Safaricom has added PayPal withdrawals to the M-PESA super app, making it easier for Kenyan users, particularly freelancers and remote workers, to access funds earned abroad. The move aims to capture a larger share of Kenya’s fast-growing digital freelance economy, where many rely on PayPal to receive payments from international clients.
The new feature, introduced as a mini app within M-PESA, eliminates the need to use a separate web portal to transfer PayPal funds, a process long criticized for delays and clunky user experience. This marks the first time users can withdraw directly from PayPal via the app, bypassing multiple logins and browser redirects.
The feature complements Equity Bank’s PayPal withdrawal service, Kenya’s only instant bank-linked option. With M-PESA’s transaction volumes and user engagement at all-time highs, Safaricom is doubling down on embedding financial tools that deepen user stickiness and expand revenue from its mobile money platform.
The update comes as M-PESA’s role in Safaricom’s business expands. Mobile money revenue for the company rose 15.2% year-on-year to KES 161.1 billion ($1.25 billion) in the year ended March 2025, according to Safaricom’s financial statements. That growth was driven by a 20.3% rise in chargeable transactions per active user, now at 37.92 monthly, and a 10.5% increase in one-month active customers, which reached 35.82 million.
Average revenue per M-PESA user grew 9.4% to KES 395.22 ($3.06), while the number of agents in the network rose 14.1% to nearly 299,000, helping Safaricom sustain broad physical access to cash-in and cash-out services.
The M-PESA app has been downloaded 13.7 million times and now supports 4.7 million customers. In 2024, Safaricom processed KES 2.3 trillion ($17.83 billion) through the app.
M-PESA wallets support balances of up to KES 500,000 ($3,875), with a single transaction cap of KSh 250,000 ($1,938) and a daily transaction limit set at KES 500,000.
While Equity Bank remains the go-to option for larger PayPal withdrawals—supporting up to $10,000 per transaction—the app-based route offers a faster, bank-free alternative for users moving smaller sums or seeking more direct control.
Kenyan users have also turned to alternatives like Wise and Payoneer to receive international payments, citing better FX rates and fewer restrictions. Still, PayPal remains a dominant channel, and integrating it into the M-PESA app could help Safaricom lock in more transaction volume and deepen user engagement at a time when the mobile money market is shifting.
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