Equity Bank has enhanced its PayPal withdrawal service by migrating it from the previous web-based portal to Equity mobile app and Equity online (Equity’s internet banking platform). This shift will boost efficiency for Kenyans who receive payments through the international payment solutions provider.
Customers will now enjoy seamless PayPal account linking and withdrawal service alongside other numerous bank services on Equity online and mobile app. The move streamlines the onboarding process for customers’ PayPal accounts. It 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 accounts straight to the bank’s accounts in either Kenya shillings or US Dollars.
Speaking on the upgraded PayPal service, Equity Bank Kenya Managing Director Gerald Warui said: “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. From the Equity mobile app or Equity online, customers can easily connect to the PayPal withdrawal service by linking their PayPal account to the one of the bank. The customer can thereafter 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, the firm’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 two hundred markets. PayPal account holders can now easily access their withdrawal services through their Equity Bank mobile app and Equity online. This significant development eases the customer journey making it quicker to access funds for businesses and hence reinforcing our commitment to supporting the growth of local micro, small and medium enterprises (MSMEs).
Freelance writers, Kenyans with families abroad, those in the creative industry and MSMEs involved in cross border trade among others are expected to benefit from this service.