Paypal to Mpesa and Vice-Versa


#1

So today morning I login on techweez to catch up with the latest tech news and bam I land on this article.

@sarunibm mind telling us the process?

Also someone has noted that the paybill number is 5 digits instead of 6?

Here 80088? Is it a typo or its correct?

The actual Paybill number is 800088


What options are there for direct Paypal Withdraw to Bank or Card?
#2

Finally can’t believe this is happening couldn’t have come at a better time , I think Equity Bank got wind of this new development and that explains why they resorted to lowering their transaction fees. Paypal to Mpesa and Vice-Versa


#3

#4

Check it out.

Press release

Paypal mpesa site


#5

Its working like charm i already linked my accounts without any hitches .


#6

i linked mine asap with zero issues,beauty is also that i have configured my paypal android app … time to make these international payments work…couldnt have come at a better time


#7

Managed to link my account too. The forex rate is on the high side. Check today’s rate.
FX Rate: 1 USD = 105.24 KES


#8

how did you configure the android app ?


#9

Did you get your sub/trial?


#10

This thing will kill prepaid card business. Right now, Paypal to Mpesa agents have to figure out their next move.


#11

Is this really accurate?

On the other hand, Safaricom users will attract a flat 3% charge on all withdrawals made.

Nimelogin and on the withdrawal page, they show you the amount that you will receive on your MPESA

Dollar amount x Exchange Rate.

Using Equity Bank, you’d get Ksh. 9648.07 using today’s rate.

It would be sketchy if the 3% is not yet accounted for. Someone please confirm if this is the case or not.


#12

USD is trading at 105. That’s where the Forex rate cost is at.


#13

I am not talking about MPESA to PayPal. I am talking about PayPal to MPESA.

There are different rates for each.


Deposit to PayPal = 105.xx
Withdraw from PayPal = 98.xx


#14

Mine tells me that my phone number and paypal does not belong to the same person. Have had that no. since 2009. I just withdrew money from paypal last week.

this is selling rate if you want to deposit to paypal, which I would not advice you to use mpesa. Buying rate for equity is 98 as at now.

wacha waende, they were extorting kenyans charging as high as 7%. I would rather wait equity 3 days.

just like coop bank, they tell you they will just deposit the amount you have by converting it to current rates… alafu baadaye unakatwa 550 ya SWIFT transfer… which equity charges 300 or less depending on the amount withdrawn

that is selling rate… average ya buying and selling is 101… but buying for most banks is 97-98.

I think equity is still way ahead of the competition currently… especially if you have eazzy pay.


#15

The number on your PayPal account ni the same na ile ya MPESA?

Also check the nationality on your PayPal account under settings.

You might also have to verify your account if you have never done it before.


#16

I have done everything, I use my paypal regularly since I get paid through it, and iko linked with two debit cards which are verified. it is also linked with equity self service portal.


#17

@Omgitsdes

Not everyone will enter the kingdom of heaven. :joy::joy:


#18

:grin::grin::joy::joy: I emailed them, wacha niskie their reply


#19

Typical of Equity to shaft you on the exchange rate.


#20

KCB is the king of this.

Buying - 96.33
Selling - 105.43


In Equity’s defense, they allow you to negotiate for any amount above $1000 if you use a dollar account. The preferential rate is usually 3-5 shillings more.

I use Sky Forex Bureau as the benchmark for these things.