Safaricom and PayPal have announced a strategic collaboration to enable seamless fund transfers between M-PESA and PayPal accounts. This partnership aims to empower over 35 million M-PESA customers and two million businesses and micro traders in Kenya to access PayPal’s global network.
By linking their PayPal and M-PESA wallets, users can easily transfer funds from their PayPal accounts into their M-PESA wallets, and vice versa. This service is designed to enhance the experience for customers and businesses transacting between the two platforms. The solution is currently available to Safaricom M-PESA customers in Kenya, with plans to roll out the service to other M-PESA markets in the future.
Esther Waititu, Chief Financial Services Officer at Safaricom, stated, “As globalization and digitization continue to reshape how people and businesses connect, our partnership with PayPal is a bold step forward in enabling seamless, worry-free, safe, secure, and inclusive digital payments. This collaboration empowers over thirty-five million customers and two million businesses and micro-entrepreneurs across Kenya to participate in the global digital economy by conveniently sending and receiving payments across more than 200 markets.”
Otto Williams, Regional Head and General Manager for the Middle East and Africa at PayPal, added, “Building seamless connections between the global economy and local financial ecosystems is crucial to expanding digital financial inclusion. We are thrilled to enable millions of M-PESA’s customers across Africa to connect more easily to PayPal’s international customer base.”
This collaboration marks a significant step in bridging the gap between mobile money services and global online payments, providing Kenyans with greater access to the global digital economy.
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