Equity Bank Kenya customers will now be able to access PayPal services on the lender’s mobile application and online banking platform, in a move to boost efficiency.
Shifting the service from the web-based portal will allow customers to enjoy seamless PayPal account linking and withdrawal service globally as the bank eyes higher revenue through commissions charged on such transactions .
This is part of onboarding the process for customers’ PayPal accounts, which makes it geographically scalable and featuring additional services to fit diverse customer needs.
“From the Equity Mobile App or Equity Online, customers can easily connect to the PayPal withdrawal service by linking their PayPal account to their bank account,” said Equity Bank Kenya managing director Gerald Warui.
The upgraded PayPal service comes at a time the country is pushing for accelerated uptake of e-commerce and the adoption of digital payment models.
Over the recent past, Kenya, just like the rest of the world has witnessed more online marketplaces for short-term and freelance jobs developing rapidly.
Ability to access financial services, digital payment channels and digital infrastructure have been cited as the most important e-commerce enablers.
“PayPal account holders can now easily access their withdrawal services through their Equity Bank Mobile App and Equity Online,” said PayPal’s sales development director for Africa Mark Mwongela.
He said PayPal will enable individuals and business to get paid from over 200 market across the world which goes to support the growth of local small and medium enterprises.
