M-Pesa and PayPal clients can now easily access their funds and make transfers between the platforms without necessitating paperwork and lengthy processes. With the diversity in businesses carried out online, payments can be made to Kenyans in other currencies, often in dollars. This article looks into how one can quickly transfer money from M-Pesa to PayPal.
This is a product developed as a result of the partnership by Safaricom, PayPal, and TransferTo. The service is of use to Kenyans who own a registered and active M-Pesa number, an android device, and a google account. The service is yet to be extended to incorporate iOS software operating system devices.
To use the service, one’s M-Pesa and PayPal accounts must be linked to allow for more to proceed. For new accounts on PayPal, users can input their M-Pesa numbers during the registration after reading terms and conditions and accepting them. The process is authenticated by having a four-digit code being sent to the phone number given and followed by verification.
Transfer from M-Pesa to PayPal
Once the two are successfully linked, users can now enjoy the services of transferring funds to either account, processing withdrawals, and so on. To transfer money to PayPal from M-Pesa, one logs into the M-Pesa PayPal page to establish the amount they wish to add to their account in Kenyan Shillings.
The site offers an exchange rate calculator that is always updated to reflect the present rates. This is found in the page’s top-up funds option. You then go to your M-Pesa app or menu, Lipa Na M-Pesa, and input 800088 as the business number and phone number consecutively under the pay bill option. Complete the process by keying in the figure in Ksh and verify using your pin.
Transfer and Withdrawal Charges
The service charges some cost on the amounts transacted on the platform. For the transfer transaction, standard rates apply, while top-ups are charged 4% of the figure being sent to PayPal. Withdrawals are charged 3% of the Kenyan value of the USD. These withdrawal transactions are processed between 2 hours and 3 days after which customers receive confirmation SMSs detailing their transaction.