When I joined the freelance industry, I knew very little if anything about how to get paid. If I knew about any online payment platforms, maybe two. Over time, I have come to realize that there are numerous payment platforms that anyone providing services or selling services can use. There are many payment gateways as there are legit online businesses.
One advantage of these payment gateways is their coverage.
Most cover almost all countries across the globe. You can be in Kenya and pay
for goods or services in any part of the world. Some reign supreme due to
reliability in transfers and affordable rates.
Reliable Online Payment Platforms in Kenya
|
Online Payment Platforms |
Rate to Transfer to Local Bank or M-Pesa |
Transfer Maturity Period |
Minimum Transfer |
Maximum Transfer |
|
Payoneer |
No charges incurred for local bank transfer |
2 to 5 business days |
$20 to other users $50 to local bank |
$1000 |
|
PayPal |
Free transfer from PayPal Account to bank account. |
3 to 5 business days |
$1 |
$10000 per transaction |
|
Skrill |
Around 3% of the total amount |
2 to 5 business days |
N/A |
Up to $25000 monthly depending on account verification |
|
Neteller |
2.99% of the amount transferred |
1 to 6 hours |
$0.5 |
$50000 |
|
LocalBitcoins |
0.00013997 BTC |
10 to 60 minutes |
0.00000001 BTC |
N/A |
|
Escrow Kenya |
Kshs. 200 for General Merchandise. Kshs, 1500 for
vehicles. |
Depending on shipping duration |
N/A |
N/A |
|
Trasferwise |
For $300 and below, you are charged $3. |
Up to 2 business days |
No Minimum |
No maximum for bank transfer. Limit for Mpesa |
|
Pesapal |
3.5% per online payment transaction and for point of sale
is 2.9%. |
3 business days |
Kshs. 1000 |
Kshs. 70000 |
|
iPay |
Free up to 15 transactions. More than 15 transactions
monthly charges you $5.95. |
1 business day |
$1 |
$10000 |
|
Dusu Pay |
Free for less than 50 transactions per month |
Up to 3 business days |
$2 |
$6000 |
List of Payment Gateways in Kenya
1. Payoneer
Payoneer ranks among the best ways to make payments across
the globe in the comfort of your home. It was launched in 2005 and has managed
to capture a sizeable portion of the market. The best thing about it, you can
make direct payments to other users without involving a third-party entity such
as a bank.
Once you sign up for Payoneer, you get a MasterCard debit
card. You can use it to withdraw funds from any ATM across the world that
accepts MasterCard. To sign up, use this link to get a $25 bonus once you hit $1,000 in
cumulative transactions. Remember, you need a copy of your valid identification
documents to complete the registration process.
The least you can transact on Payoneer is $20, and the
maximum is $2500 per day. However, the minimum you can transfer to your bank is
$50. Transfer of any amount to your bank is free and the exchange rate is
attractive. The transfer maturity period is 2 to 5 business days
internationally.
2. PayPal
In the world of online transactions, PayPal dominates as one
of the best and most reliable. This online payment platform has millions of
users from across the world, both individuals and businesses. It has years of
existence in the industry, always striving to provide its customers with the
best. The platform also supports M-Pesa transfer services.
All transactions through PayPal are secure, and you are kept
aware of any suspicious activities in your account. Setting up a PayPal account
is easy, only taking a few minutes to complete. Once that is done, you must
verify the account by using a bank account or credit card. Then you can start
transacting, making payments, and transferring funds to anywhere in the world.
PayPal boasts some of the fastest transfers of any other
payment platform globally. For this, they control a good chunk of the market in
regards to online transactions. The fact that you get faster checkouts by not
retyping your financial details with every payment is a plus.
PayPal offers free transfer from your PayPal account to your bank
account. On the other hand, they take 2.9% from each payment transaction and
30cts more from the same. Wait for 3 to 5 business days for transfers to
reflect in your account. The least you can transfer with PayPal is $1, and the
maximum is $10000 per transaction.
3. Skrill
Skrill works with a wide variety of currencies hence its
popularity worldwide. You can use it to send money faster and securely. The
money can be to another person’s bank account or mobile wallet or your own. You
can use Skrill from anywhere in the world, and setting up an account is easy.
The service has been available since 2001 and is part of the PaySafe Group.
Once you set up a Skrill account, you get a Skrill wallet
that you can use to keep funds. The online payment platform is quite affordable
with swift and secure transfers. You can send money to any person, only needing
their name, address, and account information. Transfer maturity when you send
money by bank transfer is 2 to 5 business days. Sending money abroad is Free.
