Safaricom and PayPal Partner to Link M-PESA with Global Payments Network
The collaboration represents a broader trend of fintech interoperability, aiming to combine services to create a more comprehensive digital financial ecosystem.
Safaricom has partnered with PayPal to integrate M-PESA mobile money services with PayPal’s global payment network, a move set to benefit over 35 million M-PESA customers and two million businesses and micro-traders in Kenya.
The initiative allows users to link their PayPal and M-PESA wallets, enabling seamless transfers between the two platforms. This interoperability will facilitate easier cross-border transactions, supporting both personal remittances and business payments.
Initially available only to Safaricom M-PESA customers in Kenya, the service is expected to be extended to other markets where M-PESA operates in the near future.
“As globalization and digitization continue to reshape how people and businesses connect, our partnership with PayPal is a bold step forward in enabling seamless, worry-free, safe, secure, and inclusive digital payments. It’s part of our commitment to unlocking opportunities and transforming lives through the power of M-PESA.”
–Esther Waititu, Chief Financial Services Officer, Safaricom.
“It’s part of our commitment to unlocking opportunities and transforming lives through the power of M-PESA. We are thrilled to enable millions of M-PESA’s customers across Africa connect more easily to PayPal’s international customer base.”
–Otto Williams, Regional Head and General Manager for the Middle East and Africa, PayPal.
This development also aligns with the growth of the gig economy in Africa, where more individuals are providing online services to global clients. The collaboration represents a broader trend of fintech interoperability, aiming to combine services to create a more comprehensive digital financial ecosystem.
Globally, PayPal serves over 400 million active accounts across 200 markets, while M-PESA remains Africa’s leading mobile money platform, linking more than 50 million customers and two million businesses, with daily transactions exceeding $1.1 billion.
Meanwhile, in Ghana, discussions are underway between the government and the Bank of Ghana to restore PayPal access after years of restrictions stemming from platform misuse concerns. If approved, this would open opportunities for collaboration between PayPal and local payment service providers to reintroduce the platform responsibly.
