• About
  • Advertise
  • Careers
  • Contact Us
Saturday, June 21, 2025
  • Login
No Result
View All Result
NEWSLETTER
Tech | Business | Economy
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
    • Mobility
    • Environment
    • Travel
    • StartUPs
      • Chidiverse
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • EventDIARY
    • Editorial
    • Appointment
  • TECHECONOMY TV
  • Apply
  • TBS
  • BusinesSENSE For SMEs
  • Chidiverse
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
ADVERTISEMENT
Home Economy Finance

Kenya: Equity Bank reduces period for Paypal withdrawal from 3 days to 24 hours

by Joan Aimuengheuwa
January 14, 2022
in Finance
0
UBA
Advertisements

Equity Bank has announced a reduction in the duration it takes to settle PayPal withdrawals from 3 business days to just 24 hours or one business day.

Being the only Kenyan bank offering PayPal withdrawal services, Equity Bank will now offer the fastest PayPal settlement period in the country, enhancing efficiency for the increasing number of Kenyans who receive payment through the international payment solutions provider.

Equity Bank enables PayPal account holders to withdraw funds paid from their registered PayPal accounts straight to their Equity Bank accounts in either KES or USD, excluding credit card accounts.

Commenting on the new development, Gerald Warui, managing director, Equity Bank Kenya said the reduction in the settlement period is of great significance as the country moves towards growing the uptake of e-commerce.

“COVID-19 has forced many MSMEs to adopt a digital operating model including the adoption of cash lite payment models such as direct payments into their Equity accounts through PayPal.” 

With this, he explained that the reduced settlement period will allow businesses to effectively receive payments, enabling them to manage their cash flows and accelerate the growth of their businesses.

Tahir Emrah Tuzun, PayPal’s head of sales and market development, Middle East and Africa said, PayPal is happy to enhance its relationship with Equity for the better good of its customers. “Whether you are an individual or a business, PayPal will enable you to get paid from over 200 countries and markets,” he said. 

“PayPal account holders can now easily access their balances by withdrawing to their Equity Bank account. The significant reduction in settlement time simply means quicker access to funds for businesses reinforcing our commitment to supporting the growth of local MSMEs,” Tuzun reiterated.

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 with both PayPal and Equity charging minimal processing fees.

The reduction in PayPal’s settlement period complements Equity’s digital banking solutions aimed at increasing customers’ ease of accessing and managing their accounts through platforms such as *247#, Equity Mobile, Equity Online and Equitel lines.

Loading

Advertisements
MTN ADS

Author

  • Joan Aimuengheuwa
    Joan Aimuengheuwa

    Joan thrives at helping individuals and businesses scale via storytelling...

    View all posts
0Shares
Tags: Equity Bank KenyaGerald WaruiPaypal
Joan Aimuengheuwa

Joan Aimuengheuwa

Joan thrives at helping individuals and businesses scale via storytelling...

Next Post

Nigerian healthcare providers still use medical equipment with legacy Operating Systems

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Recommended

AF-CIX and IXPs

AF-CIX Throws its Weight Behind the 2023 ngPIF

2 years ago
Papyrus to Boost more Businesses with Digital Solutions as it Expands FieldMaxPro to Ghana

Papyrus to Boost more Businesses with Digital Solutions as it Expands FieldMaxPro to Ghana

2 years ago

Popular News

    Connect with us

    • About
    • Advertise
    • Careers
    • Contact Us

    © 2025 TECHECONOMY.

    No Result
    View All Result
    • News
    • Tech
      • DisruptiveTECH
      • ConsumerTech
      • How To
      • TechTAINMENT
    • Business
      • Telecoms
      • Mobility
      • Environment
      • Travel
      • StartUPs
        • Chidiverse
      • TE Insights
      • Security
    • Partners
    • Economy
      • Finance
      • Fintech
      • Digital Assets
      • Personal Finance
      • Insurance
    • Features
      • IndustryINFLUENCERS
      • Guest Writer
      • EventDIARY
      • Editorial
      • Appointment
    • TECHECONOMY TV
    • Apply
    • TBS
    • BusinesSENSE For SMEs

    © 2025 TECHECONOMY.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In
    Translate »
    This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.