Ever wanted to buy something online or make a transaction using PayPal, buy you only have money in your Mpesa? Okay, that’s not a problem anymore. Since Safaricom announced its partnership with PayPal, which allows Mpesa users to top up or withdraw money from their PayPal wallets, life has just been made easier. But before you can be able to use this service, you are required to have a PayPal account and link it with your Mpesa account. Before proceeding you will need to link your PayPal account with M-Pesa.
Contents
Cost and Duration
- Cost on top up – You will be charged 4% conversion fee + Pay Bill Mpesa charges will apply
- Cost on withdrawal – You will be charged a 3% conversion fee of the amount withdrawn
- Top up time – It may take up to 4 hours for the money to reflect in your PayPal account
- Withdrawal period – It takes between 2 hours and 3 days for the money to update on your Mpesa account depending on the withdrawal amount. The higher the amount, the longer it will take
- Exchange rate – It will appear at the bottom of the top up page or before confirming the transaction for withdrawal
- Transaction limits – Ksh 70,000 per transaction and Ksh 140,000 per day
- Withdrawal amount – You can only hold up to Ksh 100,000 in your Mpesa account. Make sure your Mpesa account can hold your withdrawal balance
How to top up money to PayPal from M-Pesa
The top up service to PayPal allows you to top up funds from your qualifying Mpesa account to your linked PayPal account to shop online or make payments with PayPal.
- Log into your account on PayPal mobile money service
- Click ‘Top Up’
- Enter the amount you would like to top up in USD and click ‘Calculate’ to get the equivalent amount converted in Kenya Shillings. This is the amount you need to transfer from Mpesa. (Exchange rate used will be displayed on the same page)
- Go to your M-Pesa menu
- Select ‘Lipa na Mpesa’ then the ‘Pay Bill’ option
- Enter Business number ‘800088’
- Enter your phone number as the account number
- Enter the amount in Kenya Shillings
- Enter your Mpesa PIN and press ‘Send’
How to withdraw money from PayPal to M-Pesa
The withdraw service from PayPal allows you to withdraw funds from your PayPal account to your linked qualifying Mpesa account.
- Log into your account on PayPal mobile money service
- Click ‘Withdraw’
- Enter the amount you would like to withdraw in USD. The amount you enter must be less or equal to the available balance in your PayPal account and more than $1
- Click ‘Continue to Withdraw’
- You will be redirected to a page showing the amount to be received in Kenya Shillings, the exchange rate used for the currency conversion, and the estimated transaction processing time
Click ‘Confirm’ to confirm and complete the withdraw transaction
Com o M-Pesa você recebe o dinheiro instantaneamente no seu telefone e nenhuma taxa é cobrada pelo depósito ou retirada. Ao contrário do caso dos bancos, onde terá de ser cobrado pela transação.