Video Interview With PayPal Africa’s Malvina Goldfeld On Their Progress In Kenya
This is a really overdue blog post in that I had this video interview over two months ago? However, when I had a chance this weekend to look it over again I realised that the content was still largely relevant and current so I decided to post it here today. I met Malvina Goldfeld who is PayPal’s Head of Business Development for Africa and we had an opportunity to discuss PayPal’s progress in Kenya since they launched with Equity Bank in July 2014 (which I wrote about here).
PayPal’s strategic partnership with Equity Bank in Kenya enables them to extend their services to individuals and businesses who can then use their bank accounts to make and receive payments globally. To get a sense of just how large PayPal is, consider that they have 157 million accounts, transact US$10 million daily, are available in 203 markets and can make payments in 100 currencies. There is no doubt that PayPal is a behemoth and therefore its great that can use them in Kenya for the past year on a local basis.
As far as Kenya is concerned, Malvina did not give me any specific metrics on their progress to-date but she did disclose that freelancers and tourism businesses form their most active market segments. In both of these areas, their ‘merchants’ use PayPal to mostly receive payments from their global customers. This seems to be the most prevalent use-case at this time but naturally many other customers also use PayPal to make secure online payments. Anyway, you can watch the full video interview as below to get all the details we covered on PayPal in Kenya: