Equity Bank teams up with PayPal

Monday 28 October 2013 09:24 CET | News

Financial services provider Equity Bank has teamed up with PayPal to enable Kenya’s merchants to sell to PayPal’s customer base and move the proceeds to their Equity Bank accounts.

Under the agreement, the service enables PayPal users to withdraw funds to their Equity Bank accounts from their PayPal accounts.

For the Paypal withdrawal service, customers are required to open a PayPal account and link it to their Equity Bank account. Customers are set to receive PayPal payments in 26 different currencies. Also, Equity Bank is set to convert the currency to KES when the money is transferred into their accounts.

The PayPal service has received approval from the Central Bank of Kenya.

In July 2013, Equity Bank entered an agreement with South African financial services provider First National Bank (FNB) to offer cash transfer from PayPal to bank accounts.

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Keywords: Equity Bank, PayPal, online payments, Kenya, link bank account to PayPal
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce