Kenya’s Chura, which began as an Airtime for Cash Service then launched PayPal to M-Pesa withdrawals has finally introduced instant M-Pesa to PayPal transfer services to help SMEs and startups do business online conveniently.
Chura which is working on other products such as virtual card and international remittances aim to help SMEs and startups who majorly buy and sell stuff online or pay for outsourced services without bothering others who have PayPal balances to lend them or relying on clunky bank systems to deposit money into their debit cards-some of them which need strict authorization by issuing banks to do online transactions.
To top-up one’s PayPal account one only needs to sign up on the platform, fill in a simple form, have money into the M-Pesa mobile wallet then transfer the cash to PayPal instantly. Currently their exchange rate is 1 USD=103.31KSH.
“‘You will need to send KES: 103.31 to fund your PayPal with $1. You just cue in your PayPal email and phone number to log in the platform with PayPal then transfer money in 3 easy steps, fast, securely and efficiently,” says the firm.
Chura says that its systems are protected with industry leading security standards to keep all your transactions safe and the firm is always there to help 24/7 with 100% money back guarantee. Chura users can also buy airtime, do mass airtime top-ups, send PayPal to M-Pesa and now M-Pesa to PayPal. The firm promises that Chura Virtual Card and Chura Remit are coming soon.
“We plan on rolling out our USSD platform to facilitate easy and free access to our services and also introduce a mobile app for the smart phone market for a better experience for our users,” said Stephanie Gaku, a co-founder earlier told TechMoran. “We are also looking to replicate our service in other Multi-SIM markets in the region and we are also on track to launch some new products and services.”
Launched on 1st December 2013 in Nairobi-Kenya, by a group of friends, Samuel Njuguna, Stephanie Gaku, Njogu Kinyanjui, Jack Kinga and Byron Sitawa all alumina of the University of Nairobi, Chura.co.ke‘s main competitors are retail airtime vendors, mobile Service providers, Equity Bank and International money remittance services when they launch Chura Remit.