Finally, after a long wait, Paypal users in Kenya can now withdraw money from Paypal and send from Money to pay using Mpesa. In a statement released today, Safaricom’s Director of Strategy Joseph Ogutu said that the collaboration with Paypal is expected to open up global marketplaces and the global economy to millions of Kenyans.
On the other hand, Efi Dahan who is the General manager for Paypal Middle East, Africa and Russia said that the collaboration with M-PESA is part of the company’s long-term strategy to enable eCommerce and democratize financial services on the African continent.
Below is a step by Step guide on how to register and connect Paypal to Mpesa.
1. Login to Paypal using this URL https://www.paypal-mobilemoney.com/m-pesa
2. Click at get started and Login with your email and password.
4. Enter your Mpesa Phone number to link the accounts
Make sure the mobile number listed on Paypal is the same as the one you’re using on M-PESA or else you will get this error. Also, check if the names match with the ones registered n M-pesa exactly.
5. You will receive a 4 digit verification code to confirm your account and from there you are good to go!
Quick Facts about Paypal- Mpesa collaboration
1. Withdrawals from Paypal to Mpesa will be processed in up to 3 calendar days.
2. Deposits from Mpesa to Paypal will be processed in real time but may take up to 4 hours to be reflected in your PayPal account.
3.You will be charged a 3% conversion fee for withdrawing money from Paypal to Mpesa.
4. You will be charged a 4% conversion fee for depositing money to PayPal from Mpesa.