Equity Bank partners with PayPal to boost eCommerce in Kenya

The Standard Digital Reporter

PayPal users in Kenya can now to withdraw funds to their Equity Bank accounts from their PayPal accounts.

This is after Equity Bank and PayPal announced on Friday that merchants in Kenya can now sell to PayPal’s global customer base of more than 137 million active accounts in 193 markets around the world.

Proceeds from such transactions can then be moved to users Equity Bank accounts.

“PayPal is trusted throughout the world to enable millions of consumers to shop safely and conveniently online and through their mobile phone each day. We are pleased to make this announcement as Kenyans will be able now to join the global eCommerce marketplace. This initiative with PayPal is part of our commitment to harness technology and strategic partnerships in ensuring that our customers continue to enjoy the freedom of modern banking”, said Dr. James Mwangi, Equity Bank’s Chief Executive Officer.

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

To enjoy the PayPal withdrawal service, one will be required to simply 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 Shilling when the money is transferred into their accounts.