users-can-now-move-funds-easily-to-m-pesa-accounts/

Makes sense, will be linking it to my Mpesa hoping the exchange rate is cool.

Pavore9:
Makes sense, will be linking it to my Mpesa hoping the exchange rate is cool.

The current PayPal-Mpesa service is best for small transactions(Coz one can only have up to sh 100,000 in MPesa).The exchange rate is a bit high(around 3%) but this is better than the former services like Chura which basically used to fleece us!!. I hope the transactions become instant with time.I hate waiting 2 hours for my money to arrive!!
But for large transactions Paypal -Equity Bank is still the best. They lowered their fees to 1% for transactions over sh 500,000, 1.125% for 200,000 to 500,000 and 1.25% for transactions between sh 100,000-200,000 and of course the standard 1.5% for transactions below sh 100,000. The main issue for Equity Bank PayPal withdrawals is the 3 Business Days nonsense!!What are they doing with our money at that time when withdrawals are complete to Equity Bank's PayPal account is complete within the hour??

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GERALD710:

The current PayPal-Mpesa service is best for small transactions(Coz one can only have up to sh 100,000 in MPesa).The exchange rate is a bit high(around 3%) but this is better than the former services like Chura which basically used to fleece us!!. I hope the transactions become instant with time.I hate waiting 2 hours for my money to arrive!!
But for large transactions Paypal -Equity Bank is still the best. They lowered their fees to 1% for transactions over sh 500,000, 1.125% for 200,000 to 500,000 and 1.25% for transactions between sh 100,000-200,000 and of course the standard 1.5% for transactions below sh 100,000. The main issue for Equity Bank PayPal withdrawals is the 3 Business Days nonsense!!What are they doing with our money at that time when withdrawals are complete to Equity Bank's PayPal account is complete within the hour??

They do it for security purposes. The scale of illegal transactions that take place from PP to Equity and now M-Pesa, spearheaded by the Nigerians is mind boggling.

GERALD710:

The current PayPal-Mpesa service is best for small transactions(Coz one can only have up to sh 100,000 in MPesa).The exchange rate is a bit high(around 3%) but this is better than the former services like Chura which basically used to fleece us!!. I hope the transactions become instant with time.I hate waiting 2 hours for my money to arrive!!
But for large transactions Paypal -Equity Bank is still the best. They lowered their fees to 1% for transactions over sh 500,000, 1.125% for 200,000 to 500,000 and 1.25% for transactions between sh 100,000-200,000 and of course the standard 1.5% for transactions below sh 100,000. The main issue for Equity Bank PayPal withdrawals is the 3 Business Days nonsense!!What are they doing with our money at that time when withdrawals are complete to Equity Bank's PayPal account is complete within the hour??

Still way better than those of the local exchangers. Personally I get my PayPal payments through someone in the U. S then she sends to my Mpesa via Wave at a very good rate. Two days ago, I got it at 98.36ksh/$.