In 2024, Kenyan users can seamlessly transfer funds between their PayPal and M-PESA accounts through the PayPal Mobile Money Service. This innovative financial bridge, facilitated by TransferTo in partnership with Safaricom and PayPal, has revolutionized digital transactions in Kenya.
To access this service, individuals need both a Kenyan PayPal account and an M-PESA account. The registration process involves linking these two accounts, creating a unified financial ecosystem for users. Once set up, moving money between platforms becomes a straightforward process.
When withdrawing funds from PayPal to M-PESA, users begin by selecting the Withdraw option within the service interface. The system displays the users PayPal balance, which should be in US dollars. If necessary, currency conversion can be performed on PayPals website before proceeding.
Users then enter the desired withdrawal amount in USD. The service redirects to a confirmation page, showing the equivalent amount in Kenyan Shillings, the current exchange rate, and an estimated processing time. After reviewing these details, users can confirm the transaction to initiate the transfer.
The processing time for withdrawals varies depending on the amount, typically ranging from two hours to three days. The exact timeline is provided before transaction confirmation, allowing users to plan accordingly.
