How To Withdraw Money From PayPal to M-Pesa
Today, many people use the opportunity to make money on the Internet outside their state. Even though there is a wide variety of ways to earn money in the labour market, problems often arise with receiving payment and transferring money. The PayPal service for MPESA allows you to transfer money from your PayPal to M-Pesa account.
Understanding the PayPal service for M-Pesa
PayPal MPESA is a financial service for withdrawing money (or topping up) from your PayPal balance to your M-Pesa balance. This service results from practical cooperation between the American payment service PayPal and the mobile giant Safarocom in Kenya. Thus, the optimal solution for transferring money and replenishing your accounts was found. Therefore, for residents of developing countries, the problem of online payment for services, products in stores and payment of utility bills has disappeared.
PayPal has a high global rating among users due to its high reliability and security, ease of use, and ability to promote its services. Therefore, this payment gateway is a powerful competitor of other payment services in the market. In addition, PayPal is excellent at adapting and modernizing to meet user needs and always does so promptly. Users began using their PayPal account instead of a credit card to ensure confidentiality when making online purchases.
Since earning money through PayPal was previously impossible in developing countries, it was decided to eliminate this problem. Therefore, thanks to the cooperation of two powerful companies, it is possible to withdraw from PayPal to Mpesa and receive the cash you earned. Consequently, many people in developing countries have the opportunity to enter the international labour market and make money using PayPal to MPESA withdrawal.
Fund transfer principle
The created payment service allows customers to transfer money from PayPal to MPESA. You need to create accounts on both the PayPal and M-Pesa services to have this opportunity. You can create an account on the website of these services. There is no single account for both services – the online transfer service is available only if you have two of these accounts. But before you can transfer funds between both accounts, you will need to link them.
How do you link two accounts together?
To send money from one account to another, you need to create a connection between both accounts. To do this, you will need to perform the following operations.
- Go to the “withdrawal of funds from PayPal to Mpesa” service and confirm that you are a person;
- Log in to PayPal for MPESA – the login principle will be similar to logging into your PayPal account (with the same name and password);
- Indicate the mobile number that you registered on M-Pesa;
- Click on “Link your accounts”;
- To ensure security, the system performs a check – a digital code will be sent to you on your phone to ensure that you are performing these operations, and then the received code will need to be entered in the column where it is requested.
There are often problems linking accounts, so it is essential to make sure that the names of the two accounts are the same. If you still can’t connect them, contact your local Help Desk.
What do you need to withdraw funds from PayPal to M-Pesa?
Once the two accounts have been successfully linked, it will be possible to make financial transfers between both accounts. To withdraw money from PayPal to Mpesa, you must first convert your funds into American dollars and then withdraw them. The service does not provide withdrawals in other currencies. Therefore, you must first log into your PayPal account and make a transactional currency exchange. After logging into your account, click “Withdraw” and immediately indicate the money you want to send to your M-Pesa balance. Next, the PayPal MPESA service will redirect you to a page where the following information will be displayed:
- the amount you plan to withdraw in your original currency;
- exchange rate for conversion (local currency to US dollars);
- duration of this operation.
After this, you must confirm the operation to complete the withdrawal of funds. It may take two hours to three days to transfer money from PayPal to MPESA. The transaction duration can be influenced by several factors, including the amount of money the user will exchange for American dollars.
What problems may arise during the money transfer process?
If users plan to send money from MPESA to PayPal (or vice versa), they may encounter several problems during the transaction. Let’s look at some of them.
Delay payments
If the client is a new user, his first payment may be delayed by several days. This delayed transmission ensures that the sender does not initiate any proceedings regarding the payment sent. Funds will be placed in a conditional virtual wallet (customer debit) and will remain there until specific conditions are met, and they can be sent to the recipient. Therefore, withdrawal from PayPal to Mpesa will also be delayed. This scheme of financial provider PayPal is based on specific risks, and the higher they are, the longer the transfer will be suspended. The virtual debit cards will store the money until the sender confirms the transfer.
Unprofessional support from local operators
Another problem that users may need help with when withdraw from PayPal to Mpesa is the unprofessional support of local operators. For example, in Africa, there needs to be a trained Help Desk that fully satisfies the needs of PayPal customers. If difficult situations arise with registration or making a transfer (or payment), the local operator will not always be able to solve the user’s problem.
Overcharge for service
Sometimes, local tariffs for servicing payment services can be high, and only some users can afford to pay for expensive services. It is because the PayPal withdrawal to Mpesa was explicitly created for the population of developing countries where people’s social standard of living is relatively low. Therefore, the service price may only be acceptable for some residents of such countries. For example, to send money from MPESA to PayPal, you must pay a commission of approximately 5% of the replenishment amount, and sometimes more, depending on the state.
Unstable conditions of use
Unstable operation of the local system can lead to accidental account blocking or the emergence of various restrictions. It is due to the imperfection of local software. Therefore, you may be unable to need help to withdraw money from PayPal to Mpesa. You must contact the Support Service; account verification will only sometimes be prompted.
Problems with mobile card
Problems may arise in PayPal MPESA if the user’s mobile card refuses to work or works intermittently, and it is impossible to carry out financial transactions.
Therefore, even though the user knows how to withdraw money from PayPal to MPESA, they may encounter technical or service problems specific to a given state.
The main advantages of the payment service
For those who know how to withdraw from PayPal to MPESA, you will receive the following benefits:
- Freelancers have the opportunity to withdraw funds from their PayPal account to their mobile phone;
- In many similar services, withdrawing money could take a week, but in this case, you can withdraw money in just two hours;
- You can quickly pay bills for purchased goods or services: top up your Paypal withdrawal to Mpesa, and you can pay the bill;
- It is possible to get remote work in various countries and receive wages if you decide to use Paypal to Mpesa withdrawal;
- The high degree of safety of money;
- Personal identification is required to log into your account.
The most important positive aspect is that M-Pesa users will have all the benefits that apply to the PayPal service. Thus, developing countries’ populations can expand the number of financial transactions.
Conclusion
This material looked at how to withdraw from PayPal to MPESA. Thanks to the two companies’ combined efforts, it became possible for the population of developing countries to receive money transfers and withdraw funds for cash. It allows the local population to find remote work in other states and cash out their wages. In addition, the joint work of the two companies has created the most secure payment service, where various identity checks are carried out, requests are made to confirm the transfer and so on.
The only thing you need to pay attention to is the amount of transfer and withdrawal of funds since each state may have daily or monthly restrictions, and also consider the exchange rate and transaction fees. Evaluating the effectiveness of such a payment service, it will quickly spread to many underdeveloped countries. It will improve the social level of the local population thanks to the possibility of providing remote earnings.
