PayPal Mobile Money Service with M-PESA.
Finally, in Kenya, you can now move funds between your PayPal and M-PESA accounts. Your money, your choice!
To learn how it works, follow this link: https://www.paypal-mobilemoney.com/m-pesa
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.
Instant Paypal Mpesa Money transfers
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.
The transaction between PayPal and M-Pesa is being powered by TransferTo, a B2B Cross-Border Mobile Payments Network for emerging markets. The money transfer is said to be instant, meaning users will see the amount reflect on their M-Pesa accounts, however, access to the funds will either be immediate or take up to 3 days, depending on the amount transferred.
Withdraw Paypal Dollars to your Safaricom Mpesa now!
There will also be no transaction charges on withdrawals but Forex charges will apply to the transactions. Deposits to PayPal via Mpesa Paybill will attract Paybill transaction costs.
All transactions are subject to M-Pesa transfer limits, meaning one can only transact a maximum of Kes. 70,000 per transaction with a daily transaction limit of Kes. 140,000. Compared to Equity Bank, this could be a bottleneck as the bank can handle larger amounts of money per transaction.