Payment engines M-PESA and Paypal have unveiled a joint push to enable seamless linking and ease of funds transfer across their networks.

In a joint statement, the Safaricom PLC and PayPal said the initiative seeks to offer more opportunities for over 35 million M-PESA customers and two million businesses and micro lenders in Kenya to access PayPal's international network.

With this collaboration, users will be in a position to transfer money from their PayPal accounts into their M-PESA wallets and vice versa. PayPal global payment processor with over 400 million active PayPal accounts operating in 200 markets.

At the moment, Safaricom will be rolling out this service to its customers in Kenya with plans to extend it to other markets.

“Our partnership with PayPal is a bold step forward in enabling seamless, worry-free, safe, secure, and inclusive digital payments. This collaboration empowers over 35 million customers and two million businesses and micro-entrepreneurs across Kenya to participate in the global digital economy by conveniently sending and receiving payments across more than 200 markets," said Esther Waititu, Chief Financial Services Officer, Safaricom PLC. 

She added: "It’s part of our commitment to unlocking opportunities and transforming lives through the power of M-PESA,"

Otto Williams, Regional Head and General Manager for the Middle East and Africa, PayPal, stated, “building seamless connections between the global economy and local financial ecosystems is crucial to expanding digital financial inclusion. We are thrilled to enable millions of M-PESA’s customers across Africa connect more easily to PayPal’s international customer base.”

For 18 years, M-PESA has driven financial inclusion and bridged the digital divide. Recently, through Ziidi MMF, customers can invest from as little as KES100, promoting a culture of saving among subscribers.

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