MPesa Team in Kenya has partnered with PayPal to offer seamless ways of withdrawing, depositing and transferring of cash from MPesa to Paypal and vice verser. The collaboration of MPesa and PayPal will bring huge benefits to Kenyans online geeks. It will also assist e-commerce businesses by enabling them to embed PayPal on their websites without worry as they will be able to get their products sales directly into their MPesa.
MPesa Paypal Collobotation
According to a tweet seen by Hack Smile, Safaricom announced collaboration on Wednesday 12, 2018.
Make sure you also read: How to add Mpesa button to your website without API (Developers only)
We have collaborated with @PayPal and @TransferTo to introduce a new service that will allow movement of funds between M-PESA and PayPal accounts, a huge boost to international eCommerce #MPESATuhttps://t.co/axIH03pSWe pic.twitter.com/o967WVz5pH
— Safaricom PLC (@SafaricomPLC) April 9, 2018
Detailed Video on MPesa to Paypal transactions
https://www.youtube.com/watch?v=LR-Ao6H951A
Charges for using MPesa Paypal transactions
The most frequently asked question would be, what charges will apply for using Mpesa to Paypal transaction? Paypal confirmed that they will incur charges depending on type of transaction. Following will be charged for using Mpesa PayPal transactions.
- withdrawals: For withdrawals, you will be charged 3% conversion of the amount widthdrawn
- Toping Up: you will be charged a 4% conversion of the amount
- Normal MPesa charges will be applied while depositing your cash from MPesa to PapPal
For more information on transaction charges, kindly Read More Here
How long will it take to transact between MPesa and Paypal
It will take 2 hours to 3 calendar days to process withdrawals from Paypal to MPesa account. Paypal has however confirmed that the actual wait time, will be presented to you on confirmation of the transaction.
Mpesa PayPal shortcomings
Having mentioned all things you expect, it’s also good to understand shortcomings or challenges involved in Mpesa Paypal transactions:
- M-PESA and PayPal accounts are not administered by TransferTo. Accordingly, Paypal cannot provide you with an M-PESA or PayPal account transaction history
- Transaction will be taking too long time before receiving cash on your mobile, although this will quicker than using Equity Bank where you had to wait for money to mature.
- Unfortunately, once you’ve confirmed a top up or withdrawal, you won’t be able to stop or reverse it. Please see Paypal Terms and Conditions for more information.