Paypal to Mpesa Withdraw and Payment now possible as announced by Safaricom in partnership with PayPal and TransferTo.
MPesa registered users can now receive money from any PayPal account across the world directly into their MPESA accounts in real time.
This is very good news for Kenyans who work online and get paid through PayPal. Now you can easily withdraw Paypal to MPESA. PayPal users in Kenya will now also be able to load their PayPal wallets via MPesa PayBill number 800088.
PayPal is using the partnership to target Kenya’s growing online market, which is witnessing a surge in transactions as more people turn to online shopping especially for its convenience.
The service is provided by TransferTo in partnership with Safaricom and PayPal to allow transfer of funds from Paypal to Mpesa and vice versa, a boost to international ecommerce.
“Beyond money transfers, this development ushers in a new era of speed and convenience beyond borders, as we work towards innovating robust platforms, through which more entrepreneurs and consumers can benefit from the growing e-commerce industry”, said Joseph Ogutu, Safaricom’s director for strategy,
Internet Marketers and online writers in Kenya had major challenges every time they needed Paypal to Mpesa Withdrawal, since most of them were paid through PayPal by the many freelancing websites that they worked with internationally.
Initially Kenyans could only do Paypal to Mpesa Withdrawal using either the Payoneer credit card or through Equity bank’s Paypal withdrawal service. Transfer of funds to your Equity bank account from Paypal would take about three days which was inconvenient.
The new Paypal to Mpesa service is a breakthrough that offers Kenyan businesses the opportunity to boost their reach and grow internationally.
PayPal General Manager for Middle East, Africa, and Russia Efi Dahan, said “We are excıted to brıng the MPesa mobile wallet and PayPal joint services to the Kenyan market, which makes it more convenient and secure to withdraw and add money to their accounts while participating in the global digital economy,”
In order to use the PayPal Mpesa Mobile Money Service, you need to have a qualifying Kenyan PayPal and MPESA account. When registering to use this service, once registered you will then link your two accounts to be able to do Paypal to Mpesa Withdrawal and Payments.
To register for a Paypal Kenya account for those who don’t have one follow the link below.
You will also need your MPESA Account, which you can register for at any MPESA agent outlet across Kenya if you don’t have.
Once registered login using the Paypal Mpesa service provider TransferTo link below
How to register for Paypal Mpesa service?
- Log in with your PayPal login details (email and password).
- Enter your MPESA account phone number.
- After submitting your account details, TransferTo, on behalf of MPESA, will send you a 4-digit verification code to the mobile number linked with your MPESA account.
- Please enter the code to confirm and complete the account linkage.
- That’s it! Next time you can log in directly with your PayPal email and password and get started, you don’t need to relink your Mpesa phone number and your Paypal.
How to withdraw money from PayPal to MPESA in Kenya?
- After completing the registration, click “Withdraw”.
- Your available balance will be displayed. You will only be able to withdraw money up to the available USD balance shown in your PayPal account. If you hold a balance in your PayPal account in a different currency, please log in to your PayPal account at paypal.com/ke and convert the money into USD.
- Enter the amount you would like to withdraw from your PayPal account in USD.
- You will be redirected to a page showing the amount to be received in KES, the exchange rate used for the currency conversion, and the estimated transaction processing time.
- Confirm and complete the withdrawal of funds.
How to topup PayPal account using MPESA balance?
- After completing the registration, click “Top Up”.
- Enter the amount you would like to top up in USD and click “Calculate” to get the equivalent amount converted in KES. This is the KES amount you need to transfer from your M-PESA account. The exchange rate used will be displayed on the same page.
- Go to your M-PESA menu and select “Lipa na M-PESA” then the “Pay Bill” option.
- Enter Business Number 800088.
- Enter your phone number as the Account Number.
- Enter your M-PESA PIN and click “Send”.
- Use your newly topped up balance to easily and more securely shop online or send payments with PayPal.
Both PayPal and MPESA accounts must be held in the same name to allow you to transfer money between your accounts. The service does not support money transfers between different people.
Paypal Mpesa charges
The service is provided by TransferTo in partnership with Safaricom and PayPal to allow transfer of funds from Paypal to Mpesa and vice versa charge you a fee when you top up or withdraw funds.
Below are the charges that you should expect when you use the Paypal Mpesa service.
- Paypal Mpesa charges cover the following, including but not limited to:
- Banking fees/commission;
- Taxes; and
- Exchange control related fees and costs
- For Paypal to Mpesa Withdrawals, you will be charged a 3% conversion fee.
- For Mpesa to Paypal Topups, you will be charged a 4% conversion fee.
- In addition, for Topups, MPESA will charge you a customer to business paybill charge (the “Paybill Charge“) as detailed here.
- Before executing each Withdrawal, you will also have the option of viewing the applicable fees, charges and the applicable exchange rate for that transaction and you will need to confirm those in order to complete the transaction.
- Before executing each Topup, and only when using the calculator on the Service Website, you will also have the option of viewing the applicable fees, charges and the applicable exchange rate for that transaction.
- Each Topup and Withdrawal is subject to currency conversions:
- Exchange rates for Topups and Withdrawals will vary according to the daily fluctuations in xe.com daily exchange rates.
- You will be quoted a USD-KES exchange rate for both Mpesa to Paypal Topups and Paypal to Mpesa Withdrawals.
- For Mpesa to Paypal Topups, your MPESA Wallet will be debited for the (i) total send amount in KES at the quoted exchange rate (daily xe.com USD to KES exchange rate) and (ii) the Paybill MPESA Charge, and your PayPal Account will be credited with the send amount in USD at the quoted exchange rate, less any applicable fees.
- For a Paypal to Mpesa Withdrawal, your PayPal Account will be debited for the total send amount in USD at the quoted exchange rate(daily xe.com USD to KES exchange rate), and your MPESA Wallet will be credited with the send amount in KES at the quoted exchange rate, less any applicable fees.