In today’s digital age, online payment platforms like PayPal have revolutionized the way we transact online.
However, withdrawing money from PayPal to a local mobile money service like M-PESA can be a bit challenging, especially for those who are new to the process.
M-PESA is a popular mobile money service in Kenya that allows users to send and receive money, pay bills, and purchase goods and services using their mobile phones.
In this article, we will explore how to withdraw money from PayPal to M-PESA and provide a step-by-step guide to help you navigate the process.
Whether you are a freelancer, an online seller, or a business owner, this guide will help you access your PayPal funds easily and efficiently.
How does PayPal and M-PESA work?
PayPal and M-PESA are both online payment systems that allow people to transfer money electronically.
However, they work differently in terms of how they are accessed and their target markets.
PayPal is an online payment system that allows people to send and receive money electronically. Users can link their PayPal account to their bank account or credit card and use it to pay for goods and services online.
PayPal also offers a mobile app that allows users to make payments from their smartphone.
M-PESA, on the other hand, is a mobile payment system that is popular in Africa, particularly in Kenya.
It is primarily used by people who do not have access to traditional banking services. Users can deposit money into their M-PESA account by visiting an M-PESA agent, who can be a local shopkeeper or street vendor.
They can then use their mobile phone to transfer money to other M-PESA users or to pay for goods and services at participating merchants.
M-PESA is accessed through a mobile phone, while PayPal can be accessed through a computer or a mobile phone. M-PESA also does not require a bank account, while PayPal does.
Both PayPal and M-PESA have been successful in providing electronic payment solutions to their respective markets, and they continue to evolve to meet the needs of their users.
How to withdraw money from PayPal to M-PESA?
To withdraw from PayPal to M-PESA, you’ll need to follow these steps;
- Go to https://www.paypal-mobilemoney.com/m-pesa
- Log in with your PayPal user details.
- Select Withdraw from PayPal
- The next screen will show you the available PayPal balance in your account.
- Enter the amount you would like to withdraw and click. Continue to Withdraw.
They will send the money to your M-PESA account in a few minutes.
FAQ
What is PayPal?
PayPal is an online payment system that allows users to make and receive payments securely over the internet.
What is M-PESA?
M-PESA is a mobile money transfer service that allows users to send and receive money via their mobile phones.
Can I withdraw money from PayPal to M-PESA?
Yes, it is possible to withdraw money from PayPal to M-PESA.
What are the requirements for withdrawing money from PayPal to M-PESA?
To withdraw money from PayPal to M-PESA, you will need to have a PayPal account and an M-PESA account. You will also need to link your M-PESA account to your PayPal account.
How long does it take for the money to be transferred from PayPal to M-PESA?
The transfer of funds from PayPal to M-PESA usually takes up to 2 hours.
Are there any fees for withdrawing money from PayPal to M-PESA?
Yes, there are fees associated with withdrawing money from PayPal to M-PESA. PayPal charges a 2.5% withdrawal fee, and M-PESA charges a transaction fee based on the amount of money being transferred.
Is there a limit to how much money I can withdraw from PayPal to M-PESA?
Yes, there is a limit to how much money you can withdraw from PayPal to M-PESA. The maximum amount you can withdraw in a single transaction is KES 70,000, and the daily limit is KES 140,000.
Can I withdraw money from PayPal to M-PESA in a different currency?
No, you cannot withdraw money from PayPal to M-PESA in a different currency. The money will be converted to Kenyan Shillings before it is transferred to your M-PESA account.
Can I cancel a withdrawal from PayPal to M-PESA?
No, you cannot cancel a withdrawal from PayPal to M-PESA once it has been initiated.
Conclusion
Withdrawing money from PayPal to M-PESA has become a simple and convenient process.
This is made possible by the partnership between PayPal and Safaricom, which makes it easy for Kenyans to withdraw money from their PayPal accounts to their M-PESA accounts.
The process is straightforward and can be done in a few simple steps.
By following the steps outlined in this article, you can quickly and securely transfer your PayPal funds to your M-PESA account.
With this service, Kenyans can access their PayPal funds easily and quickly, making it an excellent option for freelancers, online sellers, and anyone who needs to receive international payments.