The recent successful Paypal to M-pesa collaboration was received with all smiles by Kenyan digital entrepreneurs. These include freelance writers, Marketing exerts, E commerce users, Forex traders and other members of the online workers who receive money using Paypal.
Despite this new move being locally available, not many have been able to enjoy the service due to some shortcomings. After making our 1st post while breaking the good news we have received lots of queries on our mail box. This post uncovers some of the most relevant about the Paypal-Mpesa deal.
There are several reasons why you may not be able to access this service as per now.
1. Many people are trying to link their Paypal to M-pesa resulting to a system hitch.
2. The number you are adding on Paypal is already on another account
Does your number and Paypal details have to match ?
I have heard many people claim that this is a must, however this is not true. However, in my case I have successfully matched my Paypal to my M-pesa Number despite the two having COMPLETELY DIFFERENT names.
I have also been able to withdrawal twice through this process with no difficulties.
Addressing the errors while linking/withdrawing from Paypal to M-pesa
In case you experience a common error message like the one below and money has already been deducted from your Paypal having received the Safaricom waiting message, you may have to wait for 2hrs and before trying again if transaction has not yet settled in your M-pesa. You may also try logging out and try later if the withdrawal was not successful and paypal balance is still the same.
The last option is using the contact us section on your paypal account. On the message box type your challenges and wait for resolution from the paypal team.
Paypal-Mpesa Vs Paypal-Equity.
In choosing either of the two methods, each has its pros and cons.
I would choose Paypal-Mpesa because the following:
Transaction is Super Fast! It only takes 2hrs for transaction to mature. I have tried the service and in a record of 2hrs my M-pesa was loaded. Having tried with only some small amount Max of 100$, I am not sure about the large transactions.
Convenient in urgent cases. You don’t need to wait for 3 days or use the Paypal-Mpesa agents anymore while you can do it for yourself anytime you are stuck. Either while travelling, when you need to sort urgent medical bill, rent , Fuel. You are sorted in the nearest time possible.
This method may disappoint you for large transactions. The max Limit for 1 Mpesa transaction is 70,000Ksh and Maximum Mpesa can hold is 100,000. In this case you may have to do lots of maths before settling to use this method.
Overall transaction rate
Below are screenshots of my latest transaction worth 58$ using the two methods.
With M-pesa, (which I preferred) I received KSh 5682.00 I would get KSh 5595.88 for the same transaction If I used Paypal-Equity I would receive KSh 86.12 less than what I got mind you having waited for 3 business days.
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Alright! Lets see the Waiting time 🙂
Transaction Started 8:06 AM
Transaction Completed 10:12 Am
Kenyans don’t like waiting, who doesn’t want that 500$ on his paypal to reflect on his/her Mpesa in a record time of 2hrs? Despite the charges that may come with lumpsome amounts Ill still be “spoiling” my Mpesa with from Paypal Account.
Information offered on this post is from personal opinion and and experience.
I hope this post was of great help to you, Good luck!