Equity Bank has migrated its PayPal withdrawal service from the previous web-based portal to Equity Mobile App and Equity Online, Equity’s internet banking platform.
This shift is expected to boost efficiency for Kenyans who receive payments through the international payment solutions provider.
The move is expected to streamline the onboarding process for customers’ PayPal accounts and is now geographically scalable with additional services creating an enhanced experience to fit the diverse customer needs.
Equity Bank, which currently offers the only 24 hours bank withdrawal service in the country enables PayPal account holders to withdraw funds paid from their registered PayPal accounts straight to their Equity Bank accounts in either KES or USD.
“Equity continues to implement its innovation and digitization strategy in line with the ONE Equity offering which aims to streamline customer experience in centralized platforms to ease access of services at their convenience,” said Equity Bank Kenya Managing Director Gerald Warui.
From the Equity Mobile App or Equity Online, customers will be able to easily connect to the PayPal withdrawal service by linking their PayPal account to their Bank account. The customer can after that initiate a PayPal withdrawal to their Equity Bank account. This is a significant move as Kenya gears towards accelerating the uptake of e-commerce and the adoption of digital payment models such as direct payments into their Equity accounts through PayPal.
Speaking on behalf of PayPal, Mark Mwongela, PayPal’s Sales Development Director, Africa said, “As PayPal, we are delighted to deepen our partnership with Equity to offer our customers an enhanced service. Whether you are an individual or a business, PayPal will enable you to get paid from over 200 markets. “
This development eases the customer journey making it quick access to funds for businesses. Freelance writers, Kenyans with families abroad, those in the creative industry and MSMEs involved in cross-border trade are expected to benefit from this service.