Connect with us

Hi, what are you looking for?

Capital Business
Capital Business
“The exclusive withdraw service with PayPal allows Kenyans to make payments and receive money internationally without sharing their financial or personal information” adds Mwangi/CFM

Kenya

Equity, PayPal in payments pact

“The exclusive withdraw service with PayPal allows Kenyans to make payments and receive money internationally without sharing their financial or personal information” adds Mwangi/CFM

“The exclusive withdraw service with PayPal allows Kenyans to make payments and receive money internationally without sharing their financial or personal information” adds Mwangi/CFM

NAIROBI, Kenya, Oct 25 – Payment service company PayPal, has partnered with Equity Bank for traders in Kenya to access PayPal’s global customer base, of more than 137 million active accounts in 193 markets.

PayPal is a global e-commerce company that allows payments and money transfers to be made via the Internet.

The new partnership allows traders to withdraw funds to their qualifying Equity Bank accounts from their PayPal accounts.

To enjoy the PayPal withdrawal service, one will be required to open a PayPal account and link it to their Equity Bank account and receive PayPal payments in 26 different currencies.

Equity Bank will convert the currency to Kenyan shillings when the money is transferred into their accounts.

Equity Bank’s CEO James Mwangi said the exclusive withdraw service with PayPal will allow Kenyans to make payments and receive money internationally without sharing their financial or personal information.

“PayPal is trusted throughout the world to enable millions of consumers to shop safely and conveniently online and through their mobile phone each day,” Mwangi said.

“Equity and PayPal have a similar focus on innovation, and this strategic partnership is a major milestone on our exciting journey in Sub-Saharan Africa to enable e-commerce across the region and integrate it into the global marketplace,” PayPal’s Regional Director for Africa and Israel, Efi Dahan noted.

The partnership has received approval from the Central Bank of Kenya.

Advertisement. Scroll to continue reading.
Click to comment
Advertisement

More on Capital Business

Executive Lifestyle

NAIROBI, Kenya, Mar 12 – The country’s super wealthy individuals are increasing their holding of bonds, gold and cash, a new report by Knight...

Ask Kirubi

NAIROBI, Kenya, Mar 9 – Businessman and industrialist Dr. Chris Kirubi has urged members of the public to exercise extreme caution when making any...

Ask Kirubi

NAIROBI, Kenya, Mar 24 – Businessman and industrialist Dr. Chris Kirubi is set to own half of Centum Investment Company PLC, following a go-ahead...

Ask Kirubi

It is without a doubt that the COVID-19 pandemic has caught the whole world by surprise. Although its full impact is yet to be...

Headlines

NAIROBI, Kenya, Mar 18 – Commercial Banks have been ordered to provide relief to borrowers on their personal loans, with loans eligible from March...

Kenya

NAIROBI, Kenya, Jun17 – Kenya’s tea leaves manufacturer Kericho Gold, has been awarded the Superbrands Seal by Superbrands East Africa for their quality variety...

Coronavirus

NAIROBI, Kenya, Apr 13 – As the local telecommunications industry gears up to roll out 5G networks in the country, the Communications Authority of...

Coronavirus

NAIROBI, Kenya, Mar 22 – Airtel Kenya is offering free internet access for students in order to enable continued learning at home in the...