Deposting money to your PayPal account using M-Pesa is now possible in Kenya and also anywhere else where the mobile money service operates. With the help of TransferTo, Safaricom has launched M-Pesa-to-PayPal service to allow you deposit money to the online payment platform. Read on to learn how to send money to PayPal using M-Pesa.
How to Set Up M-Pesa-PayPal Account
First, you need to have an active PayPal account. With this account, you need to visit paypal-mobilemoney.com/m-pesa and log in to the platform. The last step is to agree to the terms and conditions of the platform and also add your M-Pesa phone number.
How to Deposit Money to PayPal Using M-Pesa
On paypal-mobilemoney.com/m-pesa, visit the Top Up section and enter the amount you wish to load in U.S. Dollars. You then need to click the Calculate button to get the amount in Kenya Shillings. This is the amount you need to send from M-Pesa.
The next step is to go to your M-Pesa menu and select the Pay Bill option under Lipa na M-Pesa section. On the Pay Bill section, enter Business Number (800088) and proceed to enter your Account Number (your phone number). Finally, enter your M-Pesa PIN and press the Send button.
Important Things to Note for the M-Pesa-PayPal Service
One of the things is cost. The service charges 4% conversion fee and there is also an M-Pesa Pay Bill fee. Another important thing is processing time which is up to 4 hours. Other things include exchange rate which is based on the world’s money markets, and also transaction limits which are KSh. 70,000 per transaction and KSh. 140,000 per day.
In conclusion, Safaricom aims to make the M-Pesa-PayPal service quicker and also more secure. As you can see, the process is short, and since M-Pesa and PayPal are reputable platforms, you can be assured of a secure process and also great customer service.
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