Tag Archive for: M-PESA

Safaricom has announced a Lipa Na M-PESA Business smartphone app for the more than 170,000 merchants on the service.

Named “M-PESA for Business“, it will empower business owners to access real-time statements, export statements, and track their business performance on the go.

Through the app, business owners can further withdraw funds from Lipa Na M-PESA to their M-PESA accounts, bank accounts or at an agent. Business owners with a business till can now also send money to other M-PESA customers such as to pay wages, pay for supplies, and make payments to other businesses all through the app.

“At Safaricom, we are taking a focus on the needs of small and medium businesses to provide them with suitable technology solutions to help them grow. The M-PESA for Business smartphone App is one such solution. It empowers more than 170,000 businesses across Kenya to send money and make payments and provides them with simple and detailed reports from the convenience of the mobile phone,” said Peter Ndegwa, CEO, Safaricom.

In addition to making transactions from their Lipa Na M-PESA tills, the app will offer additional management features such as an overview of different tills for business owners with multiple outlets and till usage management. The app is also packed with rich, detailed reports including money-in and money-out charts, store overview and frequently used Lipa Na M-PESA Tills and PayBills.

The “M-PESA for Business” App is immediately available from the Android Google Play store and the iOS App store and complements the *234# menu which has been providing Lipa Na M-PESA merchants with the ability to manage their till and to make transactions. It is designed to take advantage of unique smartphone capabilities to provide businesses with powerful, additional features and a digital, modern way to use the service.

Safaricom has also rolled out a portal where any business across the Kenya can now apply online for a Lipa Na M-PESA Till. The “M-PESA for Business” app will be immediately available to these businesses once their application is processed and a Till Number allocated.

For information as to how Relocation Africa can help you with your Mobility, Immigration, Research, Remuneration, and Expat Tax needs, email info@relocationafrica.com, or call us on +27 21 763 4240.

Sources: [1], [2]. Image sources: [1], [2].

Mobile money services on the African continent have not only been a great business success story but also a significant social success, as mobile money offers an opportunity to promote greater financial inclusion and stimulate economic growth.

Customers in the Vodacom International markets, including Safaricom, now process more than US$14.7 billion in monthly transactions through the M-Pesa platform. 40 million customers transact through M-Pesa across all Vodacom’s operations, growing at 22% per annum.

Although M-Pesa activity in the short term in some of our markets has been impacted by extended lockdown periods, Vodacom believes that in the longer term, the Coronavirus pandemic could prove to be a catalyst for the increased uptake of mobile money services. The World Health Organisation recently cautioned that cash could contribute towards the transmission of the virus. With ongoing uncertainty around how long it will take to find a vaccine, cashless and contactless mobile money services offer a safer way to conduct business transactions, protecting consumers and merchants alike.

Some countries are actively promoting the use of mobile money services over cash, such as in Vodacom International Business markets Mozambique, the DRC, Lesotho and Ghana, where certain tariff reductions on M-Pesa transactions have been implemented. Together with the Kenyan Central Bank, Safaricom has also implemented a fee-waiver incentive on M-Pesa transactions to encourage consumers to move away from the physical exchange of currency.

Almost all industries have been affected in one way or another by the pandemic. Varying levels of lockdowns implemented and regulations set by governments have restricted the movement of people, reduced trade or temporarily stopped business completely. Cash transactions have reduced in volume, and mobile money transactions are no different. There is however still an inflow and outflow of cash when users make a deposit or withdrawal, which requires frontline M-Pesa agents to complete each transaction.

Depending on each market and the types of lockdown restrictions that are in place, a number of measures have been implemented to ensure the safety of all M-Pesa agents. In Mozambique, Vodacom is assisting 30,000 frontline agents with 25 litre water tanks to ensure that cleanly and hygienic cash transactions are maintained. In Lesotho and Kenya, Vodacom has also contributed funds for agents to acquire cleaning products such as hand sanitizer, soap and other protective equipment. Educational content has been provided on how to ensure a safe and hygienic work environment.

As the pandemic continues, mobile money services are likely to have an even bigger role to play across the continent. Post lockdown there will be a ‘new normal’ way of life. The benefits of mobile financial services will become increasingly clearer, as people and businesses adapt to a brave new world.

By Diego Gutierrez, Vodacom International Business Chief Officer.

For information as to how Relocation Africa can help you with your Mobility, Immigration, Research, Remuneration, and Expat Tax needs, email info@relocationafrica.com, or call us on +27 21 763 4240.

Sources: [1], [2]. Image sources: [1], [2].

Tigo Pesa customers can now send and receive money from M-PESA in Kenya, MTN in Uganda, Airtel and MTN in Rwanda.

Tanzania’s leading digital lifestyle company, Tigo Tanzania (Tigo.co.tz), launched a service that allows all Tigo Pesa customers to send and receive cash  on  their mobile money wallets  from M-PESA in Kenya, MTN in Uganda and MTN and Airtel in Rwanda.

The service now ensures that Tigo Pesa customers are connected to all major mobile money serivces across the East African region a move that will grow transactions for cross-border remittance users.

This new service between the 4 countries further cements how Tigo adapts to its customers’ needs with digital solutions and it also means that the benefits of mobile money can be extended to cross-border trade, allowing businesses and families to transfer money quickly and securely in East Africa. This partnership further cements our position as a provider of choice for Mobile financial services and we believe this venture will increase the number of transactions for cross-border remittance users.

Tigo Tanzania’s Acting Chief Officer for Mobile Financial Services (MFS) Angelica Pesha

“To send money to the different services, Tigo Pesa customers can dial *150*01# on their mobile phones, select send money, send out of the country,select either Kenya,Uganda or Rwanda.” Explained Pesha.

MTN Uganda has been at the forefront of financial innovation pioneering in the delivery of a wide range of financial services such as micro savings, loans, insurance and merchant payments through MoMoPay.

To be able to make our wide network available to customers across the East African region, this is testimony to our continued drive to extend affordable, reliable, secure financial services to not only our customers in Uganda, but to all people in the region.

Stephen Mutana MTN Uganda General Manager Mobile Financial Services

“As Mobile Money is becoming borderless, this partnership with Tigo Tanzania is part of our commitment to offer our customers within the East African Community; an option to transfer funds to their friends, families and business partners using their Airtel Money Wallets.

While receiving Money from Tigo Tanzania is free, to send Money to Tigo Tanzania, Airtel Money customer dials *500*1*3# and follows the prompts ” said Jidia Gasana from Airtel Rwanda

This partnership between Safaricom, MTN, Airtel and Tigo Tanzania will enable us meet the growing demand for cross border transactions within East Africa. M-PESA has been the preferred International Money Transfer choice for many Kenyans who find the service fast, safe, affordable and convenient.

To send money to the different services, M-PESA customers can dial *840# on their mobile phones or through mySafaricom App by selecting the “M-PESA Global” option under “M-PESA” then selecting “Send”. 

For information as to how Relocation Africa can help you with your Mobility, Immigration, Research, Remuneration, and Expat Tax needs, email info@relocationafrica.com, or call us on +27 21 763 4240.

Sources: [1], [2]. Image sources: [1], [2].