NAIROBI, Kenya, July 29 – Safaricom has partnered with international digital funds agency PayPal to allow M-PESA customers to switch funds immediately between their wallets and PayPal accounts.
The integration, presently obtainable in Kenya, will serve over 35 million M-PESA customers and two million native companies, easing entry to worldwide e-commerce, freelancing revenue, and cross-border remittances. Plans are underway to increase the service to different M-PESA markets throughout Africa.
Safaricom Chief Financial Services Officer Esther Waititu stated the partnership will simplify international transactions for Kenyan customers by linking native and worldwide fee programs.
“Our partnership with PayPal is a step towards seamless and inclusive digital funds,” she stated.
The transfer targets Kenya’s rising gig financial system and digital entrepreneurship sector, the place many depend on PayPal for worldwide funds and M-PESA for home transactions.
Otto Williams, PayPal’s Regional Head for Middle East and Africa, stated the partnership advances monetary inclusion by bridging native monetary ecosystems with the worldwide financial system.
M-PESA processes over $1.1 billion (Sh141.9 billion) every day, whereas PayPal has 400 million energetic customers throughout 200 markets.
