- Partnership would allow customers to transfer funds between M-Pesa and PayPal accounts
- Qualified users can also connect their PayPal accounts to M-Pesa wallets
- Expanded service aims to give customers greater access to international e-commerce and to help businesses reach a global audience
Safaricom has recently announced an expanded payments service that will allow users to make seamless cash transfers between M-Pesa and PayPal accounts.
Officials hope the new offering will help improve international e-commerce across Kenya and beyond.
M-Pesa users will now be able to connect their e-wallets to their PayPal accounts, making it quick and easy to purchase products or services from merchants online all over the world.
The goal of the partnership is to open the international marketplace for customers and to help Kenyan businesses expand globally.
"Beyond money transfers, this development ushers in a new era of speed and convenience beyond borders, as we work towards innovating robust platforms, through which more entrepreneurs and consumers can benefit from the growing e-commerce industry," said Safaricom's Director for Strategy Joseph Ogutu.
In order to access the new M-Pesa capability, users will need a valid PayPal account, which will allow them to transfer funds, make purchases and top up their PayPal balances in real time using funds from their M-Pesa wallet.
Most funds can be withdrawn quickly, within just a few hours, though larger transactions may take as long as three days to post.
Along with connecting businesses and consumers to PayPal's network of more than 18 million merchants worldwide, the service will also enable local businesses to market and sell their products and services to approximately 210 million active PayPal users across the world in as many as 25 different international currencies.