Domestic transfers incur a fee of 2% of the total amount. Some banks impose
additional fees for using Skrill.
Skrill supports M-Pesa transfer. You should make sure the
details match.
4. Neteller
Neteller is a widely used service to transfer money online.
Using a Net+ card, you can withdraw the funds in your account. Another option
is to transfer the funds to your bank account. Like Skrill, it’s part of the
PaySafe Group that specializes in online payment platforms. M-Pesa transfer
from Neteller is also instant.
Neteller charges its customers a fee of 2.99% for money
transfer using its system. The minimum amount transferable is $0.50, and the
maximum is $50,000. Enjoy fast transfers with this service lasting only 1 to 6
hours max.
5. LocalBitcoin
Cryptocurrencies such as Bitcoins are common in online
transactions, with many more people embracing them. You can make payments or
send funds to another in the form of Bitcoins. Many more businesses are
accepting payments from their customers by using this form of cryptocurrency.
You can sell or buy Bitcoins using your M-Pesa. That makes
the platform compatible with mobile money transfers.
LocalBitcoin originates from Finland and acts as a market
for Bitcoin traders. You can purchase Bitcoins that are deposited into your
LocalBitcoin wallet. After the purchase, send the Bitcoins from your address to
another easily. LocalBitcoin charges 0.00013997 BTC to transfer Bitcoins from
one address to another. The transfer takes only 10 to 60 minutes to reflect.
The least amount you can send is 0.00000001 BTC, and there is no maximum.
6. Escrow Kenya
Escrow Kenya comes in handy while transacting online. When
you sign up for escrow, the payment gateway comes in between you and the
seller. It’s the best way for both to have peace of mind knowing funds won’t be
lost. Once you agree on all the terms with the seller, you deposit funds into
Escrow Kenya, who verify the transfer.
Once it’s complete, the seller ships the goods, and Escrow
Kenya ensures the buyer receives them. After checking if they are the right
order and in good condition, the buyer gives a go-ahead for the money to be
sent to the seller.
Escrow Kenya charges a different amount depending on the
item bought. You pay 3% of the purchase price with a minimum fee of Kshs. 200,
and the maximum is Kshs. 15000 for General merchandise. Car fees is 1.5% with a
minimum fee of Kshs. 1500 and maximum Kshs. 15000. Transfer duration depends on
how long the item delivery takes.
7. Trasferwise
Trasferwise is another reliable online payment service that
you can use in Kenya. The advantage it has over many others is it supports more
than 700 currencies from across the world. The official site has 10 versions to
choose from when logging into your account. in Kenya, Trasferwise makes it easy
to transfer funds to individuals or bank accounts.
Another option is to send it to the Mpesa wallet. If you are sending it to
the bank, there is no applicable limit, but for Mpesa, there is a limit to keep
in mind. Transfer made can take up to 2 business days to complete. Fees vary
depending on the amount you transfer. For $300 and below, you are charged $3.
For more than $300, the charge varies.
8. PesaPal
With PesaPal, you can make payments using several methods,
including mobile banking, bank cards, and mobile wallets. It guarantees
bank-level security for all transfers made, making it a reliable payment
service provider. Some online shopping malls also support PesaPal as a mode of
payment.
In Kenya, it’s one of the most widely used systems by over
500 hotels. It makes it easy to place online bookings without incurring extra
costs. You pay 3.5% per online payment transaction, and for point of sale is
2.9%. Transactions reflect after 3 business days
9. iPay
With iPay, you can use several mobile wallets, including
Airtel Money, Mpesa, and Equitel. Apart from that, you can also use MasterCard
or Visa. The method is simple to sign up and receive payments as a seller.
It’s free to set up, and payments reflect instantly. Using
iPay to transact is free up to 15 transactions. More than 15 transactions
monthly charge you $5.95. It takes 1 business day to complete a transaction
with iPay.
10. DusuPay
For straightforward transactions with a service provider,
you can trust, opt to use DusuPay. It’s taken up a huge chunk of the African
market and is used by many companies. With less than 50 transactions per month,
you are not charged any fee.
Over 50 transactions, you require a standard package that
costs £9.99 and an Enterprise package costing £29.99. In Kenya, transactions
are mainly through Mpesa, and you can incur additional charges. Transactions
take up to 3 business days to reflect.
These are among the best online payment platforms in Kenya. Opt for any of them when making online transfers or payments for goods and services.
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