Tuesday, July 5, 2011

How to Withdraw From PayPal in Kenya

The e-commerce market in Kenya is changing and drawing a lot of attention from investors across the world. PayPal in Kenya is a segment drawing interest in the Kenyan online market in an unprecedented pace. PayPal working in Kenya is not the only big news in the e-commerce sector of the East Africa nation, already facing wheels of change in the political, judiciary and legislative arms of government after the passage of a new constitution. The bold step has assured many investors of continuous growth and security of their investment.

There was a lot of hype after PayPal had upgraded Kenyan accounts from simple accounts that could only send and not receive/request money or payment to full operational accounts that offer not only a chance to withdrawal, but send, receive and request money by sending an invoice. However, there was a catch after the unprecedented move by PayPal; Kenyan accounts are yet to withdraw to local Kenyan banks, seemingly due to an absence of PayPal-Kenyan Banks agreement. However, the fact that PayPal in Kenya is allowing local businesspersons to receive payment and to transact online has not deterred the creative minded Kenyans from finding ways of making PayPal Kenya work for them. Kenyans are replacing the Indian and Eastern Asian nations as the number one destinations for International businesses and individuals seeking quality-outsourcing services.

 Companies in search of better places of investment are already pitching tents in the East African financial hub. For instance, Bidorbuy is already in Kenya, bringing its South African expertise in online-based marketplace in the growing economy. With just its initial launch, it started with a minimum of 18,000 products, offering them in its strategic initiative in furthering its huge growth across the African continent. A lot is happening in Kenya, right from massive Tea branding initiatives used in the promotion and identification of Kenyan Tea in International Local markets to shifting of focus as the choice HQ in Africa of banking institutions such as Standard Chattered.

Kenyans working online and paid via PayPal have different ways of accessing their money as they wait for the number one world online payment method to warm up to the Kenyan financial market. Currently, one can only withdraw in US Bank account, something that hardly makes sense to many in Kenya. However, PayPal in Kenya can be accessed via different means such as through Epay-KenyaEpay is currently the number one choice since it works for ALL Kenyans and even for anyone in the Diaspora, since they have a foolproof way of withdrawal right into a mobile phone in Kenya via the growing Mobile Money Transfer (M-Pesa, Airtel Money and Orange Money) across the major mobile service providers, Safaricom, Airtel and Orange respectively.

If one wants to withdraw about 100 dollars, through the Epay system, the total amount received via M-Pesa is around Ksh.6804 as per the current exchange rate. However, it is important to contact Epay-Kenya for the right procedure that works within minutes.

Apart from PayPal, Epay-Kenya works for Money Bookers and Alert Pay as well, for those who would like to receive their money within minutes and at an affordable rate. 

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