Therefore, withdrawal from PayPal was hectic however Safaricom in the collaboration between Thunes, and PayPal has paved the way for an easier money transfer solution known as the PayPal MPESA Service.
This service streamlines transactions between PayPal and MPESA accounts, revolutionizing the way users manage their funds. In this comprehensive guide, we delve into the intricacies of carrying out all M-PESA PayPal transactions in 2024, ensuring a seamless and efficient process for users.
Currency Management
One of the key features of the M-PESA PayPal Service is its ability to facilitate transactions in multiple currencies. Users have the flexibility to top up and withdraw funds in US Dollars (USD) through their PayPal accounts while managing their M-PESA balances exclusively in Kenyan Shillings (KSh).
When users possess multiple currencies in their PayPal account, they must convert these funds into USD before initiating withdrawals to their M-PESA account. The currency conversion process can be effortlessly executed within the “Manage Currencies” section of their PayPal account.
Eligibility and Account Setup
The M-PESA PayPal Service is tailored exclusively for users in Kenya who possess registered M-PESA accounts, Google (PayPal) accounts, and Android devices. To harness the benefits of this service, users must complete the account setup process, which entails registering for both M-PESA and PayPal accounts. M-PESA registration can be conveniently completed at any M-PESA agent outlet across Kenya, while PayPal registration is facilitated through the official PayPal website (paypal.com). Once registered, users are required to link their PayPal account to their M-PESA account, establishing a seamless connection for transactions between the two platforms.
Linking Your M-PESA Account to PayPal
For new PayPal account holders, the process of linking their M-PESA account is straightforward and user-friendly:
- Visit the PayPal Website: Access the official PayPal website at PayPal-mobilemoney.
- Login and Follow Instructions: Click on the ‘Login’ menu, follow the on-screen instructions, and log in to your PayPal account.
- Enter M-PESA Account Details: Provide your M-PESA account phone number and accept the terms and conditions.
- Confirmation Code: Enter the 6-digit confirmation code sent by Safaricom to your M-PESA-linked mobile number.
- Completion: Once linked, users can seamlessly conduct withdrawals from PayPal to M-PESA and deposits from MPESA to PayPal using the same connection.
How to Withdraw Funds from PayPal to M-PESA
The process of transferring funds from PayPal to a linked M-PESA account is hassle-free:
- Log in to PayPal: Visit PayPal-mobilemoney and log in to your PayPal account.
- Select Withdraw: Choose the ‘Withdraw’ option, and your available USD balance will be displayed.
- Enter Withdrawal Amount: Input the desired amount in USD and click ‘withdraw’ (up to your available USD balance).
- Confirmation: Review the amount to be received in Kenyan Shillings, exchange rate, and estimated processing time, then click ‘Confirm’ to complete the transaction.
How to Top Up Your PayPal Account from M-PESA
To add funds to your PayPal account using M-PESA funds:
- Visit M-PESA PayPal Web Page: Access the M-PESA PayPal web page.
- Select Top Up Funds: Choose the ‘Top Up funds’ option.
- Enter Amount and Calculate: Input the desired amount in USD and click ‘calculate’ to view the equivalent in Kenyan Shillings.
- Complete Payment: Proceed to your M-PESA menu, select ‘Lipa na M-PESA,’ and enter Business no. 800088, your phone number as Account No., the amount in Kenyan Shillings, and your M-PESA PIN, then send the payment.
Transaction Processing Time and Limits
Withdrawn funds are typically processed to the user’s M-PESA account within 2 hours to 3 calendar days, depending on the transaction value. The estimated processing time will be presented before confirming the transaction. Users should note that current M-PESA transaction limits apply, with a maximum of KSh. 250,000 per transaction and KSh. 500,000 per day.
Customer Support
For queries or additional information regarding PayPal to Mpesa transactions, users can avail themselves of various support channels:
- Call 100 or 200.
- Call +254 722 002100 (for prepaid customers) or +254 722 002200 (for post-pay customers).
- Reach out via Twitter: @Safaricom_Care and @SafaricomPLC.
- Connect on Facebook: @SafaricomPLC.
- Visit any Safaricom shop for in-person assistance.
Embrace the convenience and efficiency of M-PESA PayPal transactions, revolutionizing the way you manage your finances in the digital age. Experience seamless fund transfers and unparalleled convenience, empowering you to navigate the financial landscape with ease and confidence.