JUST IN: PayPal Can Send Money Directly Into Ecocash
EcoCash, Zimbabwe’s largest mobile phone-based money transfer, financing and microfinancing service, has announced that PayPal can send money directly into an EcoCash account, Pindula News can reveal.
PayPal Holdings, Inc. is an American multinational financial technology company operating an online payments system that serves as an electronic alternative to traditional paper methods such as checks and money orders. The company operates as a payment processor for online vendors, auction sites and many other commercial users, for which it charges a fee.
It has been impossible in the past for individuals based in Zimbabwe to receive money via PayPal
In 2021, Techzim reported, however, that there were changes suggesting that one can receive funds in a PayPal merchant wallet in Zim. Read part of the article:
You can still open a PayPal account in Zim and use it to make payments if it is linked to your USD card, most often it’s a prepaid card. However, it looks like there is a “loophole” for Zim accounts to receive funds via a PayPal wallet and it’s through opening a Merchant PayPal account.
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The latest development would be great news for those who want to receive their money from abroad. EcoCash stated that “you cannot send money to PayPal.”
EcoCash says one can make online transactions using VCN if they fund their FCA accounts.
To start sending money from PayPal to EcoCash, one needs to create a PayPal account and select mobile pick up when sending funds so that the funds are credited into the recipient’s FCA wallet. The recipient is able to cash out USD at Econet Shops.
