PayPal Kenya: How to Register, Transfer funds, and Link PayPal to M-Pesa
This article will look at how simple it is to open a PayPal account in Kenya, make transactions, and even connect PayPal to Mpesa. If you want to learn all, there is to know about PayPal’s ecosystem in Kenya. I guarantee you’ll read this post all the way through.
Let us get this party started.
Kenya is often referred to as the “Father of Mobile Banking,” owing to M-Pesa, which we have previously covered thoroughly on Mfidie.com. M-Pesa’s success has spread around the globe, although it is still not generally recognized as a payment method in practically all nations. For these reasons, many have sought to look for alternative means of payment.
M-Pesa is relatively easy for a Kenyan blogger like myself to collect most of my payments when my job is over. But, if I get a job in another country, would Mpesa be accepted? Yes, but in most circumstances, it will not function. Now, someone could object to using an M-Pesa Visa card, but let’s leave that for another day and concentrate on the right-hand solution PayPal.
Since its introduction in 1998 in the United States, PayPal has become a widely acknowledged money transfer network. The platform has been functioning in the nation for some time, and it is anticipated that billions of transactions have already been made possible via it. Equity Bank of Kenya was the first to push the product, and later Safaricom joined the group.
The partnership between PayPal and Safaricom was a game-changer in the country, and PayPal Mpesa benefited from the partnership in 2018. By buying with PayPal businesses, many Kenyans will now be able to access worldwide services where M-Pesa is not available. This is the kind of blog that we suggest sharing with your friends if you want to profit from what PayPal has to offer.
In Kenya, how does PayPal work?
The most straightforward method to get the most out of PayPal in Kenya is linking it to your M-Pesa account and using its features. Other options include tying your account to your credit card or bank account.
When you link your PayPal account to M-Pesa, you may deposit money into your M-Pesa wallet, transfer money to PayPal, and even do the reverse.
However, before going through all of those steps, it’s always a good idea to grasp the inner workings of how PayPal and M-Pesa function together. This begins with basic information such as understanding the different kinds of PayPal accounts and the signup procedure. If you’re a computer nerd like me, you may jump ahead to where you’re comfortable, but don’t be tempted if you’re starting to start.
What are the different types of Paypal accounts available in Kenya?
No matter where you are global, PayPal has two different kinds of accounts to choose from. There are two types of accounts: personal and business. The first may be used to make online purchases and transfer money to friends and relatives. When you join up for the site, all you have to do is submit your valid credentials. The process of creating an account is free.
On the other hand, the Business accounts are geared toward merchants who operate online storefronts or offer online items and services.
This account has more features, such as verifying information to ensure that you are authentic.
However, for the sake of this post, we will use a Personal Account since it is the easiest to set up and the most well-known among the general public.
In Kenya, how can I get a personal PayPal account?
- To begin the registration procedure, go to paypal.com in your computer browser
- As previously indicated, choose the account type, which I assume is a personal account
- Fill in your correct information; I emphasize correct information because PayPal will terminate your account if you enter incorrect information.
- Choose the method for submitting your information; you may include your national identity card number or passport information if needed.
- Confirm all of the data and consent to the account’s creation
- You’ve successfully established a PayPal account
- Remember to confirm your account in the email delivered to your inbox.
How to Make a PayPal-Mpesa Connection
It is usually advisable to connect your account with M-pesa after it has been set up. Remember that until you complete this activity, you will not be able to collect payments from any Platform or usage.
To connect your Visa or MasterCard, follow the steps below. Click Add a Bank Account or Card>> Click Link a Card>> Enter all essential information. Note that PayPal will debit about Ksh 250 from your bank account after completing this procedure, subject to your approval. Enter the code sent to your phone number to complete the linking procedure.
- To link PayPal With M-Pesa
- Visit the PayPal Mpesa page for more information
- To begin, use the ‘Get Started’ button.
- Enter the Safaricom Mpesa number you’d want to link to PayPal
- Verify the code using the code sent to your Safaricom Number
As easy as that, remember to visit the PayPal Mpesa website if you need any help with Paypal Mpesa, such as topping up or withdrawing money.
What are the new Mpesa costs for Paypal?
For any transactions carried out between the two sites as of 2022. You will be charged 3% during the PayPal withdrawal procedure, and during M-Pesa Top-Up, you will be charged 4%. Depending on the transaction (withdrawal or topping up), the maximum time it takes for your money to be processed by the two platforms is up to days. That does not mean it is constant; it may take up to two hours or even minutes.
N.B. The maximum amount you may withdraw each transaction is Ksh 70,000, with a daily limit of Ksh 150,000.
If you have any questions, please leave them in the comments box, and I will respond as soon as possible.