Safaricom has signed a deal with global online cash transfer platform PayPal. The partnership paves the way for direct transfer of funds between M-Pesa and PayPal accounts. Users in Kenya will be able to link their PayPal accounts to their M-Pesa, making it easier for them to make cash transactions worldwide.
“M-Pesa’s collaboration with PayPal will open up global marketplaces and the global economy to millions of Kenyan and Kenyan-based businesses and individuals.”
“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.
Customers will now make online purchases by topping up their PayPal accounts directly from their M-Pesa wallets and equally withdraw money within a timespan of hours to three days, depending on the amount transacted.
“We are excıted to brıng the M-Pesa 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,” said Efi Dahan, PayPal General Manager for Middle East, Africa, and Russia.
